Vestcor Inc Acquires Shares of 10,533 Ingevity Corporation $NGVT

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

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Segall Bryant & Hamill LLC raised its holdings in Ingevity by 1.2% in the third quarter. Segall Bryant & Hamill LLC now owns 1,298,661 shares of the company’s stock worth $71,673,000 after purchasing an additional 15,451 shares during the period. Millennium Management LLC raised its holdings in Ingevity by 1.3% in the third quarter. Millennium Management LLC now owns 1,189,524 shares of the company’s stock worth $65,650,000 after purchasing an additional 15,562 shares during the period. Royce & Associates LP raised its holdings in Ingevity by 7.7% in the fourth quarter. Royce & Associates LP now owns 1,111,158 shares of the company’s stock worth $65,758,000 after purchasing an additional 79,059 shares during the period. Simcoe Capital Management LLC raised its holdings in Ingevity by 49.4% in the third quarter. Simcoe Capital Management LLC now owns 933,455 shares of the company’s stock worth $51,517,000 after purchasing an additional 308,520 shares during the period. Finally, Maple Rock Capital Partners Inc. raised its holdings in Ingevity by 3.2% in the third quarter. Maple Rock Capital Partners Inc. now owns 674,716 shares of the company’s stock worth $37,238,000 after purchasing an additional 21,200 shares during the period. 91.59% of the stock is owned by institutional investors.

Insider Activity at Ingevity

In related news, SVP Terrance M. Dyer sold 496 shares of the firm’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $68.49, for a total transaction of $33,971.04. Following the sale, the senior vice president directly owned 7,202 shares in the company, valued at $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 SEC, which is available at this hyperlink. 0.88% of the stock is currently owned by insiders.

Ingevity Trading Up 1.4%

Shares of NYSE:NGVT opened at $66.93 on Tuesday. Ingevity Corporation has a 12 month low of $39.74 and a 12 month high of $79.29. The company has a quick ratio of 0.92, a current ratio of 1.42 and a debt-to-equity ratio of 27.83. The company’s fifty day simple moving average is $71.46 and its 200 day simple moving average is $66.60. The firm has a market cap of $2.33 billion, a price-to-earnings ratio of -18.85 and a beta of 1.18.

Ingevity (NYSE:NGVT) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $1.15 EPS for the quarter, topping 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 business had revenue of $258.00 million for the quarter, compared to analyst estimates of $254.73 million. During the same period last year, the business posted $1.01 earnings per share. The firm’s quarterly revenue was up 4.1% on a year-over-year basis. Ingevity has set its FY 2026 guidance at 4.700-5.200 EPS. As a group, research analysts forecast that Ingevity Corporation will post 5.05 EPS for the current fiscal year.

Analyst Ratings Changes

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

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.