Patten & Patten Inc. TN Trims Stock Holdings in Ingevity Corporation $NGVT

Patten & Patten Inc. TN trimmed its position in Ingevity Corporation (NYSE:NGVT) by 10.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 147,213 shares of the company’s stock after selling 17,838 shares during the period. Patten & Patten Inc. TN’s holdings in Ingevity were worth $8,712,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NGVT. Principal Financial Group Inc. grew its stake in Ingevity by 269.9% in the fourth quarter. Principal Financial Group Inc. now owns 652,237 shares of the company’s stock worth $38,599,000 after purchasing an additional 475,907 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Ingevity by 311.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 600,380 shares of the company’s stock worth $23,769,000 after purchasing an additional 454,579 shares during the period. Simcoe Capital Management LLC grew its stake in Ingevity by 188.8% in the second quarter. Simcoe Capital Management LLC now owns 624,935 shares of the company’s stock worth $26,928,000 after purchasing an additional 408,508 shares during the period. Boston Partners purchased a new stake in Ingevity in the third quarter worth $14,171,000. Finally, Marshall Wace LLP grew its stake in Ingevity by 217.4% in the third quarter. Marshall Wace LLP now owns 228,201 shares of the company’s stock worth $12,594,000 after purchasing an additional 156,301 shares during the period. 91.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on NGVT. BMO Capital Markets reaffirmed an “outperform” rating and issued a $83.00 price target on shares of Ingevity in a research note on Monday, March 2nd. Wall Street Zen raised Ingevity from a “hold” rating to a “strong-buy” rating in a research note on Saturday. Weiss Ratings reissued a “sell (d-)” rating on shares of Ingevity in a research note on Tuesday, April 21st. Wells Fargo & Company increased their target price on Ingevity from $65.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Friday, February 27th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $82.00 target price on shares of Ingevity in a research note on Thursday, February 26th. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $80.00.

Ingevity Trading Up 2.2%

NYSE NGVT opened at $75.73 on Friday. Ingevity Corporation has a 12 month low of $39.74 and a 12 month high of $79.29. The stock has a market cap of $2.67 billion, a P/E ratio of -21.33 and a beta of 1.24. The stock’s fifty day moving average price is $71.20 and its 200-day moving average price is $64.15. The company has a current ratio of 1.42, a quick ratio of 0.79 and a debt-to-equity ratio of 27.83.

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