Rhumbline Advisers Reduces Holdings in Ingevity Corporation $NGVT

Rhumbline Advisers trimmed its position in shares of Ingevity Corporation (NYSE:NGVT) by 0.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 101,758 shares of the company’s stock after selling 294 shares during the quarter. Rhumbline Advisers owned 0.28% of Ingevity worth $4,029,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC boosted its stake in Ingevity by 119.1% during the first quarter. GAMMA Investing LLC now owns 1,137 shares of the company’s stock worth $45,000 after buying an additional 618 shares during the period. Teacher Retirement System of Texas boosted its stake in Ingevity by 243.2% during the first quarter. Teacher Retirement System of Texas now owns 19,946 shares of the company’s stock worth $790,000 after buying an additional 14,134 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Ingevity by 8.6% during the first 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. Deutsche Bank AG boosted its stake in Ingevity by 53.3% during the fourth quarter. Deutsche Bank AG now owns 33,936 shares of the company’s stock worth $1,383,000 after buying an additional 11,801 shares during the period. Finally, Palisade Capital Management LP boosted its stake in Ingevity by 6.8% during the first quarter. Palisade Capital Management LP now owns 511,059 shares of the company’s stock worth $20,233,000 after buying an additional 32,511 shares during the period. 91.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on NGVT shares. BMO Capital Markets boosted their target price on shares of Ingevity from $62.00 to $68.00 and gave the company an “outperform” rating in a research note on Friday, September 5th. Wall Street Zen raised shares of Ingevity from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 9th. 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 research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $58.00.

Ingevity Stock Performance

NGVT stock opened at $58.09 on Monday. The company has a debt-to-equity ratio of 10.24, a current ratio of 1.36 and a quick ratio of 0.80. The business has a 50-day moving average price of $51.50 and a 200 day moving average price of $44.02. The company has a market capitalization of $2.12 billion, a P/E ratio of -9.76 and a beta of 1.44. Ingevity Corporation has a 1-year low of $28.49 and a 1-year high of $60.77.

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 firm had revenue of $365.10 million during the quarter, compared to the consensus estimate of $378.70 million. Ingevity had a positive return on equity of 84.92% and a negative net margin of 16.35%.The firm’s quarterly revenue was down 6.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.01 earnings per share. Ingevity has set its FY 2025 guidance at EPS. As a group, equities research analysts forecast 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.