Wealth Enhancement Advisory Services LLC Sells 422 Shares of Ingevity Corporation $NGVT

Wealth Enhancement Advisory Services LLC lowered its holdings in shares of Ingevity Corporation (NYSE:NGVT) by 5.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,585 shares of the company’s stock after selling 422 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Ingevity were worth $355,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Range Financial Group LLC bought a new stake in Ingevity during the second quarter worth about $1,326,000. First Hawaiian Bank raised its holdings in Ingevity by 19.6% in the first quarter. First Hawaiian Bank now owns 12,832 shares of the company’s stock worth $508,000 after buying an additional 2,102 shares during the last quarter. Jane Street Group LLC raised its holdings in Ingevity by 306.1% in the first quarter. Jane Street Group LLC now owns 88,883 shares of the company’s stock worth $3,519,000 after buying an additional 66,995 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Ingevity by 311.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 600,380 shares of the company’s stock worth $23,769,000 after buying an additional 454,579 shares during the last quarter. Finally, Empowered Funds LLC raised its holdings in Ingevity by 12.9% in the first quarter. Empowered Funds LLC now owns 5,181 shares of the company’s stock worth $205,000 after buying an additional 594 shares during the last quarter. Institutional investors own 91.59% of the company’s stock.

Ingevity Price Performance

Shares of NYSE:NGVT opened at $53.56 on Wednesday. The company has a debt-to-equity ratio of 10.24, a quick ratio of 0.80 and a current ratio of 1.36. The firm has a fifty day moving average price of $54.71 and a 200 day moving average price of $45.31. Ingevity Corporation has a fifty-two week low of $28.49 and a fifty-two week high of $60.77. The firm has a market cap of $1.95 billion, a price-to-earnings ratio of -9.00 and a beta of 1.40.

Ingevity (NYSE:NGVT) last issued its earnings results on Monday, August 4th. The company reported $1.39 earnings per share 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 firm had revenue of $365.10 million during the quarter, compared to analyst estimates of $378.70 million. During the same quarter in the prior year, the business earned $1.01 earnings per share. Ingevity’s revenue for the quarter was down 6.5% on a year-over-year basis. Ingevity has set its FY 2025 guidance at EPS. As a group, sell-side analysts expect that Ingevity Corporation will post 4.45 earnings per share for the current fiscal year.

Analyst Ratings Changes

NGVT has been the subject of several recent analyst reports. Wall Street Zen raised shares of Ingevity from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 9th. BMO Capital Markets lifted their target price on shares of Ingevity from $62.00 to $68.00 and gave the stock an “outperform” rating in a report on Friday, September 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ingevity in a report on Saturday, September 27th. Finally, Wells Fargo & Company lifted their target price 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 investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $58.00.

About Ingevity

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.