State of Wyoming Invests $824,000 in Ingevity Corporation $NGVT

State of Wyoming purchased a new stake in shares of Ingevity Corporation (NYSE:NGVT) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 11,034 shares of the company’s stock, valued at approximately $824,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Millennium Management LLC grew its holdings in Ingevity by 1.3% during the 3rd quarter. Millennium Management LLC now owns 1,189,524 shares of the company’s stock worth $65,650,000 after acquiring an additional 15,562 shares in the last quarter. Royce & Associates LP raised its holdings in shares of Ingevity by 7.7% in the 4th quarter. Royce & Associates LP now owns 1,111,158 shares of the company’s stock valued at $65,758,000 after purchasing an additional 79,059 shares in the last quarter. Brown Advisory Inc. raised its holdings in shares of Ingevity by 15.4% in the 4th quarter. Brown Advisory Inc. now owns 1,040,944 shares of the company’s stock valued at $61,603,000 after purchasing an additional 138,859 shares in the last quarter. Simcoe Capital Management LLC lifted its position in shares of Ingevity by 9.4% in the 4th quarter. Simcoe Capital Management LLC now owns 1,020,945 shares of the company’s stock worth $60,420,000 after purchasing an additional 87,490 shares during the period. Finally, Victory Capital Management Inc. lifted its position in shares of Ingevity by 7.4% in the 4th quarter. Victory Capital Management Inc. now owns 867,915 shares of the company’s stock worth $51,363,000 after purchasing an additional 60,163 shares during the period. 91.59% of the stock is currently owned by institutional investors.

Insider Transactions at Ingevity

In related news, CEO David H. Li sold 5,000 shares of the business’s stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $76.62, for a total transaction of $383,100.00. Following the transaction, the chief executive officer directly owned 135,636 shares in the company, valued at $10,392,430.32. The trade was a 3.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Ryan C. Fisher sold 2,709 shares of the company’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $73.72, for a total value of $199,707.48. Following the transaction, the senior vice president directly owned 15,722 shares in the company, valued at $1,159,025.84. This represents a 14.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 8,205 shares of company stock valued at $616,779 in the last quarter. 0.88% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on NGVT shares. Weiss Ratings raised shares of Ingevity from a “sell (d-)” rating to a “hold (c-)” rating in a report on Friday, July 31st. Wall Street Zen lowered Ingevity from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 1st. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $80.00.

Ingevity Trading Up 1.6%

NYSE:NGVT opened at $76.53 on Friday. The stock has a market capitalization of $2.63 billion, a price-to-earnings ratio of 52.06 and a beta of 1.16. Ingevity Corporation has a 52 week low of $45.85 and a 52 week high of $79.29. The company has a quick ratio of 1.15, a current ratio of 1.61 and a debt-to-equity ratio of 22.52. The firm has a 50 day moving average of $73.57 and a 200 day moving average of $71.65.

Ingevity (NYSE:NGVT) last released its quarterly earnings results on Wednesday, July 29th. The company reported $1.74 earnings per share (EPS) 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 analyst estimates of $312.20 million. Ingevity had a net margin of 4.65% and a return on equity of 284.70%. Ingevity has set its FY 2026 guidance at 5.000-5.450 EPS. As a group, sell-side analysts anticipate that Ingevity Corporation will post 5.4 earnings per share for the current fiscal year.

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.