Rockefeller Capital Management L.P. Grows Stock Holdings in Ingevity Corporation $NGVT

Key Points

• Rockefeller Capital Management significantly increased its stake in Ingevity, boosting holdings by 3,998.1% in the fourth quarter to 94,830 shares worth about $5.61 million.
• Institutional ownership remains very high, with hedge funds and other institutions holding 91.59% of Ingevity’s stock. Several firms, including UBS AM and Jane Street, also raised their positions in recent quarters.
• Ingevity posted better-than-expected quarterly results, reporting EPS of $1.15 versus the $0.84 estimate and revenue of $258 million, while analysts currently rate the stock a consensus Hold with an average target price of $80.00.

Rockefeller Capital Management L.P. raised its holdings in shares of Ingevity Corporation (NYSE:NGVT - Free Report) by 3,998.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 94,830 shares of the company's stock after acquiring an additional 92,516 shares during the quarter. Rockefeller Capital Management L.P. owned about 0.27% of Ingevity worth $5,612,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. AQR Capital Management LLC grew its position in shares of Ingevity by 10.9% in the first quarter. AQR Capital Management LLC now owns 13,410 shares of the company's stock valued at $518,000 after purchasing an additional 1,323 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Ingevity by 5.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,790 shares of the company's stock worth $863,000 after purchasing an additional 1,080 shares in the last quarter. Empowered Funds LLC lifted its holdings in Ingevity by 12.9% during the 1st quarter. Empowered Funds LLC now owns 5,181 shares of the company's stock worth $205,000 after purchasing an additional 594 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Ingevity by 311.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 600,380 shares of the company's stock worth $23,769,000 after purchasing an additional 454,579 shares during the period. Finally, Jane Street Group LLC grew its holdings in Ingevity by 306.1% during the 1st quarter. Jane Street Group LLC now owns 88,883 shares of the company's stock valued at $3,519,000 after buying an additional 66,995 shares in the last quarter. Hedge funds and other institutional investors own 91.59% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on NGVT shares. Weiss Ratings reiterated a "sell (d-)" rating on shares of Ingevity in a research report on Tuesday, April 21st. Wells Fargo & Company boosted their price objective on shares of Ingevity from $65.00 to $75.00 and gave the company an "equal weight" rating in a research note on Friday, February 27th. BMO Capital Markets reaffirmed an "outperform" rating and set a $83.00 target price on shares of Ingevity in a report on Monday, March 2nd. Finally, Wall Street Zen upgraded shares of Ingevity from a "buy" rating to a "strong-buy" rating in a research note on Sunday, June 21st. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $80.00.

Ingevity Stock Performance

Shares of NGVT opened at $76.47 on Friday. Ingevity Corporation has a 12-month low of $39.74 and a 12-month high of $79.29. 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 company has a market cap of $2.66 billion, a PE ratio of -21.54 and a beta of 1.18. The stock has a 50-day moving average price of $71.37 and a 200-day moving average price of $68.56.

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, topping the consensus estimate of $0.84 by $0.31. The company had revenue of $258.00 million for 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%. Ingevity's revenue for the quarter was up 4.1% compared to the same quarter last year. 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 forecast that Ingevity Corporation will post 5.05 earnings per share for the current fiscal year.

Insider Activity at Ingevity

In other news, SVP Terrance M. Dyer sold 496 shares of the firm's stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $68.49, for a total transaction of $33,971.04. Following 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 filing with the SEC, which can be accessed through this link. 0.88% of the stock is owned by insiders.

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.