Southernsun Asset Management LLC Decreases Position in Ingevity Co. (NYSE:NGVT)

Southernsun Asset Management LLC decreased its position in Ingevity Co. (NYSE:NGVT) by 7.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 744,115 shares of the company’s stock after selling 58,349 shares during the period. Ingevity comprises approximately 4.1% of Southernsun Asset Management LLC’s portfolio, making the stock its 15th biggest holding. Southernsun Asset Management LLC owned 2.05% of Ingevity worth $35,137,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Hotchkis & Wiley Capital Management LLC grew its stake in shares of Ingevity by 22.4% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 271,530 shares of the company’s stock worth $12,822,000 after acquiring an additional 49,620 shares during the period. Invenomic Capital Management LP bought a new position in Ingevity during the fourth quarter worth about $2,200,000. Quadrature Capital Ltd increased its stake in shares of Ingevity by 134.9% in the fourth quarter. Quadrature Capital Ltd now owns 22,227 shares of the company’s stock worth $1,050,000 after purchasing an additional 12,763 shares in the last quarter. Aristides Capital LLC bought a new stake in shares of Ingevity in the fourth quarter valued at approximately $294,000. Finally, Hudson Edge Investment Partners Inc. lifted its stake in shares of Ingevity by 11.4% during the 4th quarter. Hudson Edge Investment Partners Inc. now owns 11,939 shares of the company’s stock valued at $564,000 after buying an additional 1,222 shares in the last quarter. 91.59% of the stock is owned by institutional investors.

Ingevity Trading Down 1.9 %

Shares of Ingevity stock traded down $0.90 during trading on Tuesday, reaching $45.54. 48,388 shares of the stock were exchanged, compared to its average volume of 229,386. The stock’s fifty day moving average is $49.31 and its 200 day moving average is $46.21. The firm has a market cap of $1.65 billion, a price-to-earnings ratio of -14.64 and a beta of 1.72. The company has a quick ratio of 0.98, a current ratio of 1.90 and a debt-to-equity ratio of 2.48. Ingevity Co. has a 1 year low of $36.66 and a 1 year high of $66.18.

Ingevity (NYSE:NGVT) last posted its earnings results on Wednesday, May 1st. The company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.15. The firm had revenue of $340.10 million for the quarter, compared to analysts’ expectations of $319.15 million. Ingevity had a positive return on equity of 18.65% and a negative net margin of 6.84%. The business’s revenue was down 13.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.09 earnings per share. As a group, equities research analysts expect that Ingevity Co. will post 3.78 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. BMO Capital Markets raised their price target on Ingevity from $50.00 to $55.00 and gave the stock a “market perform” rating in a report on Wednesday, May 8th. Oppenheimer raised their price objective on Ingevity from $50.00 to $58.00 and gave the company an “outperform” rating in a report on Thursday, May 2nd. Loop Capital boosted their target price on Ingevity from $49.00 to $56.00 and gave the stock a “hold” rating in a research report on Tuesday, May 7th. Jefferies Financial Group upgraded shares of Ingevity from a “hold” rating to a “buy” rating and increased their price target for the company from $52.00 to $62.00 in a research report on Monday, April 22nd. Finally, Wells Fargo & Company boosted their price objective on shares of Ingevity from $43.00 to $50.00 and gave the stock an “equal weight” rating in a report on Friday, February 23rd. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Ingevity presently has an average rating of “Hold” and an average target price of $55.00.

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.