Vision One Management Partners LP Has $16.52 Million Position in Ingevity Corporation $NGVT

Key Points

• Vision One Management Partners LP increased its stake in Ingevity Corporation by 1.6%, now holding a total of 417,178 shares, which represents approximately 9.6% of its investment portfolio.
• Ingevity recently reported $1.39 EPS for the quarter, surpassing analysts' expectations, although its revenue was down 6.5% compared to the same quarter last year.
• A number of analysts have recently upgraded Ingevity's stock, with BMO Capital Markets raising the target price from $56.00 to $62.00 and Wall Street Zen upgrading the stock to a "strong-buy" rating.

Vision One Management Partners LP increased its position in Ingevity Corporation (NYSE:NGVT - Free Report) by 1.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 417,178 shares of the company's stock after purchasing an additional 6,500 shares during the quarter. Ingevity makes up about 9.6% of Vision One Management Partners LP's investment portfolio, making the stock its 5th largest holding. Vision One Management Partners LP owned about 1.14% of Ingevity worth $16,516,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. 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 period. Teacher Retirement System of Texas lifted its stake in shares of Ingevity by 243.2% in the 1st quarter. Teacher Retirement System of Texas now owns 19,946 shares of the company's stock valued at $790,000 after purchasing an additional 14,134 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Ingevity by 8.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 701,755 shares of the company's stock valued at $27,782,000 after purchasing an additional 55,488 shares during the period. Deutsche Bank AG lifted its stake in shares of Ingevity by 53.3% in the 4th quarter. Deutsche Bank AG now owns 33,936 shares of the company's stock valued at $1,383,000 after purchasing an additional 11,801 shares during the period. Finally, Palisade Capital Management LP lifted its stake in shares of Ingevity by 6.8% in the 1st quarter. Palisade Capital Management LP now owns 511,059 shares of the company's stock valued at $20,233,000 after purchasing an additional 32,511 shares during the period. Hedge funds and other institutional investors own 91.59% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Wells Fargo & Company raised their price objective on Ingevity from $38.00 to $48.00 and gave the company an "equal weight" rating in a research report on Monday, July 14th. Wall Street Zen raised Ingevity from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 9th. Finally, BMO Capital Markets raised their price objective on Ingevity from $62.00 to $68.00 and gave the company an "outperform" rating in a research report on Friday. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Ingevity presently has an average rating of "Moderate Buy" and a consensus price target of $58.00.

Ingevity Stock Up 1.4%

Shares of Ingevity stock traded up $0.81 on Friday, reaching $59.69. The company's stock had a trading volume of 213,784 shares, compared to its average volume of 278,392. The company has a market capitalization of $2.18 billion, a price-to-earnings ratio of -10.03 and a beta of 1.44. The firm's fifty day simple moving average is $50.19 and its two-hundred day simple moving average is $43.67. Ingevity Corporation has a 52 week low of $28.49 and a 52 week high of $59.95. The company has a quick ratio of 0.80, a current ratio of 1.36 and a debt-to-equity ratio of 10.24.

Ingevity (NYSE:NGVT - Get Free Report) last posted its earnings results on Monday, August 4th. The company reported $1.39 EPS for the quarter, topping analysts' consensus estimates of $1.02 by $0.37. The business had revenue of $365.10 million during the quarter, compared to analyst estimates of $378.70 million. Ingevity had a positive return on equity of 84.92% and a negative net margin of 16.35%.The company's quarterly revenue was down 6.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.01 EPS. Ingevity has set its FY 2025 guidance at EPS. Equities analysts anticipate that Ingevity Corporation will post 4.45 earnings per share for the current year.

Ingevity Company Profile

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.