Southernsun Asset Management LLC Sells 82,179 Shares of Ingevity Corporation $NGVT

Southernsun Asset Management LLC decreased its position in shares of Ingevity Corporation (NYSE:NGVT) by 13.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 529,967 shares of the company’s stock after selling 82,179 shares during the period. Ingevity comprises 3.2% of Southernsun Asset Management LLC’s holdings, making the stock its 16th largest holding. Southernsun Asset Management LLC owned approximately 1.45% of Ingevity worth $22,836,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in NGVT. Elevation Point Wealth Partners LLC acquired a new stake in shares of Ingevity in the 2nd quarter valued at $60,000. EverSource Wealth Advisors LLC raised its holdings in shares of Ingevity by 51.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,616 shares of the company’s stock worth $70,000 after buying an additional 550 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S lifted its position in shares of Ingevity by 21.6% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,670 shares of the company’s stock worth $66,000 after buying an additional 297 shares during the last quarter. Keybank National Association OH acquired a new stake in Ingevity in the second quarter valued at about $206,000. Finally, Choreo LLC acquired a new stake in Ingevity in the second quarter valued at about $215,000. 91.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have commented on the company. BMO Capital Markets boosted their target price on Ingevity from $62.00 to $68.00 and gave the stock an “outperform” rating in a research note on Friday, September 5th. Wall Street Zen cut shares of Ingevity from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Weiss Ratings reissued a “sell (d-)” rating on shares of Ingevity in a research note on Wednesday, October 8th. Finally, Wells Fargo & Company boosted their target price on shares of Ingevity from $52.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 12th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $61.50.

Ingevity Stock Up 2.1%

NYSE:NGVT opened at $54.01 on Tuesday. 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 8.39, a current ratio of 1.27 and a quick ratio of 0.80. The company has a market cap of $1.94 billion, a PE ratio of -29.68 and a beta of 1.40. The firm’s 50 day simple moving average is $52.77 and its 200 day simple moving average is $50.40.

Ingevity (NYSE:NGVT) last announced its quarterly earnings results on Friday, March 24th. The company reported $0.78 earnings per share (EPS) for the quarter. The firm had revenue of $336.00 million during the quarter. Ingevity had a negative net margin of 5.14% and a positive return on equity of 103.69%. On average, research analysts anticipate that Ingevity Corporation will post 4.45 earnings per share for the current year.

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.