Goldman Sachs Group Inc. Has $6.10 Million Holdings in Ingevity Corporation $NGVT

Key Points

• Goldman Sachs Group Inc. reduced its holdings in Ingevity Corporation by 26.4% during the 1st quarter, now owning approximately 154,142 shares valued at $6.10 million.
• Several institutional investors have increased their stakes in Ingevity, with GAMMA Investing LLC notably boosting their holdings by 119.1%.
• Analysts have upgraded Ingevity's stock ratings, with BMO Capital Markets raising its price target from $62.00 to $68.00 and maintaining an "outperform" rating.

Goldman Sachs Group Inc. lowered its position in Ingevity Corporation (NYSE:NGVT - Free Report) by 26.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 154,142 shares of the company's stock after selling 55,424 shares during the period. Goldman Sachs Group Inc. owned about 0.42% of Ingevity worth $6,102,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. increased its stake 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 purchasing an additional 2,810 shares in the last quarter. Deutsche Bank AG increased its holdings in Ingevity by 53.3% in the 4th quarter. Deutsche Bank AG now owns 33,936 shares of the company's stock valued at $1,383,000 after purchasing an additional 11,801 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Ingevity by 3.9% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,710 shares of the company's stock valued at $844,000 after purchasing an additional 781 shares in the last quarter. ProShare Advisors LLC lifted its holdings in Ingevity by 43.5% in the 4th quarter. ProShare Advisors LLC now owns 11,858 shares of the company's stock worth $483,000 after buying an additional 3,595 shares in the last quarter. Finally, Vision One Management Partners LP lifted its holdings in Ingevity by 265.0% in the 4th quarter. Vision One Management Partners LP now owns 410,678 shares of the company's stock worth $16,735,000 after buying an additional 298,157 shares in the last quarter. Institutional investors and hedge funds own 91.59% of the company's stock.

Ingevity Price Performance

NGVT stock traded down $1.51 on Friday, hitting $56.33. 716,763 shares of the company's stock traded hands, compared to its average volume of 232,953. The company has a current ratio of 1.36, a quick ratio of 0.80 and a debt-to-equity ratio of 10.24. The stock has a market cap of $2.05 billion, a price-to-earnings ratio of -9.47 and a beta of 1.44. Ingevity Corporation has a 1-year low of $28.49 and a 1-year high of $60.77. The stock has a fifty day moving average of $52.51 and a 200-day moving average of $44.44.

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on NGVT shares. 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 boosted their price objective on shares of Ingevity from $62.00 to $68.00 and gave the company an "outperform" rating in a research report on Friday, September 5th. Finally, Wells Fargo & Company boosted their price objective on shares of Ingevity from $38.00 to $48.00 and gave the company 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 given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $58.00.

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.