20,633 Ingevity Corporation $NGVT Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lowered its stake in shares of Ingevity Corporation (NYSE:NGVT) by 7.5% during the third quarter, Holdings Channel.com reports. The firm owned 256,249 shares of the company’s stock after selling 20,633 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Ingevity were worth $18,130,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in Ingevity in the second quarter worth about $400,545,000. Dimensional Fund Advisors LP boosted its holdings in shares of Ingevity by 3.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 798,709 shares of the company’s stock valued at $56,889,000 after buying an additional 23,219 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Ingevity by 4.0% in the 1st quarter. Principal Financial Group Inc. now owns 678,037 shares of the company’s stock valued at $48,297,000 after buying an additional 25,800 shares in the last quarter. Rice Hall James & Associates LLC purchased a new position in shares of Ingevity in the 2nd quarter worth approximately $26,224,000. Finally, Bank of America Corp DE purchased a new position in shares of Ingevity in the 2nd quarter worth approximately $23,628,000. Hedge funds and other institutional investors own 91.59% of the company’s stock.

Insiders Place Their Bets

In other Ingevity news, CEO David Li sold 5,000 shares of the firm’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $75.83, for a total value of $379,150.00. Following the completion of the sale, the chief executive officer owned 120,636 shares of the company’s stock, valued at approximately $9,147,827.88. This trade represents a 3.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 10,092 shares of company stock valued at $764,673 over the last three months. 0.88% of the stock is currently owned by company insiders.

Ingevity Stock Up 4.1%

Ingevity stock opened at $63.29 on Thursday. The company has a debt-to-equity ratio of 15.70, a current ratio of 1.48 and a quick ratio of 1.05. The stock has a market capitalization of $2.14 billion, a price-to-earnings ratio of 11.92 and a beta of 1.12. Ingevity Corporation has a 1-year low of $46.38 and a 1-year high of $79.29. The business has a fifty day moving average price of $69.98 and a 200-day moving average price of $71.15.

Ingevity (NYSE:NGVT) last announced its earnings results on Wednesday, November 4th. The company reported $1.63 earnings per share for the quarter, topping the consensus estimate of $1.56 by $0.07. Ingevity had a return on equity of 405.38% and a net margin of 5.28%. The firm had revenue of $305.10 million for the quarter, compared to the consensus estimate of $303.91 million. Equities research analysts forecast that Ingevity Corporation will post 5.40 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

NGVT has been the subject of several recent analyst reports. Weiss Ratings upgraded shares of Ingevity from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, November 4th. Wall Street Zen downgraded shares of Ingevity from a “buy” rating to a “hold” rating in a research note on Saturday, November 7th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Ingevity currently has a consensus rating of “Hold” and an average target price of $80.00.

Ingevity Company Profile

Ingevity is a specialty chemicals and materials company headquartered in North Charleston, South Carolina. It develops and manufactures high-performance activated carbon and specialty chemical products for industrial and consumer applications. Its activated carbon products are used in vehicle fuel-vapor emission control and other applications. The company also makes specialty chemicals and polymer materials used in areas such as pavement technologies, coatings, adhesives and elastomers. Ingevity serves customers in markets around the world.