Allspring Global Investments Holdings LLC Buys Shares of 134,517 Ingevity Corporation $NGVT

Allspring Global Investments Holdings LLC bought a new stake in Ingevity Corporation (NYSE:NGVT) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 134,517 shares of the company’s stock, valued at approximately $8,083,000. Allspring Global Investments Holdings LLC owned approximately 0.37% of Ingevity at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Ingevity by 311.8% during the 1st 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 purchasing an additional 454,579 shares during the last quarter. Simcoe Capital Management LLC raised its position in shares of Ingevity by 188.8% during the 2nd quarter. Simcoe Capital Management LLC now owns 624,935 shares of the company’s stock valued at $26,928,000 after buying an additional 408,508 shares during the period. Boston Partners acquired a new stake in Ingevity during the third quarter worth $14,171,000. Harvey Partners LLC increased its stake in Ingevity by 59.6% during the second quarter. Harvey Partners LLC now owns 572,047 shares of the company’s stock worth $24,650,000 after acquiring an additional 213,547 shares during the last quarter. Finally, Marshall Wace LLP raised its position in Ingevity by 217.4% in the third quarter. Marshall Wace LLP now owns 228,201 shares of the company’s stock valued at $12,594,000 after purchasing an additional 156,301 shares during the period. 91.59% of the stock is owned by hedge funds and other institutional investors.

Ingevity Price Performance

Shares of NGVT opened at $71.15 on Monday. The firm has a market capitalization of $2.51 billion, a price-to-earnings ratio of -15.30 and a beta of 1.27. The firm’s fifty day simple moving average is $69.73 and its 200-day simple moving average is $61.09. Ingevity Corporation has a twelve month low of $28.49 and a twelve month high of $77.46. The company has a current ratio of 1.33, a quick ratio of 0.79 and a debt-to-equity ratio of 39.10.

Ingevity (NYSE:NGVT) last issued its earnings results on Wednesday, February 25th. The company reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.16). Ingevity had a positive return on equity of 126.25% and a negative net margin of 13.51%.The firm had revenue of $255.10 million for the quarter, compared to analyst estimates of $257.27 million. During the same quarter in the previous year, the firm posted $0.95 EPS. The business’s revenue for the quarter was down 3.2% on a year-over-year basis. Ingevity has set its FY 2026 guidance at 4.800-5.20 EPS. Equities analysts forecast that Ingevity Corporation will post 4.45 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Wells Fargo & Company increased their target price on shares of Ingevity from $65.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Friday, February 27th. Jefferies Financial Group restated a “buy” rating and issued a $82.00 price objective on shares of Ingevity in a report on Thursday, February 26th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ingevity in a research report on Thursday, January 22nd. Wall Street Zen lowered Ingevity from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, Zacks Research upgraded Ingevity to a “hold” rating in a report on Tuesday, December 16th. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Ingevity presently has a consensus rating of “Hold” and a consensus target price of $80.00.

About Ingevity

Ingevity Corporation, traded as NGVT, is a specialty chemicals and performance materials company headquartered in North Charleston, South Carolina. The company operates two primary business units: Performance Chemicals and Performance Materials. The Performance Chemicals segment produces and markets specialty chemicals derived largely from wood and other natural feedstocks, including rosin acids, tall oil fatty acids and esters, as well as specialty petroleum resins. These products serve a broad range of industries, including paper, adhesives, coatings, oilfield drilling and consumer goods.

The Performance Materials segment develops and manufactures activated carbon products and composites for applications such as automotive emissions control, industrial air and water purification, and spill containment.