Wedge Capital Management L L P NC Has $4.36 Million Holdings in Ingevity Corporation $NGVT

Wedge Capital Management L L P NC lowered its position in Ingevity Corporation (NYSE:NGVT) by 15.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 79,006 shares of the company’s stock after selling 14,778 shares during the quarter. Wedge Capital Management L L P NC owned approximately 0.22% of Ingevity worth $4,360,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of NGVT. Geneos Wealth Management Inc. increased its holdings in shares of Ingevity by 85.8% during the 2nd quarter. Geneos Wealth Management Inc. now owns 838 shares of the company’s stock worth $36,000 after acquiring an additional 387 shares during the last quarter. Headlands Technologies LLC bought a new position in Ingevity during the second quarter worth $46,000. Elevation Point Wealth Partners LLC bought a new position in Ingevity during the second quarter worth $60,000. BI Asset Management Fondsmaeglerselskab A S raised its position in shares of Ingevity by 21.6% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,670 shares of the company’s stock valued at $66,000 after purchasing an additional 297 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Ingevity by 51.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,616 shares of the company’s stock worth $70,000 after buying an additional 550 shares during the last quarter. Institutional investors own 91.59% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Zacks Research upgraded shares of Ingevity to a “hold” rating in a research note on Tuesday, December 16th. Weiss Ratings reissued a “sell (d-)” rating on shares of Ingevity in a report on Wednesday, October 8th. Wall Street Zen downgraded Ingevity from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 6th. BMO Capital Markets lifted their price objective on shares of Ingevity from $64.00 to $70.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 10th. Finally, Wells Fargo & Company raised their target price on shares of Ingevity from $55.00 to $60.00 and gave the stock an “equal weight” rating in a report on Friday. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $65.00.

Ingevity Stock Up 1.9%

Shares of NGVT opened at $59.70 on Tuesday. The company has a debt-to-equity ratio of 8.39, a current ratio of 1.27 and a quick ratio of 0.80. Ingevity Corporation has a one year low of $28.49 and a one year high of $61.77. The company has a market cap of $2.15 billion, a P/E ratio of -32.80 and a beta of 1.40. The firm has a 50 day simple moving average of $53.59 and a two-hundred day simple moving average of $51.58.

Ingevity (NYSE:NGVT) last announced its quarterly earnings data on Friday, March 24th. The company reported $0.78 earnings per share for the quarter. Ingevity had a positive return on equity of 103.69% and a negative net margin of 5.14%.The business had revenue of $336.00 million during the quarter. Research analysts forecast that Ingevity Corporation will post 4.45 EPS for the current fiscal year.

Ingevity Company Profile

Ingevity Corporation, traded as NGVT, is a specialty chemicals and performance materials company headquartered in North Charleston, South Carolina. The company operates two primary business units: Performance Chemicals and Performance Materials. The Performance Chemicals segment produces and markets specialty chemicals derived largely from wood and other natural feedstocks, including rosin acids, tall oil fatty acids and esters, as well as specialty petroleum resins. These products serve a broad range of industries, including paper, adhesives, coatings, oilfield drilling and consumer goods.

The Performance Materials segment develops and manufactures activated carbon products and composites for applications such as automotive emissions control, industrial air and water purification, and spill containment.