Leeward Investments LLC MA Has $6.84 Million Stock Position in Ingevity Co. (NYSE:NGVT)

Leeward Investments LLC MA cut its holdings in shares of Ingevity Co. (NYSE:NGVT) by 14.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 175,363 shares of the company’s stock after selling 29,243 shares during the quarter. Leeward Investments LLC MA owned about 0.48% of Ingevity worth $6,839,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. UniSuper Management Pty Ltd acquired a new position in Ingevity during the 1st quarter valued at $522,000. Swedbank AB acquired a new stake in shares of Ingevity during the 1st quarter worth approximately $3,372,000. American Century Companies Inc. grew its holdings in shares of Ingevity by 7.6% during the 2nd quarter. American Century Companies Inc. now owns 765,588 shares of the company’s stock worth $33,464,000 after purchasing an additional 53,839 shares in the last quarter. Capstone Investment Advisors LLC bought a new stake in shares of Ingevity during the first quarter valued at approximately $211,000. Finally, Wakefield Asset Management LLLP bought a new position in Ingevity in the second quarter worth $748,000. 91.59% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Wells Fargo & Company dropped their price objective on shares of Ingevity from $45.00 to $40.00 and set an “equal weight” rating for the company in a research note on Monday, August 5th. CJS Securities upgraded shares of Ingevity from a “market perform” rating to an “outperform” rating and set a $58.00 price target for the company in a research note on Wednesday, August 7th. BMO Capital Markets upped their price objective on Ingevity from $40.00 to $47.00 and gave the company a “market perform” rating in a research note on Thursday, October 31st. Finally, Oppenheimer cut their target price on Ingevity from $58.00 to $50.00 and set an “outperform” rating for the company in a research report on Thursday, August 1st. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Ingevity has a consensus rating of “Moderate Buy” and a consensus target price of $52.17.

Ingevity Stock Performance

NYSE NGVT opened at $46.27 on Friday. Ingevity Co. has a 1-year low of $30.90 and a 1-year high of $56.29. The company has a 50 day moving average of $37.36 and a 200-day moving average of $42.42. The company has a current ratio of 1.76, a quick ratio of 1.04 and a debt-to-equity ratio of 6.52. The firm has a market cap of $1.68 billion, a price-to-earnings ratio of -2.98 and a beta of 1.60.

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

Ingevity Company 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.