Allspring Global Investments Holdings LLC Lowers Holdings in Ingevity Corporation $NGVT

Allspring Global Investments Holdings LLC lowered its stake in shares of Ingevity Corporation (NYSE:NGVT) by 32.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 90,368 shares of the company’s stock after selling 44,149 shares during the period. Allspring Global Investments Holdings LLC owned 0.26% of Ingevity worth $6,532,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of NGVT. Global Retirement Partners LLC bought a new stake in shares of Ingevity in the fourth quarter worth about $27,000. Meeder Asset Management Inc. bought a new stake in Ingevity in the 4th quarter worth approximately $33,000. Kestra Advisory Services LLC bought a new stake in Ingevity in the 4th quarter worth approximately $47,000. Geneos Wealth Management Inc. increased its stake in Ingevity by 85.8% in the 2nd quarter. Geneos Wealth Management Inc. now owns 838 shares of the company’s stock worth $36,000 after acquiring an additional 387 shares during the last quarter. Finally, Frazier Financial Advisors LLC purchased a new stake in shares of Ingevity during the 1st quarter worth approximately $71,000. Hedge funds and other institutional investors own 91.59% of the company’s stock.

Insider Buying and Selling

In related news, SVP Terrance M. Dyer sold 496 shares of Ingevity stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $68.49, for a total transaction of $33,971.04. Following the completion of the sale, the senior vice president owned 7,202 shares in the company, valued at $493,264.98. This trade represents a 6.44% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.88% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on NGVT. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ingevity in a research report on Friday, July 17th. Wall Street Zen upgraded shares of Ingevity from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, July 7th. Two equities 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’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $80.00.

Ingevity Stock Down 1.4%

Shares of NYSE NGVT opened at $73.64 on Friday. Ingevity Corporation has a 1 year low of $39.74 and a 1 year high of $79.29. The firm has a 50-day simple moving average of $70.97 and a two-hundred day simple moving average of $70.60. The company has a market cap of $2.56 billion, a P/E ratio of -20.75 and a beta of 1.16. The company has a debt-to-equity ratio of 27.83, a current ratio of 1.42 and a quick ratio of 0.92.

Ingevity (NYSE:NGVT) last released its earnings results on Wednesday, May 6th. The company reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.31. The firm had revenue of $258.00 million for the quarter, compared to analysts’ expectations of $254.73 million. Ingevity had a positive return on equity of 207.82% and a negative net margin of 10.55%.The company’s quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.01 earnings per share. Ingevity has set its FY 2026 guidance at 4.700-5.200 EPS. Research analysts anticipate that Ingevity Corporation will post 5.05 earnings per share for the current year.

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.