Dynamic Technology Lab Private Ltd Acquires Shares of 10,860 Ingevity Corporation $NGVT

Key Points

• Dynamic Technology Lab Private Ltd invested $430,000 in Ingevity Corporation, acquiring 10,860 shares of the company's stock in the first quarter.
• Analyst ratings for Ingevity have improved, with Wall Street Zen upgrading shares to a "strong-buy" and BMO Capital Markets raising the target price from $62.00 to $68.00.
• Ingevity reported $1.39 EPS for the last quarter, exceeding expectations, although revenue declined by 6.5% compared to the previous year.

Dynamic Technology Lab Private Ltd bought a new position in shares of Ingevity Corporation (NYSE:NGVT - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 10,860 shares of the company's stock, valued at approximately $430,000.

Several other institutional investors also recently bought and sold shares of NGVT. PNC Financial Services Group Inc. boosted its stake in shares of Ingevity by 2.4% in the first quarter. PNC Financial Services Group Inc. now owns 12,389 shares of the company's stock worth $490,000 after acquiring an additional 292 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S boosted 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 worth $66,000 after acquiring an additional 297 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Ingevity by 4.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 8,007 shares of the company's stock worth $317,000 after acquiring an additional 333 shares during the last quarter. GAMMA Investing LLC boosted 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 worth $45,000 after acquiring an additional 618 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Ingevity by 3.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,710 shares of the company's stock worth $844,000 after acquiring an additional 781 shares during the last quarter. 91.59% of the stock is owned by institutional investors and hedge funds.

Ingevity Trading Up 2.5%

Shares of NYSE NGVT traded up $1.41 during trading on Wednesday, reaching $57.69. The stock had a trading volume of 11,744 shares, compared to its average volume of 257,067. Ingevity Corporation has a fifty-two week low of $28.49 and a fifty-two week high of $60.77. The company has a market cap of $2.10 billion, a P/E ratio of -9.70 and a beta of 1.44. The company has a debt-to-equity ratio of 10.24, a quick ratio of 0.80 and a current ratio of 1.36. The business's 50-day moving average price is $51.96 and its 200-day moving average price is $44.18.

Ingevity (NYSE:NGVT - Get Free Report) last released 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. The business had revenue of $365.10 million during the quarter, compared to analysts' expectations of $378.70 million. Ingevity had a positive return on equity of 84.92% and a negative net margin of 16.35%.The business's quarterly revenue was down 6.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.01 EPS. Ingevity has set its FY 2025 guidance at EPS. On average, equities research analysts predict that Ingevity Corporation will post 4.45 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

NGVT has been the topic of a number of research analyst reports. Wall Street Zen raised Ingevity from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 9th. BMO Capital Markets lifted their price target on Ingevity from $62.00 to $68.00 and gave the stock an "outperform" rating in a research note on Friday, September 5th. Finally, Wells Fargo & Company lifted their price target on Ingevity from $38.00 to $48.00 and gave the stock an "equal weight" rating in a research note on Monday, July 14th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Ingevity has a consensus rating of "Moderate Buy" and an average price target of $58.00.

Ingevity Company 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.