Susquehanna International Group LLP decreased its stake in shares of Ingevity Corporation (NYSE:NGVT – Free Report) by 74.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,879 shares of the company’s stock after selling 42,731 shares during the period. Susquehanna International Group LLP’s holdings in Ingevity were worth $1,111,000 as of its most recent filing with the SEC.
Other hedge funds have also bought and sold shares of the company. Global Retirement Partners LLC bought a new stake in Ingevity in the fourth quarter valued at about $27,000. Meeder Asset Management Inc. acquired a new position in shares of Ingevity in the 4th quarter worth approximately $33,000. Geneos Wealth Management Inc. increased its holdings in shares of Ingevity by 85.8% in the 2nd quarter. Geneos Wealth Management Inc. now owns 838 shares of the company’s stock valued at $36,000 after acquiring an additional 387 shares during the last quarter. Frazier Financial Advisors LLC acquired a new stake in shares of Ingevity during the 2nd quarter valued at approximately $37,000. Finally, Headlands Technologies LLC acquired a new stake in shares of Ingevity during the 2nd quarter valued at approximately $46,000. 91.59% of the stock is currently owned by institutional investors and hedge funds.
Ingevity Stock Performance
Shares of NGVT stock opened at $69.35 on Monday. The company has a market cap of $2.38 billion, a P/E ratio of 47.18 and a beta of 1.16. The business has a 50 day moving average of $73.53 and a two-hundred day moving average of $71.79. Ingevity Corporation has a 52 week low of $45.85 and a 52 week high of $79.29. The company has a quick ratio of 1.15, a current ratio of 1.61 and a debt-to-equity ratio of 22.52.
Analyst Upgrades and Downgrades
A number of equities analysts have commented on the stock. Weiss Ratings raised shares of Ingevity from a “sell (d-)” rating to a “hold (c-)” rating in a report on Friday, July 31st. Wall Street Zen cut shares of Ingevity from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 1st. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $80.00.
Check Out Our Latest Research Report on Ingevity
Insiders Place Their Bets
In related news, SVP Ryan C. Fisher sold 2,709 shares of the company’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $73.72, for a total transaction of $199,707.48. Following the completion of the transaction, the senior vice president directly owned 15,722 shares in the company, valued at $1,159,025.84. This represents a 14.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David H. Li sold 5,000 shares of the stock in a transaction on Monday, August 17th. The stock was sold at an average price of $75.83, for a total value of $379,150.00. Following the completion of the sale, the chief executive officer directly owned 120,636 shares in the company, valued at $9,147,827.88. This represents a 3.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 17,801 shares of company stock valued at $1,347,481. 0.88% of the stock is owned by company insiders.
Ingevity Profile
Ingevity Corporation, traded as NGVT, is a specialty chemicals and performance materials company headquartered in North Charleston, South Carolina. The company operates two primary business units: Performance Chemicals and Performance Materials. The Performance Chemicals segment produces and markets specialty chemicals derived largely from wood and other natural feedstocks, including rosin acids, tall oil fatty acids and esters, as well as specialty petroleum resins. These products serve a broad range of industries, including paper, adhesives, coatings, oilfield drilling and consumer goods.
The Performance Materials segment develops and manufactures activated carbon products and composites for applications such as automotive emissions control, industrial air and water purification, and spill containment.
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