Vestcor Inc Makes New $623,000 Investment in Ingevity Corporation $NGVT

Vestcor Inc acquired a new position in shares of Ingevity Corporation (NYSE:NGVT) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,533 shares of the company’s stock, valued at approximately $623,000.

Other large investors have also recently added to or reduced their stakes in the company. Global Retirement Partners LLC bought a new stake in Ingevity during the fourth quarter worth about $27,000. Geneos Wealth Management Inc. grew its stake in Ingevity by 85.8% during the second quarter. Geneos Wealth Management Inc. now owns 838 shares of the company’s stock worth $36,000 after buying an additional 387 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of Ingevity during the second quarter valued at approximately $46,000. CIBC Private Wealth Group LLC bought a new stake in shares of Ingevity during the third quarter valued at approximately $62,000. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Ingevity by 51.6% during the second quarter. EverSource Wealth Advisors LLC now owns 1,616 shares of the company’s stock valued at $70,000 after purchasing an additional 550 shares during the last quarter. 91.59% of the stock is owned by institutional investors.

Insider Transactions at Ingevity

In other Ingevity news, SVP Terrance M. Dyer sold 496 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $68.49, for a total value of $33,971.04. Following the transaction, the senior vice president directly owned 7,202 shares of the company’s stock, valued at approximately $493,264.98. This trade represents a 6.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.88% of the company’s stock.

Analysts Set New Price Targets

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

Ingevity Price Performance

NGVT opened at $66.93 on Tuesday. Ingevity Corporation has a one year low of $39.74 and a one year high of $79.29. The stock has a market capitalization of $2.33 billion, a P/E ratio of -18.85 and a beta of 1.18. The company has a debt-to-equity ratio of 27.83, a current ratio of 1.42 and a quick ratio of 0.92. The company’s 50 day simple moving average is $71.46 and its 200-day simple moving average is $66.60.

Ingevity (NYSE:NGVT) last announced its quarterly earnings data 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. Ingevity had a negative net margin of 10.55% and a positive return on equity of 207.82%. The firm had revenue of $258.00 million for the quarter, compared to analysts’ expectations of $254.73 million. During the same period last year, the firm earned $1.01 earnings per share. The business’s revenue for the quarter was up 4.1% on a year-over-year basis. Ingevity has set its FY 2026 guidance at 4.700-5.200 EPS. Sell-side analysts anticipate that Ingevity Corporation will post 5.05 earnings per share for the current fiscal year.

Ingevity Company 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.