Los Angeles Capital Management LLC Raises Stock Position in Ingevity Corporation $NGVT

Los Angeles Capital Management LLC lifted its holdings in Ingevity Corporation (NYSE:NGVT – Free Report) by 94.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 30,877 shares of the company’s stock after buying an additional 14,975 shares during the period. Los Angeles Capital Management LLC’s holdings in Ingevity were worth $1,827,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in NGVT. Allianz Asset Management GmbH purchased a new position in shares of Ingevity in the 3rd quarter worth approximately $1,670,000. CWA Asset Management Group LLC purchased a new stake in Ingevity during the 4th quarter valued at $1,305,000. Harvey Partners LLC lifted its position in Ingevity by 5.1% in the third quarter. Harvey Partners LLC now owns 601,000 shares of the company’s stock worth $33,169,000 after buying an additional 28,953 shares during the last quarter. Alpha Wave Global LP bought a new stake in Ingevity in the third quarter worth $8,395,000. Finally, Allspring Global Investments Holdings LLC purchased a new position in Ingevity during the fourth quarter worth $8,083,000. 91.59% of the stock is currently owned by hedge funds and other institutional investors.

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Ingevity Stock Performance

NGVT stock opened at $68.14 on Thursday. Ingevity Corporation has a twelve month low of $39.74 and a twelve month high of $79.29. The firm has a market cap of $2.37 billion, a price-to-earnings ratio of -19.19 and a beta of 1.18. The business’s fifty day simple moving average is $71.41 and its two-hundred day simple moving average is $66.89. The company has a quick ratio of 0.92, a current ratio of 1.42 and a debt-to-equity ratio of 27.83.

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

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. BMO Capital Markets reiterated an “outperform” rating and set a $83.00 price objective on shares of Ingevity in a research report on Monday, March 2nd. Wells Fargo & Company lifted their price target 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. Wall Street Zen upgraded shares of Ingevity from a “hold” rating to a “strong-buy” rating in a report on Saturday, May 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Ingevity in a research report on Tuesday, April 21st. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $82.00 price objective on shares of Ingevity in a research note on Thursday, February 26th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Ingevity has a consensus rating of “Hold” and an average price target of $80.00.

Read Our Latest Research Report on Ingevity

Insider Transactions at Ingevity

In other Ingevity news, SVP Terrance M. Dyer sold 496 shares of the company’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 in the company, valued at $493,264.98. This represents a 6.44% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.88% of the stock is currently owned by company insiders.

About Ingevity

(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.

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