Glenmede Trust Co. NA Sells 2,855 Shares of Ingevity Co. (NYSE:NGVT)

Glenmede Trust Co. NA lowered its position in Ingevity Co. (NYSE:NGVT) by 1.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 285,782 shares of the company’s stock after selling 2,855 shares during the quarter. Glenmede Trust Co. NA’s holdings in Ingevity were worth $11,145,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Swedbank AB bought a new stake in shares of Ingevity in the 1st quarter valued at about $3,372,000. American Century Companies Inc. lifted its holdings in Ingevity by 7.6% during the second quarter. American Century Companies Inc. now owns 765,588 shares of the company’s stock worth $33,464,000 after buying an additional 53,839 shares during the period. Wakefield Asset Management LLLP bought a new stake in Ingevity during the 2nd quarter valued at $748,000. ClariVest Asset Management LLC purchased a new position in shares of Ingevity in the 2nd quarter valued at $3,550,000. Finally, Jade Capital Advisors LLC bought a new position in shares of Ingevity in the 3rd quarter worth $1,170,000. 91.59% of the stock is currently owned by hedge funds and other institutional investors.

Ingevity Price Performance

Shares of NYSE NGVT opened at $48.62 on Friday. Ingevity Co. has a fifty-two week low of $30.90 and a fifty-two week high of $56.29. The company has a debt-to-equity ratio of 6.52, a quick ratio of 1.04 and a current ratio of 1.76. The company has a market cap of $1.77 billion, a PE ratio of -3.13 and a beta of 1.60. The business has a 50-day simple moving average of $40.45 and a two-hundred day simple moving average of $41.89.

Ingevity (NYSE:NGVT) last released its earnings results on Tuesday, October 29th. The company reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.50. Ingevity had a negative net margin of 38.11% and a positive return on equity of 24.46%. The company had revenue of $376.90 million during the quarter, compared to analysts’ expectations of $376.95 million. During the same period last year, the business earned $1.21 EPS. Ingevity’s revenue for the quarter was down 15.5% on a year-over-year basis. As a group, equities analysts expect that Ingevity Co. will post 2.55 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Wells Fargo & Company dropped their price objective on Ingevity from $45.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Monday, August 5th. BMO Capital Markets raised their price target on shares of Ingevity from $40.00 to $47.00 and gave the company a “market perform” rating in a report on Thursday, October 31st. Finally, CJS Securities upgraded shares of Ingevity from a “market perform” rating to an “outperform” rating and set a $58.00 price objective for the company in a research note on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $52.17.

Ingevity Profile

Ingevity Corporation manufactures and sells activated carbon products, derivative specialty chemicals, and engineered polymers in North America, the Asia Pacific, Europe, the Middle East, Africa, and South America. It operates through three segments: Performance Materials, Performance Chemicals, and Advanced Polymer Technologies.