Southernsun Asset Management LLC Has $17.88 Million Stock Holdings in Ingevity Corporation $NGVT

Key Points

• Southernsun Asset Management cut its Ingevity position by 8% in Q1, but still held 251,051 shares worth about $17.88 million, making NGVT its 19th-largest holding.
• Ingevity reported better-than-expected Q1 earnings, posting $1.15 EPS versus $0.84 expected, while revenue rose 4.1% year over year to $258 million.
• Analyst sentiment remains mixed: the stock has a consensus Hold rating and an average target price of $80, with recent updates including a Wall Street Zen upgrade to Strong-Buy and a Weiss Ratings Sell rating.

Southernsun Asset Management LLC trimmed its position in Ingevity Corporation (NYSE:NGVT - Free Report) by 8.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 251,051 shares of the company's stock after selling 21,954 shares during the quarter. Ingevity accounts for 2.6% of Southernsun Asset Management LLC's holdings, making the stock its 19th largest holding. Southernsun Asset Management LLC owned 0.72% of Ingevity worth $17,882,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Assetmark Inc. lifted its stake in Ingevity by 9.6% during the first quarter. Assetmark Inc. now owns 1,584 shares of the company's stock worth $113,000 after purchasing an additional 139 shares during the last quarter. Advisory Services Network LLC increased 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 last quarter. Amundi increased 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 last quarter. Isthmus Partners LLC raised its holdings in shares of Ingevity by 0.5% during 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% during 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. 91.59% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Ingevity news, SVP Terrance M. Dyer sold 496 shares of the company's stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $68.49, for a total value of $33,971.04. Following the completion of the transaction, the senior vice president owned 7,202 shares of the company's stock, valued at $493,264.98. This represents a 6.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.88% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

NGVT has been the subject of several recent analyst reports. Wall Street Zen upgraded Ingevity from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, July 7th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Ingevity in a research report on Friday. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $80.00.

Ingevity Price Performance

Shares of NYSE:NGVT opened at $74.82 on Wednesday. Ingevity Corporation has a one year low of $39.74 and a one year high of $79.29. The company has a debt-to-equity ratio of 27.83, a current ratio of 1.42 and a quick ratio of 0.92. The company has a market cap of $2.60 billion, a price-to-earnings ratio of -21.08 and a beta of 1.16. The firm has a 50 day simple moving average of $70.86 and a 200 day simple moving average of $70.40.

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

About Ingevity

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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