London Co. of Virginia Sells 20,708 Shares of Ingevity Corporation $NGVT

Key Points

• London Co. of Virginia reduced its Ingevity stake by 4.4% in the fourth quarter, selling 20,708 shares and ending with 448,770 shares worth about $26.6 million.
• Ingevity reported better-than-expected quarterly results, with EPS of $1.15 versus $0.84 expected and revenue of $258 million, while also issuing FY2026 EPS guidance of $4.70 to $5.20.
• Wall Street sentiment is mixed but generally cautious: analysts have an average Hold rating with a $80 price target, while the stock was trading down 1.1% at $71.64 in the latest session.

London Co. of Virginia lowered its stake in shares of Ingevity Corporation (NYSE:NGVT - Free Report) by 4.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 448,770 shares of the company's stock after selling 20,708 shares during the quarter. London Co. of Virginia owned about 1.25% of Ingevity worth $26,558,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. State of Wisconsin Investment Board increased its holdings in Ingevity by 222.9% in the 4th quarter. State of Wisconsin Investment Board now owns 135,442 shares of the company's stock valued at $8,015,000 after buying an additional 93,494 shares during the period. Rice Hall James & Associates LLC boosted its position in shares of Ingevity by 1.0% during the 4th quarter. Rice Hall James & Associates LLC now owns 337,495 shares of the company's stock valued at $19,973,000 after acquiring an additional 3,453 shares in the last quarter. Panagora Asset Management Inc. boosted its position in shares of Ingevity by 20.1% during the 4th quarter. Panagora Asset Management Inc. now owns 71,303 shares of the company's stock valued at $4,220,000 after acquiring an additional 11,909 shares in the last quarter. Barclays PLC increased its stake in Ingevity by 7.7% in the fourth quarter. Barclays PLC now owns 59,105 shares of the company's stock valued at $3,498,000 after acquiring an additional 4,220 shares during the period. Finally, Brown Advisory Inc. raised its position in Ingevity by 15.4% in the fourth quarter. Brown Advisory Inc. now owns 1,040,944 shares of the company's stock worth $61,603,000 after purchasing an additional 138,859 shares in the last quarter. Institutional investors own 91.59% of the company's stock.

Ingevity Trading Down 1.1%

NGVT opened at $71.64 on Wednesday. The company has a current ratio of 1.42, a quick ratio of 0.92 and a debt-to-equity ratio of 27.83. The stock has a market capitalization of $2.49 billion, a PE ratio of -20.18 and a beta of 1.18. Ingevity Corporation has a 1-year low of $39.74 and a 1-year high of $79.29. The firm has a 50-day moving average price of $71.42 and a two-hundred day moving average price of $67.47.

Ingevity (NYSE:NGVT - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $1.15 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.31. The firm had revenue of $258.00 million during the quarter, compared to analysts' expectations of $254.73 million. Ingevity had a negative net margin of 10.55% and a positive return on equity of 207.82%. The company's quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.01 EPS. Ingevity has set its FY 2026 guidance at 4.700-5.200 EPS. As a group, equities analysts anticipate that Ingevity Corporation will post 5.05 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on NGVT shares. BMO Capital Markets restated an "outperform" rating and set a $83.00 price target on shares of Ingevity in a research note on Monday, March 2nd. Jefferies Financial Group restated a "buy" rating and set a $82.00 price target on shares of Ingevity in a research note on Thursday, February 26th. Wall Street Zen cut shares of Ingevity from a "strong-buy" rating to a "buy" rating in a research note on Saturday. Wells Fargo & Company raised their price target on shares of Ingevity from $65.00 to $75.00 and gave the stock an "equal weight" rating in a research note on Friday, February 27th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Ingevity in a research note on Tuesday, April 21st. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $80.00.

Insiders Place Their Bets

In other Ingevity news, SVP Terrance M. Dyer sold 496 shares of the firm's stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $68.49, for a total value of $33,971.04. Following the completion of the sale, the senior vice president owned 7,202 shares in the company, valued at approximately $493,264.98. This trade represents a 6.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.88% of the company's stock.

Ingevity Profile

Ingevity Corporation, traded as NGVT, is a specialty chemicals and performance materials company headquartered in North Charleston, South Carolina. The company operates two primary business units: Performance Chemicals and Performance Materials. The Performance Chemicals segment produces and markets specialty chemicals derived largely from wood and other natural feedstocks, including rosin acids, tall oil fatty acids and esters, as well as specialty petroleum resins. These products serve a broad range of industries, including paper, adhesives, coatings, oilfield drilling and consumer goods.

The Performance Materials segment develops and manufactures activated carbon products and composites for applications such as automotive emissions control, industrial air and water purification, and spill containment.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.