Voya Investment Management LLC Sells 6,362 Shares of Ingevity Corporation $NGVT

Voya Investment Management LLC decreased its position in shares of Ingevity Corporation (NYSE:NGVT) by 38.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,981 shares of the company’s stock after selling 6,362 shares during the period. Voya Investment Management LLC’s holdings in Ingevity were worth $395,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. First Hawaiian Bank raised its position in shares of Ingevity by 19.6% during the first quarter. First Hawaiian Bank now owns 12,832 shares of the company’s stock valued at $508,000 after buying an additional 2,102 shares during the last quarter. Jane Street Group LLC increased its position in Ingevity by 306.1% in the first quarter. Jane Street Group LLC now owns 88,883 shares of the company’s stock worth $3,519,000 after purchasing an additional 66,995 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Ingevity by 311.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 600,380 shares of the company’s stock worth $23,769,000 after purchasing an additional 454,579 shares during the last quarter. Empowered Funds LLC increased its position in Ingevity by 12.9% in the first quarter. Empowered Funds LLC now owns 5,181 shares of the company’s stock worth $205,000 after purchasing an additional 594 shares during the last quarter. Finally, Aristeia Capital L.L.C. bought a new stake in Ingevity in the first quarter worth $347,000. Institutional investors own 91.59% of the company’s stock.

Analyst Upgrades and Downgrades

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

Ingevity Stock Up 1.3%

NYSE:NGVT opened at $55.05 on Friday. Ingevity Corporation has a 1-year low of $28.49 and a 1-year high of $60.77. The company has a 50-day moving average of $53.45 and a 200 day moving average of $44.76. The firm has a market cap of $2.01 billion, a PE ratio of -9.25 and a beta of 1.44. The company has a debt-to-equity ratio of 10.24, a current ratio of 1.36 and a quick ratio of 0.80.

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

Ingevity Profile

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.