Royce & Associates LP Increases Stake in Ingevity Corporation $NGVT

Royce & Associates LP increased its holdings in shares of Ingevity Corporation (NYSE:NGVT) by 7.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,111,158 shares of the company’s stock after purchasing an additional 79,059 shares during the period. Ingevity accounts for about 0.7% of Royce & Associates LP’s investment portfolio, making the stock its 14th biggest holding. Royce & Associates LP’s holdings in Ingevity were worth $65,758,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in NGVT. Principal Financial Group Inc. increased its stake in Ingevity by 269.9% during the 4th quarter. Principal Financial Group Inc. now owns 652,237 shares of the company’s stock worth $38,599,000 after buying an additional 475,907 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Ingevity by 311.8% during the 1st 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 buying an additional 454,579 shares during the period. Simcoe Capital Management LLC increased its stake in Ingevity by 188.8% during the 2nd quarter. Simcoe Capital Management LLC now owns 624,935 shares of the company’s stock worth $26,928,000 after buying an additional 408,508 shares during the period. Boston Partners purchased a new stake in Ingevity during the 3rd quarter worth approximately $14,171,000. Finally, Marshall Wace LLP increased its stake in Ingevity by 217.4% during the 3rd quarter. Marshall Wace LLP now owns 228,201 shares of the company’s stock worth $12,594,000 after buying an additional 156,301 shares during the period. 91.59% of the stock is owned by hedge funds and other institutional investors.

Ingevity Stock Performance

Shares of NGVT opened at $66.48 on Tuesday. The stock has a 50 day moving average price of $71.43 and a 200 day moving average price of $65.33. The company has a quick ratio of 0.92, a current ratio of 1.42 and a debt-to-equity ratio of 27.83. The company has a market capitalization of $2.31 billion, a price-to-earnings ratio of -18.73 and a beta of 1.24. Ingevity Corporation has a 52-week low of $39.74 and a 52-week high of $79.29.

Ingevity (NYSE:NGVT) last announced its quarterly 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 the consensus estimate of $254.73 million. Ingevity had a positive return on equity of 207.82% and a negative net margin of 10.55%.The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.01 earnings per share. Ingevity has set its FY 2026 guidance at 4.700-5.200 EPS. Research analysts predict that Ingevity Corporation will post 5.05 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on NGVT shares. Wall Street Zen raised shares of Ingevity from a “hold” rating to a “strong-buy” rating in a research note on Saturday, May 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ingevity in a research note on Tuesday, April 21st. BMO Capital Markets reiterated an “outperform” rating and issued a $83.00 price objective on shares of Ingevity in a research note on Monday, March 2nd. Jefferies Financial Group reiterated a “buy” rating and issued a $82.00 price objective on shares of Ingevity in a research note on Thursday, February 26th. Finally, Wells Fargo & Company lifted their price objective on Ingevity from $65.00 to $75.00 and gave the company an “equal weight” rating in a research note on Friday, February 27th. Two investment 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 MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $80.00.

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.