Prudential Financial Inc. reduced its position in shares of Ingevity Corp (NYSE:NGVT) by 53.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 74,610 shares of the company’s stock after selling 85,458 shares during the period. Prudential Financial Inc. owned about 0.18% of Ingevity worth $7,601,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Advisors Preferred LLC acquired a new stake in Ingevity in the third quarter valued at $120,000. Harvest Fund Management Co. Ltd acquired a new stake in Ingevity in the third quarter valued at $134,000. Flagship Harbor Advisors LLC acquired a new stake in Ingevity in the second quarter valued at $138,000. Valeo Financial Advisors LLC acquired a new stake in Ingevity in the second quarter valued at $146,000. Finally, Itau Unibanco Holding S.A. acquired a new stake in Ingevity in the second quarter valued at $176,000. 92.89% of the stock is currently owned by institutional investors and hedge funds.

Several analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Ingevity from a “hold” rating to a “buy” rating and set a $106.00 target price for the company in a research note on Thursday. Oppenheimer set a $110.00 target price on shares of Ingevity and gave the company a “buy” rating in a research note on Wednesday, November 14th. ValuEngine lowered shares of Ingevity from a “buy” rating to a “hold” rating in a research note on Tuesday, October 16th. Berenberg Bank lowered shares of Ingevity from a “buy” rating to a “hold” rating and set a $110.00 target price for the company. in a research note on Tuesday, October 2nd. Finally, Loop Capital set a $98.00 target price on shares of Ingevity and gave the company a “hold” rating in a research note on Thursday, August 16th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $103.50.

NGVT stock opened at $90.45 on Friday. The company has a debt-to-equity ratio of 2.31, a current ratio of 2.34 and a quick ratio of 1.26. Ingevity Corp has a 1-year low of $66.57 and a 1-year high of $106.59. The firm has a market cap of $3.99 billion, a price-to-earnings ratio of 26.99, a price-to-earnings-growth ratio of 2.06 and a beta of 1.48.

Ingevity (NYSE:NGVT) last released its earnings results on Wednesday, October 24th. The company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.12. Ingevity had a net margin of 15.53% and a return on equity of 47.45%. The firm had revenue of $311.20 million during the quarter, compared to analyst estimates of $305.50 million. Equities research analysts predict that Ingevity Corp will post 3.85 earnings per share for the current fiscal year.

WARNING: This report was originally posted by Daily Political and is owned by of Daily Political. If you are reading this report on another domain, it was illegally copied and republished in violation of United States & international trademark and copyright law. The original version of this report can be viewed at https://www.dailypolitical.com/2018/12/07/prudential-financial-inc-sells-85458-shares-of-ingevity-corp-ngvt.html.

Ingevity Company Profile

Ingevity Corporation manufactures and sells specialty chemicals and carbon materials in the United States and internationally. The company operates through two segments, Performance Materials and Performance Chemicals. The Performance Materials segment engineers, manufactures, and sells wood-based chemically activated carbon products primarily for gasoline vapor emission control systems.

Featured Article: Swap

Institutional Ownership by Quarter for Ingevity (NYSE:NGVT)

Receive News & Ratings for Ingevity Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ingevity and related companies with MarketBeat.com's FREE daily email newsletter.