London Co. of Virginia Lowers Stock Position in Ingevity Corporation $NGVT

London Co. of Virginia lessened its holdings in shares of Ingevity Corporation (NYSE:NGVT) by 3.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 469,478 shares of the company’s stock after selling 14,832 shares during the period. London Co. of Virginia owned 1.31% of Ingevity worth $25,911,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Amalgamated Bank boosted its stake in Ingevity by 1.7% during the third quarter. Amalgamated Bank now owns 10,593 shares of the company’s stock worth $585,000 after acquiring an additional 180 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Ingevity by 3.1% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 7,823 shares of the company’s stock worth $418,000 after acquiring an additional 238 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Ingevity by 15.7% in the third quarter. EverSource Wealth Advisors LLC now owns 1,870 shares of the company’s stock worth $103,000 after acquiring an additional 254 shares during the last quarter. Amundi grew its stake in shares of Ingevity by 4.8% in the third quarter. Amundi now owns 6,626 shares of the company’s stock worth $364,000 after acquiring an additional 302 shares during the last quarter. Finally, Range Financial Group LLC increased its holdings in shares of Ingevity by 1.2% during the third quarter. Range Financial Group LLC now owns 31,139 shares of the company’s stock valued at $1,719,000 after acquiring an additional 376 shares in the last quarter. 91.59% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on NGVT shares. Wall Street Zen downgraded shares of Ingevity from a “strong-buy” rating to a “buy” rating in a research report on Monday, March 9th. Wells Fargo & Company lifted their target price on shares of Ingevity from $65.00 to $75.00 and gave the stock an “equal weight” rating in a report on Friday, February 27th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ingevity in a research note on Thursday, January 22nd. Jefferies Financial Group reiterated a “buy” rating and set a $82.00 price target on shares of Ingevity in a report on Thursday, February 26th. Finally, Zacks Research raised shares of Ingevity to a “hold” rating in a research report on Tuesday, December 16th. 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $80.00.

Ingevity Stock Performance

Shares of NYSE NGVT opened at $65.57 on Tuesday. The firm’s 50-day moving average price is $68.76 and its 200-day moving average price is $60.02. The company has a quick ratio of 0.79, a current ratio of 1.33 and a debt-to-equity ratio of 39.10. The company has a market cap of $2.31 billion, a PE ratio of -14.10 and a beta of 1.31. Ingevity Corporation has a 52-week low of $28.49 and a 52-week high of $77.46.

Ingevity (NYSE:NGVT) last released its quarterly earnings data on Wednesday, February 25th. The company reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.16). The company had revenue of $255.10 million for the quarter, compared to analysts’ expectations of $257.27 million. Ingevity had a negative net margin of 13.51% and a positive return on equity of 126.25%. The firm’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.95 earnings per share. Ingevity has set its FY 2026 guidance at 4.800-5.20 EPS. As a group, analysts anticipate that Ingevity Corporation will post 4.45 EPS for the current year.

Ingevity 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.