Primecap Management Co. CA Takes Position in Ingevity Corporation $NGVT

Primecap Management Co. CA purchased a new position in Ingevity Corporation (NYSE:NGVT) in the second quarter, HoldingsChannel.com reports. The institutional investor purchased 69,000 shares of the company’s stock, valued at approximately $5,152,000.

Several other institutional investors and hedge funds also recently bought and sold shares of NGVT. Global Retirement Partners LLC purchased a new position in shares of Ingevity during the 4th quarter worth about $27,000. Meeder Asset Management Inc. purchased a new stake in shares of Ingevity in the fourth quarter worth approximately $33,000. Geneos Wealth Management Inc. lifted its stake in shares of Ingevity by 85.8% during 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. Frazier Financial Advisors LLC bought a new stake in shares of Ingevity during the 2nd quarter worth approximately $37,000. Finally, Headlands Technologies LLC purchased a new position in Ingevity during the 2nd quarter valued at $46,000. 91.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Wall Street Zen downgraded shares of Ingevity from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 1st. Weiss Ratings upgraded Ingevity from a “sell (d-)” rating to a “hold (c-)” rating in a report on Friday, July 31st. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $80.00.

Ingevity Stock Up 0.8%

Shares of Ingevity stock opened at $69.57 on Thursday. The company has a quick ratio of 1.15, a current ratio of 1.61 and a debt-to-equity ratio of 22.52. The company has a market cap of $2.39 billion, a P/E ratio of 47.33 and a beta of 1.16. The firm’s 50 day moving average price is $73.68 and its 200-day moving average price is $71.83. Ingevity Corporation has a 52-week low of $45.85 and a 52-week high of $79.29.

Ingevity (NYSE:NGVT) last posted its earnings results on Wednesday, July 29th. The company reported $1.74 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.41. The company had revenue of $314.10 million during the quarter, compared to analysts’ expectations of $312.20 million. Ingevity had a net margin of 4.65% and a return on equity of 284.70%. Ingevity has set its FY 2026 guidance at 5.000-5.450 EPS. On average, sell-side analysts predict that Ingevity Corporation will post 5.4 EPS for the current fiscal year.

Insider Buying and Selling at Ingevity

In related news, CEO David H. Li sold 5,000 shares of the company’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $75.83, for a total transaction of $379,150.00. Following the transaction, the chief executive officer directly owned 120,636 shares of the company’s stock, valued at $9,147,827.88. This represents a 3.98% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Ryan C. Fisher sold 2,709 shares of the stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $73.72, for a total value of $199,707.48. Following the completion of the sale, the senior vice president owned 15,722 shares of the company’s stock, valued at approximately $1,159,025.84. This trade represents a 14.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 17,801 shares of company stock worth $1,347,481. 0.88% of the stock is owned by company insiders.

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.