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

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in NGVT. GAMMA Investing LLC grew 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 buying an additional 618 shares during 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 grew 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 buying an additional 1,717 shares during the last quarter. Finally, NBC Securities Inc. grew 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 buying an additional 10,139 shares during the last quarter. 91.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Ingevity Trading Up 5.7%

NYSE:NGVT traded up $3.12 during midday trading on Friday, hitting $57.66. The stock had a trading volume of 427,494 shares, compared to its average volume of 340,560. Ingevity Corporation has a one year low of $28.49 and a one year high of $57.92. The company has a market capitalization of $2.10 billion, a price-to-earnings ratio of -9.69 and a beta of 1.36. The stock has a 50-day moving average of $46.99 and a 200 day moving average of $42.73. The company has a quick ratio of 0.80, a current ratio of 1.36 and a debt-to-equity ratio of 10.24.

Ingevity (NYSE:NGVT - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $365.10 million for the quarter, compared to analysts' expectations of $378.70 million. During the same quarter in the prior year, the firm earned $1.01 earnings per share. Ingevity'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, sell-side analysts forecast that Ingevity Corporation will post 4.45 EPS for the current 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.