Nuveen LLC Buys Shares of 106,804 Ingevity Corporation $NGVT

Key Points

• Nuveen LLC has acquired a new position of 106,804 shares in Ingevity Corporation, valued at approximately $4.23 million, representing 0.29% ownership of the company.
• Analyst ratings for Ingevity have recently improved, with BMO Capital Markets and Wells Fargo increasing their price targets, now set at $62.00 and $48.00 respectively, and Wall Street Zen upgrading the stock to "strong-buy."
• Ingevity reported a quarterly earnings per share of $1.39, exceeding expectations, although revenue decreased by 6.5% year-over-year, amounting to $365.10 million against an estimate of $378.70 million.

Nuveen LLC acquired a new stake in shares of Ingevity Corporation (NYSE:NGVT - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 106,804 shares of the company's stock, valued at approximately $4,228,000. Nuveen LLC owned approximately 0.29% of Ingevity as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of NGVT. Raymond James Financial Inc. purchased a new position in Ingevity in the 4th quarter valued at about $3,018,000. Barclays PLC increased its stake in Ingevity by 3.8% during the 4th quarter. Barclays PLC now owns 69,272 shares of the company's stock worth $2,823,000 after buying an additional 2,511 shares in the last quarter. MetLife Investment Management LLC raised its holdings in shares of Ingevity by 5.8% during the fourth quarter. MetLife Investment Management LLC now owns 22,088 shares of the company's stock valued at $900,000 after acquiring an additional 1,206 shares during the last quarter. State of Tennessee Department of Treasury lifted its position in shares of Ingevity by 47.0% in the fourth quarter. State of Tennessee Department of Treasury now owns 12,153 shares of the company's stock valued at $495,000 after acquiring an additional 3,885 shares in the last quarter. Finally, Hsbc Holdings PLC purchased a new position in shares of Ingevity in the fourth quarter valued at approximately $1,229,000. Institutional investors and hedge funds own 91.59% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on NGVT shares. BMO Capital Markets boosted their price target on Ingevity from $56.00 to $62.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Wells Fargo & Company upped 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. Finally, Wall Street Zen raised shares of Ingevity from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 9th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $55.00.

Ingevity Trading Up 0.6%

NYSE NGVT traded up $0.37 on Monday, reaching $58.32. 207,595 shares of the company were exchanged, compared to its average volume of 359,721. The company has a current ratio of 1.36, a quick ratio of 0.80 and a debt-to-equity ratio of 10.24. The business's fifty day moving average price is $48.90 and its 200 day moving average price is $43.28. The stock has a market capitalization of $2.13 billion, a P/E ratio of -9.80 and a beta of 1.44. Ingevity Corporation has a fifty-two week low of $28.49 and a fifty-two week high of $58.59.

Ingevity (NYSE:NGVT - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The company reported $1.39 EPS for the quarter, topping the consensus estimate of $1.02 by $0.37. Ingevity had a positive return on equity of 84.92% and a negative net margin of 16.35%.The business had revenue of $365.10 million for the quarter, compared to analyst estimates of $378.70 million. During the same quarter in the previous year, the firm earned $1.01 EPS. The company's quarterly revenue was down 6.5% compared to the same quarter last year. Ingevity has set its FY 2025 guidance at EPS. Analysts forecast that Ingevity Corporation will post 4.45 earnings per share for the current 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.