Howe & Rusling Inc. Sells 378 Shares of Ingevity Corporation $NGVT

Howe & Rusling Inc. trimmed its stake in Ingevity Corporation (NYSE:NGVT) by 6.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,417 shares of the company’s stock after selling 378 shares during the period. Howe & Rusling Inc.’s holdings in Ingevity were worth $214,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in NGVT. Ameriprise Financial Inc. raised its position in shares of Ingevity by 1.3% in the 4th quarter. Ameriprise Financial Inc. now owns 224,199 shares of the company’s stock worth $9,136,000 after acquiring an additional 2,810 shares in the last quarter. Balyasny Asset Management L.P. bought a new position in shares of Ingevity in the 4th quarter worth $302,000. Deutsche Bank AG raised its position in shares of Ingevity by 53.3% in the 4th quarter. Deutsche Bank AG now owns 33,936 shares of the company’s stock worth $1,383,000 after acquiring an additional 11,801 shares in the last quarter. Gotham Asset Management LLC raised its position in shares of Ingevity by 133.0% in the 4th quarter. Gotham Asset Management LLC now owns 29,369 shares of the company’s stock worth $1,197,000 after acquiring an additional 16,765 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Ingevity by 3.9% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,710 shares of the company’s stock worth $844,000 after acquiring an additional 781 shares in the last quarter. 91.59% of the stock is owned by institutional investors.

Ingevity Stock Down 1.2%

Shares of NGVT stock opened at $58.09 on Friday. The stock’s 50-day simple moving average is $51.50 and its 200-day simple moving average is $44.08. The company has a debt-to-equity ratio of 10.24, a quick ratio of 0.80 and a current ratio of 1.36. The firm has a market capitalization of $2.12 billion, a PE ratio of -9.76 and a beta of 1.44. Ingevity Corporation has a fifty-two week low of $28.49 and a fifty-two week high of $60.77.

Ingevity (NYSE:NGVT) last announced its quarterly earnings data on Monday, August 4th. The company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.02 by $0.37. The business had revenue of $365.10 million for the quarter, compared to analyst estimates of $378.70 million. Ingevity had a positive return on equity of 84.92% and a negative net margin of 16.35%.The company’s revenue was down 6.5% on a year-over-year basis. During the same period in the prior year, the company earned $1.01 earnings per share. Ingevity has set its FY 2025 guidance at EPS. Equities analysts expect that Ingevity Corporation will post 4.45 earnings per share for the current year.

Analyst Ratings Changes

NGVT has been the subject of several recent research reports. Wall Street Zen raised Ingevity from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 9th. BMO Capital Markets boosted their target price on Ingevity from $62.00 to $68.00 and gave the stock an “outperform” rating in a research note on Friday, September 5th. Finally, Wells Fargo & Company boosted their target price on Ingevity from $38.00 to $48.00 and gave the stock an “equal weight” rating in a research note on Monday, July 14th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $58.00.

About Ingevity

Ingevity Corporation manufactures and sells activated carbon products, derivative specialty chemicals, and engineered polymers in North America, the Asia Pacific, Europe, the Middle East, Africa, and South America. It operates through three segments: Performance Materials, Performance Chemicals, and Advanced Polymer Technologies.