106,804 Shares in Ingevity Corporation $NGVT Acquired by Nuveen LLC

Nuveen LLC bought a new position in shares of Ingevity Corporation (NYSE:NGVT) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 106,804 shares of the company’s stock, valued at approximately $4,228,000. Nuveen LLC owned 0.29% of Ingevity at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. boosted its position in Ingevity by 8.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 701,755 shares of the company’s stock worth $27,782,000 after buying an additional 55,488 shares during the period. PNC Financial Services Group Inc. boosted its position in Ingevity by 2.4% during the 1st 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 period. Mackenzie Financial Corp boosted its position in Ingevity by 6.6% during the 1st quarter. Mackenzie Financial Corp now owns 16,832 shares of the company’s stock worth $666,000 after buying an additional 1,040 shares during the period. Royce & Associates LP lifted its position in shares of Ingevity by 5.8% in the 1st quarter. Royce & Associates LP now owns 1,208,445 shares of the company’s stock worth $47,842,000 after purchasing an additional 65,847 shares during the period. Finally, KLP Kapitalforvaltning AS lifted its position in shares of Ingevity by 2.1% in the 1st quarter. KLP Kapitalforvaltning AS now owns 122,300 shares of the company’s stock worth $4,842,000 after purchasing an additional 2,500 shares during the period. 91.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

NGVT has been the topic of a number of recent analyst reports. 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 research report on Thursday, August 7th. Wells Fargo & Company boosted their price target on shares of Ingevity from $38.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Monday, July 14th. Finally, Wall Street Zen upgraded shares of Ingevity from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 9th. One equities research 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 an average target price of $55.00.

Ingevity Stock Performance

NYSE:NGVT opened at $56.98 on Wednesday. The company has a fifty day moving average of $47.59 and a 200-day moving average of $42.93. The firm has a market capitalization of $2.08 billion, a P/E ratio of -9.58 and a beta of 1.36. 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 Corporation has a twelve month low of $28.49 and a twelve month high of $57.92.

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

Ingevity 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.