Rice Hall James & Associates LLC Takes $26.22 Million Position in Ingevity Corporation $NGVT

Rice Hall James & Associates LLC bought a new position in shares of Ingevity Corporation (NYSE:NGVTFree Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 351,203 shares of the company’s stock, valued at approximately $26,224,000. Ingevity accounts for approximately 1.3% of Rice Hall James & Associates LLC’s holdings, making the stock its 20th biggest position. Rice Hall James & Associates LLC owned approximately 1.02% of Ingevity as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in NGVT. Simplicity Wealth LLC acquired a new stake in Ingevity in the 2nd quarter valued at $235,000. Global Retirement Partners LLC acquired a new position in Ingevity during the second quarter worth $45,000. Bank of New York Mellon Corp acquired a new position in Ingevity during the second quarter worth $16,035,000. State of Wyoming acquired a new position in Ingevity during the second quarter worth $824,000. Finally, Oppenheimer Asset Management Inc. purchased a new position in Ingevity during the second quarter valued at $1,037,000. Hedge funds and other institutional investors own 91.59% of the company’s stock.

Ingevity Stock Down 1.4%

Shares of NGVT opened at $75.70 on Tuesday. The stock has a 50 day moving average price of $73.75 and a 200 day moving average price of $71.72. Ingevity Corporation has a one year low of $45.85 and a one year high of $79.29. The company has a debt-to-equity ratio of 22.52, a quick ratio of 1.15 and a current ratio of 1.61. The stock has a market capitalization of $2.60 billion, a price-to-earnings ratio of 51.50 and a beta of 1.16.

Ingevity (NYSE:NGVTGet Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $1.74 earnings per share for the quarter, beating analysts’ consensus estimates of $1.33 by $0.41. Ingevity had a return on equity of 284.70% and a net margin of 4.65%.The company had revenue of $314.10 million for the quarter, compared to analyst estimates of $312.20 million. Ingevity has set its FY 2026 guidance at 5.000-5.450 EPS. Equities research analysts forecast that Ingevity Corporation will post 5.4 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP Terrance M. Dyer sold 496 shares of the firm’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $68.49, for a total value of $33,971.04. Following the transaction, the senior vice president directly owned 7,202 shares of the company’s stock, valued at approximately $493,264.98. This trade represents a 6.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Ryan C. Fisher sold 2,709 shares of the firm’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $73.72, for a total transaction of $199,707.48. Following the completion of the transaction, the senior vice president directly owned 15,722 shares in the company, valued at approximately $1,159,025.84. This represents a 14.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 8,205 shares of company stock worth $616,779 over the last three months. Insiders own 0.88% of the company’s stock.

Wall Street Analyst Weigh In

NGVT has been the topic of several research analyst reports. Wall Street Zen lowered shares of Ingevity from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 1st. Weiss Ratings upgraded shares of Ingevity from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Friday, July 31st. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Ingevity has an average rating of “Hold” and an average price target of $80.00.

Read Our Latest Analysis on NGVT

Ingevity Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Ingevity (NYSE:NGVT)

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