Ancora Advisors LLC Purchases 88,380 Shares of Ingevity Corporation $NGVT

Key Points

• Ancora Advisors LLC significantly increased its stake in Ingevity Corporation by 100.2%, owning 176,610 shares valued at approximately $6.99 million as of the latest SEC filing.
• Ingevity reported earnings of $1.39 per share, surpassing analyst expectations, but saw a 6.5% decline in revenue year-over-year to $365.10 million.
• Analysts are optimistic about Ingevity, with BMO Capital Markets raising its price target to $62.00 and a consensus rating of "Moderate Buy" among research firms.

Ancora Advisors LLC raised its position in Ingevity Corporation (NYSE:NGVT - Free Report) by 100.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 176,610 shares of the company's stock after purchasing an additional 88,380 shares during the quarter. Ancora Advisors LLC owned about 0.48% of Ingevity worth $6,992,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in NGVT. GAMMA Investing LLC increased its stake in shares of Ingevity by 119.1% in 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 during the period. BI Asset Management Fondsmaeglerselskab A S increased its stake in shares of Ingevity by 21.6% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,670 shares of the company's stock valued at $66,000 after purchasing an additional 297 shares during the period. Optimist Retirement Group LLC acquired a new stake in shares of Ingevity in the first quarter valued at approximately $246,000. Balyasny Asset Management L.P. bought a new position in shares of Ingevity in the fourth quarter valued at approximately $302,000. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Ingevity by 28.8% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 7,674 shares of the company's stock valued at $313,000 after acquiring an additional 1,717 shares in the last quarter. Institutional investors and hedge funds own 91.59% of the company's stock.

Ingevity Price Performance

NYSE:NGVT traded down $1.79 during trading hours on Tuesday, reaching $58.96. 89,337 shares of the company's stock were exchanged, compared to its average volume of 259,166. The company has a quick ratio of 0.80, a current ratio of 1.36 and a debt-to-equity ratio of 10.24. The company has a market capitalization of $2.15 billion, a P/E ratio of -9.91 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 business's 50-day simple moving average is $50.54 and its two-hundred day simple moving average is $43.72.

Ingevity (NYSE:NGVT - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The company reported $1.39 EPS for the quarter, beating the consensus estimate of $1.02 by $0.37. The business 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%. The firm's quarterly revenue was down 6.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.01 EPS. Ingevity has set its FY 2025 guidance at EPS. Sell-side analysts expect that Ingevity Corporation will post 4.45 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on NGVT. BMO Capital Markets increased their price objective on shares of Ingevity from $62.00 to $68.00 and gave the company an "outperform" rating in a report on Friday. 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 report on Monday, July 14th. Finally, Wall Street Zen upgraded shares of Ingevity from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 9th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Ingevity currently has an average rating of "Moderate Buy" and an average target price 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.