Lazard Asset Management LLC Sells 157,815 Shares of Ingevity Co. (NYSE:NGVT)

Lazard Asset Management LLC lessened its stake in Ingevity Co. (NYSE:NGVT) by 54.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 133,468 shares of the company’s stock after selling 157,815 shares during the period. Lazard Asset Management LLC owned about 0.37% of Ingevity worth $6,366,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in NGVT. TFO Wealth Partners LLC boosted its holdings in Ingevity by 40,750.0% in the fourth quarter. TFO Wealth Partners LLC now owns 817 shares of the company’s stock valued at $39,000 after acquiring an additional 815 shares during the last quarter. GAMMA Investing LLC bought a new stake in shares of Ingevity in the 4th quarter valued at $41,000. Principal Securities Inc. acquired a new stake in shares of Ingevity during the fourth quarter worth $67,000. Quadrant Capital Group LLC raised its stake in Ingevity by 207.9% during the fourth quarter. Quadrant Capital Group LLC now owns 2,075 shares of the company’s stock worth $98,000 after buying an additional 1,401 shares during the last quarter. Finally, Mackenzie Financial Corp acquired a new position in Ingevity in the fourth quarter valued at $208,000. Institutional investors and hedge funds own 91.59% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on NGVT. Oppenheimer lifted their price objective on Ingevity from $50.00 to $58.00 and gave the stock an “outperform” rating in a research report on Thursday, May 2nd. Loop Capital boosted their price target on Ingevity from $49.00 to $56.00 and gave the company a “hold” rating in a research note on Tuesday, May 7th. Jefferies Financial Group raised shares of Ingevity from a “hold” rating to a “buy” rating and raised their price objective for the stock from $52.00 to $62.00 in a research report on Monday, April 22nd. BMO Capital Markets boosted their target price on shares of Ingevity from $50.00 to $55.00 and gave the company a “market perform” rating in a research report on Wednesday, May 8th. Finally, Wells Fargo & Company reduced their target price on Ingevity from $55.00 to $45.00 and set an “equal weight” rating for the company in a research note on Thursday, July 11th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $54.17.

Ingevity Trading Down 0.1 %

NYSE:NGVT opened at $46.16 on Monday. The company has a debt-to-equity ratio of 2.48, a current ratio of 1.90 and a quick ratio of 0.98. Ingevity Co. has a one year low of $36.66 and a one year high of $64.76. The company has a market cap of $1.68 billion, a PE ratio of -14.86 and a beta of 1.66. The firm has a 50-day moving average of $45.54 and a 200-day moving average of $46.38.

Ingevity (NYSE:NGVT) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.15. Ingevity had a positive return on equity of 18.65% and a negative net margin of 6.84%. The firm had revenue of $340.10 million during the quarter, compared to analyst estimates of $319.15 million. During the same period in the previous year, the company posted $1.09 EPS. The company’s revenue for the quarter was down 13.4% on a year-over-year basis. As a group, equities research analysts expect that Ingevity Co. will post 3.63 EPS 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.