Renaissance Technologies LLC Raises Stake in Ingevity Corporation $NGVT

Renaissance Technologies LLC raised its holdings in Ingevity Corporation (NYSE:NGVT) by 41.5% during the first quarter, HoldingsChannel reports. The firm owned 122,000 shares of the company’s stock after buying an additional 35,800 shares during the period. Renaissance Technologies LLC’s holdings in Ingevity were worth $8,690,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in NGVT. Millennium Management LLC boosted its stake in shares of Ingevity by 1.3% during the third quarter. Millennium Management LLC now owns 1,189,524 shares of the company’s stock worth $65,650,000 after buying an additional 15,562 shares during the period. Royce & Associates LP increased its position in 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 acquiring an additional 79,059 shares during the period. Brown Advisory Inc. increased its position in 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 acquiring an additional 138,859 shares during the period. Simcoe Capital Management LLC raised its stake in Ingevity by 9.4% during the 4th quarter. Simcoe Capital Management LLC now owns 1,020,945 shares of the company’s stock valued at $60,420,000 after acquiring an additional 87,490 shares during the last quarter. Finally, Victory Capital Management Inc. raised its stake in Ingevity by 7.4% during the 4th quarter. Victory Capital Management Inc. now owns 867,915 shares of the company’s stock valued at $51,363,000 after acquiring an additional 60,163 shares during the last quarter. 91.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NGVT has been the topic of several analyst reports. Weiss Ratings upgraded Ingevity from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Friday. Wall Street Zen cut Ingevity from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $80.00.

Insider Buying and Selling at Ingevity

In related news, SVP Terrance M. Dyer sold 496 shares of Ingevity stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $68.49, for a total value of $33,971.04. Following the sale, the senior vice president directly owned 7,202 shares in the company, valued at $493,264.98. The trade was a 6.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.88% of the stock is currently owned by company insiders.

Ingevity Trading Up 0.1%

NYSE NGVT opened at $73.16 on Monday. 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 stock has a market capitalization of $2.52 billion, a P/E ratio of 49.77 and a beta of 1.16. Ingevity Corporation has a 52-week low of $39.74 and a 52-week high of $79.29. The firm has a 50-day moving average price of $71.76 and a 200 day moving average price of $71.01.

Ingevity (NYSE:NGVT) last released its 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 company 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. Equities research analysts expect that Ingevity Corporation will post 5.05 EPS for the current 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.