Villanova Investment Management Co LLC Sells 37,410 Shares of Ingevity Corporation $NGVT

Key Points

• Villanova Investment Management Co LLC significantly reduced its stake in Ingevity Corporation by 65.5% during Q1, selling 37,410 shares to hold 19,694 shares valued at approximately $780,000.
• Ingevity’s latest earnings report showed an earnings per share of $1.39, beating estimates, but a 6.5% year-over-year decline in revenue to $365.10 million.
• Stock ratings for Ingevity have improved, with Wall Street Zen upgrading it to a "strong-buy" and BMO Capital Markets raising their price target from $62.00 to $68.00.

Villanova Investment Management Co LLC cut its stake in shares of Ingevity Corporation (NYSE:NGVT - Free Report) by 65.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,694 shares of the company's stock after selling 37,410 shares during the period. Ingevity accounts for approximately 2.2% of Villanova Investment Management Co LLC's portfolio, making the stock its 15th largest holding. Villanova Investment Management Co LLC owned approximately 0.05% of Ingevity worth $780,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. PNC Financial Services Group Inc. increased its position in shares of Ingevity by 2.4% during the first quarter. PNC Financial Services Group Inc. now owns 12,389 shares of the company's stock valued at $490,000 after buying an additional 292 shares during the period. BI Asset Management Fondsmaeglerselskab A S increased its position 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 purchasing an additional 297 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position 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 purchasing an additional 333 shares during the last quarter. Empowered Funds LLC increased its position in shares of Ingevity by 12.9% in the first quarter. Empowered Funds LLC now owns 5,181 shares of the company's stock worth $205,000 after purchasing an additional 594 shares during the last quarter. Finally, GAMMA Investing LLC increased its position 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 purchasing an additional 618 shares during the last quarter. 91.59% of the stock is currently owned by institutional investors.

Ingevity Price Performance

NYSE NGVT traded down $2.57 on Tuesday, reaching $56.13. 50,731 shares of the company's stock traded hands, compared to its average volume of 257,575. Ingevity Corporation has a 12 month low of $28.49 and a 12 month high of $60.77. The company has a debt-to-equity ratio of 10.24, a current ratio of 1.36 and a quick ratio of 0.80. The stock has a 50-day simple moving average of $51.77 and a 200 day simple moving average of $44.10. The stock has a market cap of $2.05 billion, a PE ratio of -9.43 and a beta of 1.44.

Ingevity (NYSE:NGVT - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The company reported $1.39 EPS for the quarter, beating analysts' consensus estimates 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 business had revenue of $365.10 million for the quarter, compared to analysts' expectations of $378.70 million. During the same period last year, the business earned $1.01 earnings per share. The business's quarterly revenue was down 6.5% on a year-over-year basis. Ingevity has set its FY 2025 guidance at EPS. As a group, research analysts predict that Ingevity Corporation will post 4.45 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on NGVT. Wells Fargo & Company upped their price objective 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. Wall Street Zen upgraded shares of Ingevity from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 9th. Finally, BMO Capital Markets upped their price objective 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. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $58.00.

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.