CenterBook Partners LP Sells 27,954 Shares of Ingevity Corporation $NGVT

CenterBook Partners LP lessened its stake in Ingevity Corporation (NYSE:NGVT) by 22.5% in the third quarter, Holdings Channel reports. The firm owned 96,334 shares of the company’s stock after selling 27,954 shares during the quarter. CenterBook Partners LP’s holdings in Ingevity were worth $5,317,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of NGVT. Allianz Asset Management GmbH bought a new position in shares of Ingevity in the 3rd quarter valued at $1,670,000. Teacher Retirement System of Texas lifted its position in shares of Ingevity by 82.1% during the 2nd quarter. Teacher Retirement System of Texas now owns 36,312 shares of the company’s stock worth $1,565,000 after buying an additional 16,366 shares during the last quarter. Squarepoint Ops LLC acquired a new stake in Ingevity in the second quarter valued at about $1,279,000. Brandywine Global Investment Management LLC bought a new position in Ingevity in the second quarter valued at about $2,767,000. Finally, American Century Companies Inc. raised its stake in Ingevity by 15.6% during the second quarter. American Century Companies Inc. now owns 1,707,273 shares of the company’s stock worth $73,566,000 after acquiring an additional 230,525 shares in the last quarter. Institutional investors own 91.59% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on NGVT. Zacks Research upgraded shares of Ingevity to a “hold” rating in a research note on Tuesday, December 16th. Wells Fargo & Company increased their price objective on shares of Ingevity from $60.00 to $65.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 28th. Wall Street Zen raised shares of Ingevity from a “buy” rating to a “strong-buy” rating in a research note on Saturday, January 3rd. BMO Capital Markets increased their price target on Ingevity from $64.00 to $70.00 and gave the company an “outperform” rating in a research note on Wednesday, December 10th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Ingevity in a report on Thursday, January 22nd. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Ingevity has a consensus rating of “Hold” and an average target price of $67.50.

Ingevity Trading Down 1.0%

NYSE NGVT opened at $75.79 on Wednesday. Ingevity Corporation has a 12 month low of $28.49 and a 12 month high of $77.46. The company has a current ratio of 1.27, a quick ratio of 0.80 and a debt-to-equity ratio of 8.39. The firm has a market capitalization of $2.73 billion, a PE ratio of -41.64 and a beta of 1.34. The business’s 50-day moving average price is $65.16 and its two-hundred day moving average price is $57.99.

About Ingevity

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.