Bessemer Group Inc. Purchases 259,124 Shares of Ingevity Corporation $NGVT

Key Points

• Bessemer Group Inc. sharply increased its stake in Ingevity, buying 259,124 shares in the first quarter and lifting its holdings to 314,739 shares, or about 0.89% of the company.
• Ingevity reported better-than-expected quarterly earnings, posting $1.15 EPS versus the $0.84 estimate, while revenue of $258 million also topped forecasts.
• Analysts currently have a Hold consensus on NGVT, with a MarketBeat average target price of $80 per share, while institutional investors own about 91.59% of the stock.

Bessemer Group Inc. boosted its position in shares of Ingevity Corporation (NYSE:NGVT - Free Report) by 465.9% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 314,739 shares of the company's stock after acquiring an additional 259,124 shares during the quarter. Bessemer Group Inc. owned 0.89% of Ingevity worth $22,419,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. AQR Capital Management LLC grew its stake in shares of Ingevity by 10.9% during the 1st quarter. AQR Capital Management LLC now owns 13,410 shares of the company's stock valued at $518,000 after purchasing an additional 1,323 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Ingevity by 5.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,790 shares of the company's stock worth $863,000 after purchasing an additional 1,080 shares during the period. Empowered Funds LLC boosted its holdings in shares of Ingevity by 12.9% in the first quarter. Empowered Funds LLC now owns 5,181 shares of the company's stock worth $205,000 after buying an additional 594 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Ingevity by 311.8% in 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 last quarter. Finally, Jane Street Group LLC grew its position in Ingevity by 306.1% during the first quarter. Jane Street Group LLC now owns 88,883 shares of the company's stock valued at $3,519,000 after buying an additional 66,995 shares during the period. Institutional investors own 91.59% of the company's stock.

Ingevity Stock Up 1.7%

NYSE NGVT opened at $76.47 on Friday. Ingevity Corporation has a 52 week low of $39.74 and a 52 week high of $79.29. 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 company has a market capitalization of $2.66 billion, a P/E ratio of -21.54 and a beta of 1.16. The stock's 50-day moving average price is $70.78 and its 200-day moving average price is $70.10.

Ingevity (NYSE:NGVT - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $1.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.84 by $0.31. The company had revenue of $258.00 million during the quarter, compared to the consensus estimate of $254.73 million. Ingevity had a positive return on equity of 207.82% and a negative net margin of 10.55%.The firm's revenue was up 4.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.01 EPS. Ingevity has set its FY 2026 guidance at 4.700-5.200 EPS. On average, equities research analysts predict that Ingevity Corporation will post 5.05 earnings per share for the current year.

Insiders Place Their Bets

In other Ingevity news, SVP Terrance M. Dyer sold 496 shares of the company's stock in a transaction that occurred on Thursday, May 28th. The shares were 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 directly owned 7,202 shares in the company, valued at $493,264.98. This represents a 6.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.88% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on NGVT shares. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Ingevity in a report on Tuesday, April 21st. Wall Street Zen raised shares of Ingevity from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, July 7th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $80.00.

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.

Want to see what other hedge funds are holding NGVT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ingevity Corporation (NYSE:NGVT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.