Citigroup Inc. Lowers Position in Ingevity Corp (NYSE:NGVT)

Citigroup Inc. trimmed its holdings in shares of Ingevity Corp (NYSE:NGVT) by 16.3% in the first quarter, HoldingsChannel reports. The firm owned 16,090 shares of the company’s stock after selling 3,143 shares during the quarter. Citigroup Inc.’s holdings in Ingevity were worth $1,699,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of NGVT. Oppenheimer Asset Management Inc. bought a new position in shares of Ingevity during the 4th quarter worth approximately $25,000. Advisors Preferred LLC bought a new position in shares of Ingevity during the 1st quarter worth approximately $76,000. Rockefeller Capital Management L.P. grew its stake in shares of Ingevity by 5,330.3% during the 1st quarter. Rockefeller Capital Management L.P. now owns 1,792 shares of the company’s stock worth $189,000 after acquiring an additional 1,759 shares in the last quarter. Starr International Co. Inc. bought a new position in shares of Ingevity during the 1st quarter worth approximately $193,000. Finally, ETF Managers Group LLC grew its stake in shares of Ingevity by 8.3% during the 1st quarter. ETF Managers Group LLC now owns 1,941 shares of the company’s stock worth $205,000 after acquiring an additional 148 shares in the last quarter. 90.04% of the stock is owned by institutional investors and hedge funds.

NYSE:NGVT opened at $90.21 on Friday. Ingevity Corp has a 1-year low of $74.98 and a 1-year high of $120.41. The company has a debt-to-equity ratio of 4.03, a current ratio of 2.29 and a quick ratio of 1.14. The firm has a market capitalization of $3.77 billion, a P/E ratio of 20.79, a PEG ratio of 1.57 and a beta of 1.91.

Ingevity (NYSE:NGVT) last released its earnings results on Wednesday, May 1st. The company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.02. Ingevity had a net margin of 13.70% and a return on equity of 53.81%. The business had revenue of $276.80 million during the quarter, compared to analysts’ expectations of $288.07 million. During the same period last year, the business earned $0.79 earnings per share. The firm’s revenue was up 17.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Ingevity Corp will post 4.79 EPS for the current year.

Several equities analysts have recently weighed in on NGVT shares. Berenberg Bank raised shares of Ingevity from a “hold” rating to a “buy” rating and decreased their price target for the stock from $120.00 to $110.00 in a research note on Tuesday, May 28th. ValuEngine raised shares of Ingevity from a “hold” rating to a “buy” rating in a research note on Thursday, April 4th. Zacks Investment Research raised shares of Ingevity from a “sell” rating to a “hold” rating in a research note on Thursday, May 9th. Finally, Oppenheimer raised their target price on shares of Ingevity from $110.00 to $130.00 and gave the company an “outperform” rating in a research note on Monday, April 8th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $102.44.

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Ingevity Company Profile

Ingevity Corporation manufactures and sells specialty chemicals and carbon materials in the United States and internationally. The company operates through two segments, Performance Materials and Performance Chemicals. The Performance Materials segment engineers, manufactures, and sells hardwood-based and chemically activated carbon products primarily for use in gasoline vapor emission control systems in cars, trucks, motorcycles, and boats.

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Institutional Ownership by Quarter for Ingevity (NYSE:NGVT)

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