Russell Investments Group Ltd. Grows Stock Holdings in Ingevity Corporation $NGVT

Key Points

• Russell Investments Group Ltd. increased its holdings in Ingevity Corporation by 46.7%, now owning approximately 0.65% of the company worth $9.43 million.
• Ingevity reported an EPS of $1.39 for the last quarter, exceeding analysts' predictions, despite a 6.5% decline in revenue compared to the previous year.
• Wall Street analysts have shown optimism, with BMO Capital Markets raising their price target on Ingevity's shares from $56.00 to $62.00 and upgrading the stock to "outperform."

Russell Investments Group Ltd. lifted its stake in shares of Ingevity Corporation (NYSE:NGVT - Free Report) by 46.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 238,331 shares of the company's stock after purchasing an additional 75,880 shares during the quarter. Russell Investments Group Ltd. owned about 0.65% of Ingevity worth $9,436,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC boosted its position in shares of Ingevity by 119.1% during the 1st quarter. GAMMA Investing LLC now owns 1,137 shares of the company's stock worth $45,000 after purchasing an additional 618 shares in the last quarter. Optimist Retirement Group LLC bought a new position in shares of Ingevity during the 1st quarter worth about $246,000. Balyasny Asset Management L.P. bought a new position in shares of Ingevity during the 4th quarter worth about $302,000. Wealth Enhancement Advisory Services LLC boosted its position in shares of Ingevity by 28.8% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 7,674 shares of the company's stock worth $313,000 after purchasing an additional 1,717 shares in the last quarter. Finally, NBC Securities Inc. boosted its position in shares of Ingevity by 112,655.6% during the 1st quarter. NBC Securities Inc. now owns 10,148 shares of the company's stock worth $401,000 after purchasing an additional 10,139 shares in the last quarter. Institutional investors own 91.59% of the company's stock.

Ingevity Stock Performance

Shares of NGVT stock traded up $3.12 during trading hours on Friday, hitting $57.66. 427,494 shares of the company were exchanged, compared to its average volume of 353,770. The firm has a fifty day simple moving average of $46.99 and a 200 day simple moving average of $42.73. The company has a current ratio of 1.36, a quick ratio of 0.80 and a debt-to-equity ratio of 10.24. Ingevity Corporation has a 52-week low of $28.49 and a 52-week high of $57.92. The stock has a market capitalization of $2.10 billion, a price-to-earnings ratio of -9.69 and a beta of 1.36.

Ingevity (NYSE:NGVT - Get Free Report) last issued its quarterly earnings results 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 negative net margin of 16.35% and a positive return on equity of 84.92%. The company had revenue of $365.10 million during the quarter, compared to analyst estimates of $378.70 million. During the same quarter last year, the business posted $1.01 EPS. Ingevity's quarterly revenue was down 6.5% compared to the same quarter last year. Ingevity has set its FY 2025 guidance at EPS. Research analysts predict that Ingevity Corporation will post 4.45 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

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.