Pacer Advisors Inc. Invests $9.66 Million in Ingevity Corporation $NGVT

Key Points

• Pacer Advisors Inc. initiated a new position in Ingevity, buying 163,228 shares worth about $9.66 million in the fourth quarter, equal to roughly 0.45% of the company.
• Institutional ownership in Ingevity remains very high at 91.59%, while insiders own just 0.88%. One recent insider transaction involved SVP Terrance M. Dyer selling 496 shares.
• Analysts are mixed on NGVT, with a consensus rating of Hold and an average price target of $80. The company recently reported EPS of $1.15, beating estimates, and revenue rose 4.1% year over year.

Pacer Advisors Inc. bought a new stake in shares of Ingevity Corporation (NYSE:NGVT - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The fund bought 163,228 shares of the company's stock, valued at approximately $9,660,000. Pacer Advisors Inc. owned approximately 0.45% of Ingevity as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its stake in Ingevity by 15.7% during the third quarter. EverSource Wealth Advisors LLC now owns 1,870 shares of the company's stock worth $103,000 after purchasing an additional 254 shares during the period. Advisory Services Network LLC grew its stake in shares of Ingevity by 4.4% in the 3rd quarter. Advisory Services Network LLC now owns 6,947 shares of the company's stock valued at $383,000 after purchasing an additional 293 shares during the period. Amundi grew its stake in shares of Ingevity by 4.8% in the 3rd quarter. Amundi now owns 6,626 shares of the company's stock valued at $364,000 after purchasing an additional 302 shares during the period. Isthmus Partners LLC raised its holdings in shares of Ingevity by 0.5% in the 4th quarter. Isthmus Partners LLC now owns 72,245 shares of the company's stock worth $4,275,000 after buying an additional 375 shares in the last quarter. Finally, Geneos Wealth Management Inc. raised its holdings in shares of Ingevity by 85.8% in the 2nd quarter. Geneos Wealth Management Inc. now owns 838 shares of the company's stock worth $36,000 after buying an additional 387 shares in the last quarter. Institutional investors own 91.59% of the company's stock.

Analyst Ratings Changes

Several research firms recently commented on NGVT. Jefferies Financial Group restated a "buy" rating and set a $82.00 target price on shares of Ingevity in a research report on Thursday, February 26th. Wall Street Zen upgraded Ingevity from a "buy" rating to a "strong-buy" rating in a research note on Sunday. Wells Fargo & Company increased their price objective on Ingevity from $65.00 to $75.00 and gave the stock an "equal weight" rating in a research note on Friday, February 27th. Weiss Ratings restated a "sell (d-)" rating on shares of Ingevity in a research note on Tuesday, April 21st. Finally, BMO Capital Markets restated an "outperform" rating and issued a $83.00 target price on shares of Ingevity in a research note on Monday, March 2nd. Two 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, the company has a consensus rating of "Hold" and a consensus price target of $80.00.

Insider Buying and Selling

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

Ingevity Trading Down 0.3%

NGVT opened at $73.17 on Monday. 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 $2.54 billion, a PE ratio of -20.61 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 $71.50 and a two-hundred day moving average price of $67.91.

Ingevity (NYSE:NGVT - Get Free Report) last announced its earnings results on Wednesday, May 6th. The company reported $1.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.84 by $0.31. The company had revenue of $258.00 million for the quarter, compared to analyst estimates of $254.73 million. Ingevity had a negative net margin of 10.55% and a positive return on equity of 207.82%. Ingevity's quarterly revenue was up 4.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.01 earnings per share. 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.

Ingevity Company 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.

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