Cubist Systematic Strategies LLC Makes New $696,000 Investment in Ingevity Corporation $NGVT

Key Points

• Cubist Systematic Strategies LLC acquired 17,584 shares of Ingevity Corporation for approximately $696,000 during the first quarter, indicating growing institutional interest in the company.
• Ingevity's stock is currently valued at $58.77 with a market capitalization of $2.14 billion, and the company recently reported earnings per share of $1.39 for the last quarter, surpassing analyst expectations.
• Several analysts have raised their price targets for Ingevity, with BMO Capital Markets setting a target of $68.00 and Wells Fargo increasing theirs to $48.00, showcasing positive sentiment among researchers.

Cubist Systematic Strategies LLC acquired a new stake in Ingevity Corporation (NYSE:NGVT - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 17,584 shares of the company's stock, valued at approximately $696,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in NGVT. Vision One Management Partners LP lifted its holdings in shares of Ingevity by 265.0% during the 4th quarter. Vision One Management Partners LP now owns 410,678 shares of the company's stock valued at $16,735,000 after buying an additional 298,157 shares during the period. Simcoe Capital Management LLC bought a new position in shares of Ingevity during the 1st quarter valued at $8,568,000. Wellington Management Group LLP lifted its holdings in shares of Ingevity by 5.4% during the 4th quarter. Wellington Management Group LLP now owns 2,239,970 shares of the company's stock valued at $91,279,000 after buying an additional 115,581 shares during the period. Nuveen LLC bought a new position in shares of Ingevity during the 1st quarter valued at $4,228,000. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Ingevity by 46.7% during the 1st quarter. Russell Investments Group Ltd. now owns 238,331 shares of the company's stock valued at $9,436,000 after buying an additional 75,880 shares during the period. 91.59% of the stock is owned by institutional investors.

Ingevity Stock Performance

Shares of NYSE:NGVT traded down $0.69 during midday trading on Friday, hitting $58.09. The company had a trading volume of 172,020 shares, compared to its average volume of 252,237. The company has a debt-to-equity ratio of 10.24, a current ratio of 1.36 and a quick ratio of 0.80. The company has a market cap of $2.12 billion, a price-to-earnings ratio of -9.76 and a beta of 1.44. Ingevity Corporation has a 12-month low of $28.49 and a 12-month high of $60.77. The company has a fifty day moving average of $51.50 and a two-hundred day moving average of $44.08.

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

Analyst Ratings Changes

Several research firms have recently weighed in on NGVT. Wall Street Zen raised Ingevity from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 9th. Wells Fargo & Company increased their price target on Ingevity from $38.00 to $48.00 and gave the company an "equal weight" rating in a report on Monday, July 14th. Finally, BMO Capital Markets increased their price target on Ingevity from $62.00 to $68.00 and gave the company an "outperform" rating in a report on Friday, September 5th. 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.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $58.00.

Ingevity 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.