New York State Teachers Retirement System Sells 323 Shares of Ingevity Co. (NYSE:NGVT)

New York State Teachers Retirement System reduced its stake in shares of Ingevity Co. (NYSE:NGVT) by 0.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,555 shares of the company’s stock after selling 323 shares during the period. New York State Teachers Retirement System owned 0.16% of Ingevity worth $2,812,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Assenagon Asset Management S.A. bought a new stake in Ingevity during the fourth quarter worth approximately $2,530,000. Rice Hall James & Associates LLC grew its stake in Ingevity by 11.5% in the 3rd quarter. Rice Hall James & Associates LLC now owns 410,033 shares of the company’s stock valued at $19,522,000 after buying an additional 42,408 shares during the last quarter. First Hawaiian Bank raised its holdings in Ingevity by 2.5% in the 4th quarter. First Hawaiian Bank now owns 10,160 shares of the company’s stock worth $480,000 after acquiring an additional 250 shares during the period. Victory Capital Management Inc. lifted its position in Ingevity by 2.7% during the 3rd quarter. Victory Capital Management Inc. now owns 1,176,836 shares of the company’s stock worth $56,029,000 after acquiring an additional 30,632 shares during the last quarter. Finally, First Eagle Investment Management LLC bought a new stake in Ingevity during the third quarter valued at about $7,463,000. Institutional investors and hedge funds own 91.59% of the company’s stock.

Analyst Ratings Changes

Separately, Wells Fargo & Company boosted their price objective on Ingevity from $43.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Friday, February 23rd. Five investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $48.75.

Ingevity Stock Down 0.7 %

Shares of NGVT opened at $44.94 on Tuesday. Ingevity Co. has a 52 week low of $36.66 and a 52 week high of $73.43. The firm has a market capitalization of $1.63 billion, a P/E ratio of -204.27 and a beta of 1.85. The company has a 50-day simple moving average of $46.20 and a 200-day simple moving average of $43.60. The company has a debt-to-equity ratio of 2.19, a quick ratio of 0.96 and a current ratio of 1.81.

Ingevity (NYSE:NGVT) last announced its quarterly earnings data on Wednesday, February 21st. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.34. The company had revenue of $371.70 million for the quarter, compared to analyst estimates of $336.74 million. Ingevity had a positive return on equity of 20.75% and a negative net margin of 0.32%. Ingevity’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.57 EPS. On average, equities research analysts expect that Ingevity Co. will post 3.65 earnings per share for the current year.

About Ingevity

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.