Charles Schwab Investment Management Inc. Buys 55,488 Shares of Ingevity Corporation $NGVT

Charles Schwab Investment Management Inc. raised its stake in Ingevity Corporation (NYSE:NGVT) by 8.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 701,755 shares of the company’s stock after purchasing an additional 55,488 shares during the period. Charles Schwab Investment Management Inc. owned 1.93% of Ingevity worth $27,782,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NGVT. Maple Rock Capital Partners Inc. bought a new stake in Ingevity in the fourth quarter valued at $17,515,000. Vision One Management Partners LP grew its holdings in shares of Ingevity by 265.0% during the fourth quarter. Vision One Management Partners LP now owns 410,678 shares of the company’s stock valued at $16,735,000 after buying an additional 298,157 shares during the last quarter. Brown Advisory Inc. grew its holdings in shares of Ingevity by 23.6% during the fourth quarter. Brown Advisory Inc. now owns 928,220 shares of the company’s stock valued at $37,825,000 after buying an additional 177,289 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Ingevity by 5.4% during the fourth quarter. Wellington Management Group LLP now owns 2,239,970 shares of the company’s stock valued at $91,279,000 after buying an additional 115,581 shares during the last quarter. Finally, Ancora Advisors LLC grew its holdings in shares of Ingevity by 799.4% during the fourth quarter. Ancora Advisors LLC now owns 88,230 shares of the company’s stock valued at $3,595,000 after buying an additional 78,420 shares during the last quarter. 91.59% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on NGVT shares. Wall Street Zen upgraded shares of Ingevity from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 9th. BMO Capital Markets boosted their price target on shares of Ingevity from $56.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday, August 7th. Finally, Wells Fargo & Company boosted their target price on shares of Ingevity from $38.00 to $48.00 and gave the company an “equal weight” rating in a research note on Monday, July 14th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $55.00.

Ingevity Price Performance

NGVT stock opened at $55.19 on Wednesday. The company has a debt-to-equity ratio of 10.24, a current ratio of 1.36 and a quick ratio of 0.80. Ingevity Corporation has a one year low of $28.49 and a one year high of $56.89. The stock has a market cap of $2.01 billion, a PE ratio of -9.28 and a beta of 1.36. The firm has a 50 day simple moving average of $46.24 and a two-hundred day simple moving average of $42.50.

Ingevity (NYSE:NGVT) last released its quarterly 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. Ingevity had a negative net margin of 16.35% and a positive return on equity of 84.92%. The business had revenue of $365.10 million during the quarter, compared to analysts’ expectations of $378.70 million. During the same quarter in the previous year, the company earned $1.01 EPS. The business’s quarterly revenue was down 6.5% compared to the same quarter last year. Ingevity has set its FY 2025 guidance at EPS. On average, analysts predict that Ingevity Corporation will post 4.45 EPS for the current fiscal 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.