Insider Selling: Ingevity (NYSE:NGVT) SVP Sells $33,971.04 in Stock

Ingevity Corporation (NYSE:NGVT) SVP Terrance Dyer sold 496 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $68.49, for a total value of $33,971.04. Following the transaction, the senior vice president owned 7,202 shares of the company’s stock, valued at approximately $493,264.98. This represents a 6.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Ingevity Stock Performance

Shares of NYSE NGVT opened at $67.04 on Thursday. The company has a current ratio of 1.42, a quick ratio of 0.92 and a debt-to-equity ratio of 27.83. The stock has a 50 day simple moving average of $71.74 and a 200-day simple moving average of $66.22. The company has a market cap of $2.33 billion, a PE ratio of -18.88 and a beta of 1.18. Ingevity Corporation has a 12-month low of $39.74 and a 12-month high of $79.29.

Ingevity (NYSE:NGVT) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.31. The business 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 business’s revenue was up 4.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.01 earnings per share. Ingevity has set its FY 2026 guidance at 4.700-5.200 EPS. On average, equities research analysts forecast that Ingevity Corporation will post 5.05 EPS for the current year.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Ingevity

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Allianz Asset Management GmbH bought a new position in shares of Ingevity in the third quarter valued at $1,670,000. CWA Asset Management Group LLC bought a new position in shares of Ingevity in the fourth quarter valued at $1,305,000. Harvey Partners LLC increased its holdings in shares of Ingevity by 5.1% in the third quarter. Harvey Partners LLC now owns 601,000 shares of the company’s stock valued at $33,169,000 after buying an additional 28,953 shares in the last quarter. Alpha Wave Global LP bought a new position in shares of Ingevity in the third quarter valued at $8,395,000. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of Ingevity in the fourth quarter valued at $8,083,000. Institutional investors own 91.59% of the company’s stock.

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.