Legal & General Group Plc Invests $6.08 Million in Ingevity Corporation $NGVT

Legal & General Group Plc bought a new stake in shares of Ingevity Corporation (NYSE:NGVT) during the second quarter, Holdings Channel reports. The fund bought 81,453 shares of the company’s stock, valued at approximately $6,082,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Assetmark Inc. increased its holdings in Ingevity by 9.6% in the 1st quarter. Assetmark Inc. now owns 1,584 shares of the company’s stock worth $113,000 after acquiring an additional 139 shares in the last quarter. Advisory Services Network LLC lifted its holdings in Ingevity by 4.4% during the third quarter. Advisory Services Network LLC now owns 6,947 shares of the company’s stock valued at $383,000 after purchasing an additional 293 shares in the last quarter. Amundi lifted its holdings in Ingevity by 4.8% during the third quarter. Amundi now owns 6,626 shares of the company’s stock valued at $364,000 after purchasing an additional 302 shares in the last quarter. Isthmus Partners LLC lifted its holdings in Ingevity by 0.5% during the fourth quarter. Isthmus Partners LLC now owns 72,245 shares of the company’s stock valued at $4,275,000 after purchasing an additional 375 shares in the last quarter. Finally, Geneos Wealth Management Inc. grew its position in shares of Ingevity by 85.8% in the second quarter. Geneos Wealth Management Inc. now owns 838 shares of the company’s stock valued at $36,000 after purchasing an additional 387 shares during the period. Institutional investors and hedge funds own 91.59% of the company’s stock.

Ingevity Stock Up 0.8%

NGVT stock opened at $69.03 on Thursday. The company has a market cap of $2.37 billion, a price-to-earnings ratio of 46.96 and a beta of 1.17. The company has a current ratio of 1.61, a quick ratio of 1.15 and a debt-to-equity ratio of 22.52. Ingevity Corporation has a 12 month low of $45.85 and a 12 month high of $79.29. The firm has a 50-day moving average of $73.27 and a two-hundred day moving average of $71.67.

Ingevity (NYSE:NGVT) last issued its earnings results on Wednesday, July 29th. The company reported $1.74 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.41. The business had revenue of $314.10 million for the quarter, compared to analysts’ expectations of $312.20 million. Ingevity had a return on equity of 284.70% and a net margin of 4.65%.Ingevity has set its FY 2026 guidance at 5.000-5.450 EPS. As a group, analysts forecast that Ingevity Corporation will post 5.4 earnings per share for the current fiscal year.

Analyst Ratings Changes

NGVT has been the topic of a number of research reports. Weiss Ratings raised shares of Ingevity from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Friday, July 31st. Wall Street Zen cut Ingevity from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 1st. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $80.00.

Insiders Place Their Bets

In other Ingevity news, SVP Ryan C. Fisher sold 2,709 shares of the firm’s stock in a transaction on Monday, August 3rd. The stock was 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 directly owned 15,722 shares of the company’s stock, valued at $1,159,025.84. This trade represents a 14.70% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David H. Li sold 5,000 shares of the firm’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $75.83, for a total value of $379,150.00. Following the completion of the sale, the chief executive officer directly owned 120,636 shares of the company’s stock, valued at $9,147,827.88. This trade represents a 3.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 17,801 shares of company stock worth $1,347,481 in the last three months. 0.88% of the stock is currently owned by corporate insiders.

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.