Ingevity Corporation $NGVT Stock Position Decreased by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. decreased its stake in Ingevity Corporation (NYSE:NGVT) by 6.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 27,387 shares of the company’s stock after selling 1,900 shares during the period. Oppenheimer Asset Management Inc. owned 0.08% of Ingevity worth $1,180,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC increased its position in shares of Ingevity by 119.1% during the 1st quarter. GAMMA Investing LLC now owns 1,137 shares of the company’s stock valued at $45,000 after purchasing an additional 618 shares during the period. BI Asset Management Fondsmaeglerselskab A S boosted its stake in Ingevity by 21.6% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,670 shares of the company’s stock worth $66,000 after purchasing an additional 297 shares during the period. Empowered Funds LLC boosted its position in shares of Ingevity by 12.9% in the first quarter. Empowered Funds LLC now owns 5,181 shares of the company’s stock worth $205,000 after buying an additional 594 shares during the period. Optimist Retirement Group LLC acquired a new stake in shares of Ingevity in the first quarter worth $246,000. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in shares of Ingevity by 4.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 8,007 shares of the company’s stock valued at $317,000 after buying an additional 333 shares during the period. Institutional investors own 91.59% of the company’s stock.

Ingevity Price Performance

NGVT opened at $53.74 on Friday. Ingevity Corporation has a one year low of $28.49 and a one year high of $60.77. The company has a debt-to-equity ratio of 10.24, a current ratio of 1.36 and a quick ratio of 0.80. The company’s 50 day simple moving average is $56.20 and its 200-day simple moving average is $47.69. The stock has a market capitalization of $1.96 billion, a P/E ratio of -9.03 and a beta of 1.40.

Ingevity (NYSE:NGVT) last announced its quarterly earnings data on Friday, March 24th. The company reported $0.78 earnings per share for the quarter. The business had revenue of $336.00 million for the quarter. Ingevity had a negative net margin of 16.35% and a positive return on equity of 84.92%. Sell-side analysts anticipate that Ingevity Corporation will post 4.45 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on NGVT shares. Wall Street Zen raised shares of Ingevity from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 9th. Wells Fargo & Company lifted their target price on shares of Ingevity from $38.00 to $48.00 and gave the stock an “equal weight” rating in a report on Monday, July 14th. Weiss Ratings restated a “sell (d-)” rating on shares of Ingevity in a research note on Wednesday, October 8th. Finally, BMO Capital Markets upped their target price on shares of Ingevity from $62.00 to $68.00 and gave the company an “outperform” rating in a research note on Friday, September 5th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Ingevity has a consensus rating of “Hold” and an average target price of $58.00.

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.