Canada Pension Plan Investment Board Makes New Investment in Ingevity Corporation $NGVT

Key Points

• Canada Pension Plan Investment Board purchased 14,900 Ingevity shares worth approximately $1.1 million in the second quarter. Institutional investors collectively own 91.59% of the company.
• Ingevity insiders sold 17,801 shares valued at about $1.35 million during the last quarter, including sales by the CEO and a senior vice president; insiders retain only 0.88% ownership.
• The company exceeded quarterly earnings expectations, reporting $1.74 in EPS versus the $1.33 consensus and $314.1 million in revenue. Analysts maintain a consensus “Hold” rating with an $80 price target, compared with the stock’s $69.48 opening price.

Canada Pension Plan Investment Board purchased a new stake in Ingevity Corporation (NYSE:NGVT - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 14,900 shares of the company's stock, valued at approximately $1,113,000.

Several other institutional investors have also recently made changes to their positions in NGVT. Global Retirement Partners LLC acquired a new stake in shares of Ingevity in the 4th quarter valued at about $27,000. Meeder Asset Management Inc. bought a new stake in Ingevity in the 4th quarter valued at about $33,000. Geneos Wealth Management Inc. raised its stake in Ingevity by 85.8% during the 2nd quarter. Geneos Wealth Management Inc. now owns 838 shares of the company's stock worth $36,000 after buying an additional 387 shares during the period. Frazier Financial Advisors LLC acquired a new position in Ingevity during the 2nd quarter worth approximately $37,000. Finally, Headlands Technologies LLC acquired a new position in Ingevity during the 2nd quarter worth approximately $46,000. Institutional investors and hedge funds own 91.59% of the company's stock.

Insider Transactions at Ingevity

In other Ingevity news, SVP Ryan C. Fisher sold 2,709 shares of the business's stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $73.72, for a total transaction of $199,707.48. Following the completion of the sale, the senior vice president directly owned 15,722 shares of the company's stock, valued at approximately $1,159,025.84. The trade was a 14.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO David H. Li sold 5,000 shares of the stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $75.83, for a total value of $379,150.00. Following the completion of the sale, the chief executive officer directly owned 120,636 shares of the company's stock, valued at approximately $9,147,827.88. This trade represents a 3.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 17,801 shares of company stock valued at $1,347,481 in the last quarter. Company insiders own 0.88% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on NGVT shares. Weiss Ratings raised Ingevity from a "sell (d-)" rating to a "hold (c-)" rating in a research note on Friday, July 31st. Wall Street Zen downgraded Ingevity from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 1st. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $80.00.

Ingevity Stock Up 0.1%

Shares of NYSE NGVT opened at $69.48 on Tuesday. The stock has a market capitalization of $2.39 billion, a P/E ratio of 47.27 and a beta of 1.16. The company has a 50-day moving average price of $73.47 and a 200-day moving average price of $71.76. Ingevity Corporation has a 1 year low of $45.85 and a 1 year high of $79.29. The company has a debt-to-equity ratio of 22.52, a current ratio of 1.61 and a quick ratio of 1.15.

Ingevity (NYSE:NGVT - Get Free Report) last posted its earnings results on Wednesday, July 29th. The company reported $1.74 earnings per share for the quarter, topping analysts' consensus estimates of $1.33 by $0.41. Ingevity had a net margin of 4.65% and a return on equity of 284.70%. The company had revenue of $314.10 million for the quarter, compared to analyst estimates of $312.20 million. Ingevity has set its FY 2026 guidance at 5.000-5.450 EPS. On average, equities research analysts forecast that Ingevity Corporation will post 5.4 EPS for the current fiscal year.

Ingevity Profile

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.

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.