State of Alaska Department of Revenue Buys 1,552 Shares of Ingevity Corporation $NGVT

State of Alaska Department of Revenue raised its stake in Ingevity Corporation (NYSE:NGVT) by 7.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,693 shares of the company’s stock after purchasing an additional 1,552 shares during the period. State of Alaska Department of Revenue owned 0.06% of Ingevity worth $934,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in NGVT. Wellington Management Group LLP raised its position in shares of Ingevity by 2.6% during the first quarter. Wellington Management Group LLP now owns 2,299,312 shares of the company’s stock worth $91,030,000 after purchasing an additional 59,342 shares during the period. American Century Companies Inc. increased its stake in Ingevity by 1.3% during the 1st quarter. American Century Companies Inc. now owns 1,476,748 shares of the company’s stock valued at $58,464,000 after purchasing an additional 19,383 shares in the last quarter. Millennium Management LLC raised its holdings in Ingevity by 8.0% during the first quarter. Millennium Management LLC now owns 1,226,189 shares of the company’s stock worth $48,545,000 after buying an additional 90,958 shares during the last quarter. Royce & Associates LP lifted its stake in shares of Ingevity by 5.8% in the first quarter. Royce & Associates LP now owns 1,208,445 shares of the company’s stock valued at $47,842,000 after buying an additional 65,847 shares in the last quarter. Finally, Brown Advisory Inc. grew its holdings in shares of Ingevity by 1.1% during the first quarter. Brown Advisory Inc. now owns 938,820 shares of the company’s stock valued at $37,168,000 after buying an additional 10,600 shares during the last quarter. Institutional investors and hedge funds own 91.59% of the company’s stock.

Ingevity Stock Down 2.3%

Shares of NYSE NGVT opened at $55.03 on Monday. The company has a quick ratio of 0.80, a current ratio of 1.36 and a debt-to-equity ratio of 10.24. The company has a market cap of $2.01 billion, a P/E ratio of -9.25 and a beta of 1.40. Ingevity Corporation has a 52 week low of $28.49 and a 52 week high of $60.77. The business has a 50-day simple moving average of $54.34 and a two-hundred day simple moving average of $45.16.

Ingevity (NYSE:NGVT) last released its quarterly earnings data on Monday, August 4th. The company reported $1.39 EPS for the quarter, beating 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 company had revenue of $365.10 million during the quarter, compared to analyst estimates of $378.70 million. During the same period last year, the business earned $1.01 earnings per share. Ingevity’s revenue was down 6.5% compared to the same quarter last year. Ingevity has set its FY 2025 guidance at EPS. Research analysts anticipate that Ingevity Corporation will post 4.45 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on NGVT. Wall Street Zen raised shares of Ingevity from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 9th. BMO Capital Markets raised their target price on Ingevity from $62.00 to $68.00 and gave the company an “outperform” rating in a report on Friday, September 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ingevity in a report on Saturday, September 27th. Finally, 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 report on Monday, July 14th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $58.00.

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.