Alpha Wave Global LP Acquires Shares of 152,118 Ingevity Corporation $NGVT

Alpha Wave Global LP purchased a new stake in shares of Ingevity Corporation (NYSE:NGVT) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 152,118 shares of the company’s stock, valued at approximately $8,395,000. Ingevity makes up approximately 0.9% of Alpha Wave Global LP’s portfolio, making the stock its 13th largest position. Alpha Wave Global LP owned 0.42% of Ingevity as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of 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 acquiring an additional 454,579 shares during the last quarter. Simcoe Capital Management LLC boosted its holdings in Ingevity by 188.8% in the 2nd quarter. Simcoe Capital Management LLC now owns 624,935 shares of the company’s stock valued at $26,928,000 after purchasing an additional 408,508 shares during the period. Boston Partners acquired a new stake in Ingevity in the 3rd quarter worth $14,171,000. American Century Companies Inc. increased its holdings in shares of Ingevity by 15.6% during the 2nd quarter. American Century Companies Inc. now owns 1,707,273 shares of the company’s stock worth $73,566,000 after purchasing an additional 230,525 shares during the period. Finally, Harvey Partners LLC raised its position in shares of Ingevity by 59.6% during the second quarter. Harvey Partners LLC now owns 572,047 shares of the company’s stock valued at $24,650,000 after buying an additional 213,547 shares during the last quarter. 91.59% of the stock is currently owned by hedge funds and other institutional investors.

Ingevity Trading Up 0.9%

NYSE:NGVT opened at $64.62 on Friday. The company has a debt-to-equity ratio of 39.10, a current ratio of 1.33 and a quick ratio of 0.79. The business’s 50-day simple moving average is $68.67 and its 200-day simple moving average is $59.93. Ingevity Corporation has a fifty-two week low of $28.49 and a fifty-two week high of $77.46. The stock has a market capitalization of $2.28 billion, a PE ratio of -13.90 and a beta of 1.31.

Ingevity (NYSE:NGVT) last announced its earnings results on Wednesday, February 25th. The company reported $0.58 EPS for the quarter, missing the consensus estimate 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 company had revenue of $255.10 million for the quarter, compared to analyst estimates of $257.27 million. During the same quarter last year, the business posted $0.95 earnings per share. The business’s quarterly revenue was down 3.2% on a year-over-year basis. Ingevity has set its FY 2026 guidance at 4.800-5.20 EPS. Sell-side analysts expect that Ingevity Corporation will post 4.45 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on NGVT shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Ingevity in a research report on Thursday, January 22nd. Jefferies Financial Group reiterated a “buy” rating and issued a $82.00 price objective on shares of Ingevity in a research report on Thursday, February 26th. Wells Fargo & Company boosted their price objective on Ingevity from $65.00 to $75.00 and gave the company an “equal weight” rating in a research report on Friday, February 27th. Zacks Research upgraded Ingevity to a “hold” rating in a research note on Tuesday, December 16th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $83.00 price target on shares of Ingevity in a research note on Monday, March 2nd. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Ingevity has a consensus rating of “Hold” and a consensus price target of $80.00.

Ingevity Company Profile

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.