Charles Schwab Investment Management Inc. Has $27.78 Million Stock Position in Ingevity Corporation $NGVT

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Ingevity Corporation by 8.6%, acquiring an additional 55,488 shares and bringing its total ownership to 701,755 shares valued at approximately $27.78 million.
• Multiple institutional investors, including Maple Rock Capital Partners and Ancora Advisors, have recently made significant investments in Ingevity, with 91.59% of the company's stock now held by institutional investors.
• Analysts have shown a positive outlook, with upgrades and price target increases; the average target price for Ingevity is now $55.00, reflecting a consensus "Moderate Buy" rating.

Charles Schwab Investment Management Inc. boosted its stake in shares of Ingevity Corporation (NYSE:NGVT - Free Report) by 8.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 701,755 shares of the company's stock after acquiring an additional 55,488 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.93% of Ingevity worth $27,782,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Maple Rock Capital Partners Inc. acquired a new stake in shares of Ingevity in the fourth quarter valued at $17,515,000. Vision One Management Partners LP increased its stake in shares of Ingevity by 265.0% in the fourth 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 in the last quarter. Brown Advisory Inc. increased its stake in shares of Ingevity by 23.6% in the fourth quarter. Brown Advisory Inc. now owns 928,220 shares of the company's stock valued at $37,825,000 after buying an additional 177,289 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Ingevity by 5.4% in the fourth 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 in the last quarter. Finally, Ancora Advisors LLC increased its stake in shares of Ingevity by 799.4% in the fourth quarter. Ancora Advisors LLC now owns 88,230 shares of the company's stock valued at $3,595,000 after buying an additional 78,420 shares in the last quarter. 91.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Ingevity Trading Down 1.8%

NGVT traded down $1.0180 during midday trading on Monday, reaching $56.7720. 253,328 shares of the company were exchanged, compared to its average volume of 353,770. The company has a debt-to-equity ratio of 10.24, a quick ratio of 0.80 and a current ratio of 1.36. Ingevity Corporation has a one year low of $28.49 and a one year high of $57.92. The stock has a market capitalization of $2.07 billion, a P/E ratio of -9.54 and a beta of 1.36. The stock's 50-day simple moving average is $47.28 and its 200 day simple moving average is $42.83.

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

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.