Congress Wealth Management LLC DE Trims Stock Position in Ingevity Co. (NYSE:NGVT)

Congress Wealth Management LLC DE lessened its stake in Ingevity Co. (NYSE:NGVT) by 50.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 7,065 shares of the company’s stock after selling 7,065 shares during the period. Congress Wealth Management LLC DE’s holdings in Ingevity were worth $288,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. KBC Group NV increased its holdings in shares of Ingevity by 27.5% in the 4th quarter. KBC Group NV now owns 2,007 shares of the company’s stock valued at $82,000 after acquiring an additional 433 shares during the period. Empowered Funds LLC purchased a new position in Ingevity during the 4th quarter worth $187,000. Teacher Retirement System of Texas acquired a new position in Ingevity in the fourth quarter valued at $237,000. Hennion & Walsh Asset Management Inc. purchased a new stake in shares of Ingevity in the fourth quarter valued at about $239,000. Finally, XTX Topco Ltd acquired a new stake in shares of Ingevity during the third quarter worth about $260,000. Hedge funds and other institutional investors own 91.59% of the company’s stock.

Ingevity Trading Down 0.3 %

Shares of Ingevity stock opened at $39.62 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.87 and a debt-to-equity ratio of 6.86. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of -3.35 and a beta of 1.53. Ingevity Co. has a 52-week low of $30.90 and a 52-week high of $56.30. The company’s 50-day simple moving average is $45.16 and its 200-day simple moving average is $42.54.

Ingevity (NYSE:NGVT) last issued its earnings results on Tuesday, February 18th. The company reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.66. Ingevity had a positive return on equity of 41.44% and a negative net margin of 30.60%. The business had revenue of $298.80 million during the quarter, compared to the consensus estimate of $297.40 million. As a group, equities research analysts anticipate that Ingevity Co. will post 4.45 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. StockNews.com lowered Ingevity from a “buy” rating to a “hold” rating in a report on Monday, March 24th. BMO Capital Markets upgraded Ingevity from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $62.00 to $65.00 in a research note on Wednesday, February 26th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $55.17.

Ingevity Company Profile

Ingevity Corporation manufactures and sells activated carbon products, derivative specialty chemicals, and engineered polymers in North America, the Asia Pacific, Europe, the Middle East, Africa, and South America. It operates through three segments: Performance Materials, Performance Chemicals, and Advanced Polymer Technologies.