Wedge Capital Management L L P NC Sells 14,778 Shares of Ingevity Corporation $NGVT

Wedge Capital Management L L P NC cut its stake in shares of Ingevity Corporation (NYSE:NGVT) by 15.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 79,006 shares of the company’s stock after selling 14,778 shares during the period. Wedge Capital Management L L P NC’s holdings in Ingevity were worth $4,360,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Geneos Wealth Management Inc. boosted 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 valued at $36,000 after acquiring an additional 387 shares in the last quarter. Headlands Technologies LLC bought a new position in Ingevity in the second quarter valued at about $46,000. Elevation Point Wealth Partners LLC bought a new position in Ingevity in the second quarter valued at about $60,000. EverSource Wealth Advisors LLC grew its holdings in shares of Ingevity by 51.6% during the second quarter. EverSource Wealth Advisors LLC now owns 1,616 shares of the company’s stock worth $70,000 after purchasing an additional 550 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S increased its stake 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 buying an additional 297 shares during the period. 91.59% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Ingevity Stock Up 1.9%

Shares of Ingevity stock opened at $59.70 on Tuesday. The firm has a market cap of $2.15 billion, a price-to-earnings ratio of -32.80 and a beta of 1.40. Ingevity Corporation has a one year low of $28.49 and a one year high of $61.77. The stock’s 50-day moving average is $53.59 and its 200 day moving average is $51.58. 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 (NYSE:NGVT) last announced its quarterly earnings data on Friday, March 24th. The company reported $0.78 EPS for the quarter. Ingevity had a negative net margin of 5.14% and a positive return on equity of 103.69%. The company had revenue of $336.00 million during the quarter. Equities research analysts anticipate that Ingevity Corporation will post 4.45 EPS for the current 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.