Dynamic Technology Lab Private Ltd Invests $430,000 in 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 Ingevity Corporation (NYSE:NGVT - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 10,860 shares of the company's stock, valued at approximately $430,000.

Other institutional investors have also recently made changes to their positions in the company. Ameriprise Financial Inc. lifted its position in shares of Ingevity by 1.3% during the 4th quarter. Ameriprise Financial Inc. now owns 224,199 shares of the company's stock worth $9,136,000 after buying an additional 2,810 shares in the last quarter. Balyasny Asset Management L.P. bought a new position in shares of Ingevity during the 4th quarter worth approximately $302,000. Deutsche Bank AG lifted its position in shares of Ingevity by 53.3% during the 4th quarter. Deutsche Bank AG now owns 33,936 shares of the company's stock worth $1,383,000 after buying an additional 11,801 shares in the last quarter. Gotham Asset Management LLC lifted its position in shares of Ingevity by 133.0% during the 4th quarter. Gotham Asset Management LLC now owns 29,369 shares of the company's stock worth $1,197,000 after buying an additional 16,765 shares in the last quarter. Finally, Lighthouse Investment Partners LLC bought a new position in shares of Ingevity during the 4th quarter worth approximately $953,000. Institutional investors own 91.59% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Wall Street Zen raised shares of Ingevity from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 9th. BMO Capital Markets lifted their target price on shares of Ingevity from $62.00 to $68.00 and gave the stock an "outperform" rating in a research report on Friday, September 5th. Finally, Wells Fargo & Company lifted their target price on shares of Ingevity from $38.00 to $48.00 and gave the stock an "equal weight" rating in a research report on Monday, July 14th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Ingevity currently has an average rating of "Moderate Buy" and an average target price of $58.00.

Ingevity Trading Up 3.1%

Shares of NGVT stock opened at $58.84 on Friday. The company has a 50 day moving average of $51.28 and a 200-day moving average of $44.01. 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 Corporation has a 12-month low of $28.49 and a 12-month high of $60.77. The firm has a market cap of $2.15 billion, a P/E ratio of -9.89 and a beta of 1.44.

Ingevity (NYSE:NGVT - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The company reported $1.39 EPS for the quarter, beating the consensus estimate of $1.02 by $0.37. The business had revenue of $365.10 million for the quarter, compared to the consensus estimate of $378.70 million. Ingevity had a negative net margin of 16.35% and a positive return on equity of 84.92%. The company's revenue was down 6.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.01 earnings per share. Ingevity has set its FY 2025 guidance at EPS. Sell-side analysts anticipate that Ingevity Corporation will post 4.45 earnings per share for the current year.

About Ingevity

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.

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