Ingevity Corporation $NGVT Shares Bought by Public Sector Pension Investment Board

Public Sector Pension Investment Board lifted its holdings in Ingevity Corporation (NYSE:NGVT - Free Report) by 27.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 115,238 shares of the company's stock after acquiring an additional 24,685 shares during the quarter. Public Sector Pension Investment Board owned 0.32% of Ingevity worth $4,562,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. PNC Financial Services Group Inc. boosted its stake in Ingevity by 2.4% during the first quarter. PNC Financial Services Group Inc. now owns 12,389 shares of the company's stock worth $490,000 after buying an additional 292 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Ingevity by 4.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 8,007 shares of the company's stock valued at $317,000 after purchasing an additional 333 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Ingevity by 119.1% in the 1st quarter. GAMMA Investing LLC now owns 1,137 shares of the company's stock valued at $45,000 after purchasing an additional 618 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Ingevity by 3.9% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,710 shares of the company's stock valued at $844,000 after purchasing an additional 781 shares during the last quarter. Finally, Mackenzie Financial Corp lifted its stake in shares of Ingevity by 6.6% in the 1st quarter. Mackenzie Financial Corp now owns 16,832 shares of the company's stock valued at $666,000 after purchasing an additional 1,040 shares during the last quarter. Institutional investors and hedge funds own 91.59% of the company's stock.

Ingevity Stock Performance

Shares of NYSE NGVT traded up $2.8620 during trading hours on Friday, reaching $57.4020. The stock had a trading volume of 86,232 shares, compared to its average volume of 257,993. The firm has a market cap of $2.09 billion, a price-to-earnings ratio of -9.65 and a beta of 1.36. 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 fifty-two week low of $28.49 and a fifty-two week high of $57.30. The firm has a 50-day moving average of $46.68 and a 200-day moving average of $42.66.

Ingevity (NYSE:NGVT - Get Free Report) last announced its earnings results on Monday, August 4th. The company reported $1.39 earnings per share (EPS) for the quarter, beating 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 positive return on equity of 84.92% and a negative net margin of 16.35%.The business's revenue was down 6.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.01 EPS. Ingevity has set its FY 2025 guidance at EPS. Equities research analysts predict that Ingevity Corporation will post 4.45 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on NGVT. BMO Capital Markets upped their price target on Ingevity from $56.00 to $62.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Wall Street Zen raised Ingevity from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 9th. Finally, Wells Fargo & Company upped their price target on Ingevity from $38.00 to $48.00 and gave the stock an "equal weight" rating in a 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's stock. According to MarketBeat, Ingevity presently has an average rating of "Moderate Buy" and a consensus target price of $55.00.

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.