Ingevity Corporation $NGVT Shares Acquired by American Century Companies Inc.

Key Points

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American Century Companies Inc. increased its holdings in shares of Ingevity Corporation (NYSE:NGVT - Free Report) by 1.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,476,748 shares of the company's stock after purchasing an additional 19,383 shares during the period. American Century Companies Inc. owned 4.05% of Ingevity worth $58,464,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NGVT. GAMMA Investing LLC boosted its stake in shares of Ingevity by 119.1% during the first quarter. GAMMA Investing LLC now owns 1,137 shares of the company's stock valued at $45,000 after purchasing an additional 618 shares in the last quarter. Optimist Retirement Group LLC bought a new position in shares of Ingevity during the first quarter valued at approximately $246,000. Balyasny Asset Management L.P. bought a new position in shares of Ingevity during the fourth quarter valued at approximately $302,000. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Ingevity by 28.8% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 7,674 shares of the company's stock valued at $313,000 after purchasing an additional 1,717 shares in the last quarter. Finally, NBC Securities Inc. boosted its stake in shares of Ingevity by 112,655.6% during the first quarter. NBC Securities Inc. now owns 10,148 shares of the company's stock valued at $401,000 after purchasing an additional 10,139 shares in the last quarter. 91.59% of the stock is currently owned by institutional investors.

Ingevity Stock Up 5.7%

NGVT traded up $3.12 during trading on Friday, hitting $57.66. The stock had a trading volume of 427,494 shares, compared to its average volume of 353,770. The company has a market capitalization of $2.10 billion, a PE ratio of -9.69 and a beta of 1.36. Ingevity Corporation has a twelve month low of $28.49 and a twelve month high of $57.92. The company has a debt-to-equity ratio of 10.24, a quick ratio of 0.80 and a current ratio of 1.36. The stock has a 50 day simple moving average of $46.99 and a two-hundred day simple moving average of $42.73.

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

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on NGVT. Wall Street Zen upgraded shares of Ingevity from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 9th. BMO Capital Markets increased their price objective on shares of Ingevity from $56.00 to $62.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Finally, Wells Fargo & Company increased their price objective on shares of Ingevity from $38.00 to $48.00 and gave the company an "equal weight" rating in a research note on Monday, July 14th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $55.00.

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.