Villanova Investment Management Co LLC Cuts Stock Holdings in 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 lessened its position in Ingevity Corporation (NYSE:NGVT - Free Report) by 65.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 19,694 shares of the company's stock after selling 37,410 shares during the period. Ingevity comprises 2.2% of Villanova Investment Management Co LLC's portfolio, making the stock its 15th largest holding. Villanova Investment Management Co LLC owned about 0.05% of Ingevity worth $780,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC lifted 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 buying an additional 618 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S lifted its position in Ingevity by 21.6% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,670 shares of the company's stock valued at $66,000 after purchasing an additional 297 shares during the period. Empowered Funds LLC lifted its position in Ingevity by 12.9% during the first quarter. Empowered Funds LLC now owns 5,181 shares of the company's stock valued at $205,000 after purchasing an additional 594 shares during the period. Optimist Retirement Group LLC bought a new position in Ingevity during the first quarter valued at approximately $246,000. Finally, Balyasny Asset Management L.P. bought a new position in Ingevity during the fourth quarter valued at approximately $302,000. Institutional investors own 91.59% of the company's stock.

Ingevity Price Performance

Shares of NYSE NGVT traded down $0.69 during midday trading on Friday, reaching $58.09. The stock had a trading volume of 172,020 shares, compared to its average volume of 252,237. The stock has a 50-day moving average of $51.50 and a 200-day moving average of $44.04. 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 company has a market capitalization of $2.12 billion, a price-to-earnings ratio of -9.76 and a beta of 1.44. Ingevity Corporation has a 12-month low of $28.49 and a 12-month high of $60.77.

Ingevity (NYSE:NGVT - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The company reported $1.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.02 by $0.37. The firm had revenue of $365.10 million during the quarter, compared to analysts' expectations 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 for the quarter was down 6.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.01 earnings per share. Ingevity has set its FY 2025 guidance at EPS. As a group, research analysts anticipate that Ingevity Corporation will post 4.45 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently weighed in on NGVT. Wall Street Zen upgraded shares of Ingevity from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 9th. BMO Capital Markets increased 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 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 report 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 presently has a consensus rating of "Moderate Buy" and a consensus target price 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.