100,000 Shares in Ingevity Corporation $NGVT Purchased by EVR Research LP

Key Points

• EVR Research LP initiated a new position in Ingevity, buying 100,000 shares valued at about $5.9 million. The stake represents roughly 3.2% of EVR’s holdings and about 0.28% of Ingevity.
• Other institutional investors have also been adding to NGVT, with large increases reported by firms including Principal Financial Group, UBS AM, Simcoe Capital Management, Boston Partners, and Goldman Sachs. Overall, 91.59% of the stock is owned by hedge funds and other institutions.
• Ingevity reported better-than-expected Q1 results, posting $1.15 EPS versus the $0.84 estimate and revenue of $258 million. Analysts currently view the stock as a Hold with a consensus target price of $80, while shares recently traded around $71.82.

EVR Research LP bought a new position in shares of Ingevity Corporation (NYSE:NGVT - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 100,000 shares of the company's stock, valued at approximately $5,918,000. Ingevity accounts for 3.2% of EVR Research LP's holdings, making the stock its 13th biggest holding. EVR Research LP owned about 0.28% of Ingevity as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in NGVT. Principal Financial Group Inc. lifted its position in Ingevity by 269.9% during the fourth quarter. Principal Financial Group Inc. now owns 652,237 shares of the company's stock worth $38,599,000 after buying an additional 475,907 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Ingevity by 311.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 600,380 shares of the company's stock worth $23,769,000 after buying an additional 454,579 shares during the period. Simcoe Capital Management LLC lifted its position in Ingevity by 188.8% during the second quarter. Simcoe Capital Management LLC now owns 624,935 shares of the company's stock worth $26,928,000 after buying an additional 408,508 shares during the period. Boston Partners lifted its position in Ingevity by 141.6% during the fourth quarter. Boston Partners now owns 620,360 shares of the company's stock worth $36,719,000 after buying an additional 363,584 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in Ingevity by 137.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 424,038 shares of the company's stock worth $25,095,000 after buying an additional 245,620 shares during the period. 91.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NGVT has been the topic of a number of research reports. Wall Street Zen downgraded Ingevity from a "strong-buy" rating to a "buy" rating in a report on Saturday, June 13th. BMO Capital Markets restated an "outperform" rating and issued a $83.00 price objective on shares of Ingevity in a report on Monday, March 2nd. Jefferies Financial Group reiterated a "buy" rating and issued a $82.00 target price on shares of Ingevity in a research note on Thursday, February 26th. Wells Fargo & Company increased their target price on Ingevity from $65.00 to $75.00 and gave the company an "equal weight" rating in a research note on Friday, February 27th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Ingevity in a research note on Tuesday, April 21st. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $80.00.

Ingevity Price Performance

Shares of NYSE NGVT opened at $71.82 on Thursday. Ingevity Corporation has a fifty-two week low of $39.74 and a fifty-two week high of $79.29. The business has a 50 day moving average price of $71.45 and a two-hundred day moving average price of $67.61. The company has a quick ratio of 0.92, a current ratio of 1.42 and a debt-to-equity ratio of 27.83. The firm has a market cap of $2.50 billion, a PE ratio of -20.23 and a beta of 1.18.

Ingevity (NYSE:NGVT - Get Free Report) last issued its earnings results on Wednesday, May 6th. The company reported $1.15 EPS for the quarter, topping the consensus estimate of $0.84 by $0.31. The company had revenue of $258.00 million during the quarter, compared to analyst estimates of $254.73 million. Ingevity had a positive return on equity of 207.82% and a negative net margin of 10.55%.The business's revenue was up 4.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.01 EPS. Ingevity has set its FY 2026 guidance at 4.700-5.200 EPS. Sell-side analysts expect that Ingevity Corporation will post 5.05 earnings per share for the current fiscal year.

Insider Activity at Ingevity

In other news, SVP Terrance M. Dyer sold 496 shares of Ingevity stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $68.49, for a total value of $33,971.04. Following the completion of the transaction, the senior vice president owned 7,202 shares in the company, valued at approximately $493,264.98. This trade represents a 6.44% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.88% of the company's stock.

About Ingevity

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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