Rice Hall James & Associates LLC Purchases New Stake in Ingevity Corporation $NGVT

Rice Hall James & Associates LLC acquired a new position in shares of Ingevity Corporation (NYSE:NGVT) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 351,203 shares of the company’s stock, valued at approximately $26,224,000. Ingevity makes up 1.3% of Rice Hall James & Associates LLC’s holdings, making the stock its 20th biggest holding.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Simplicity Wealth LLC purchased a new stake in Ingevity in the 2nd quarter valued at $235,000. Global Retirement Partners LLC acquired a new stake in shares of Ingevity in the 2nd quarter worth $45,000. Bank of New York Mellon Corp purchased a new position in shares of Ingevity during the 2nd quarter worth $16,035,000. State of Wyoming purchased a new position in shares of Ingevity during the 2nd quarter worth $824,000. Finally, Oppenheimer Asset Management Inc. acquired a new position in shares of Ingevity during the 2nd quarter valued at about $1,037,000. Institutional investors and hedge funds own 91.59% of the company’s stock.

Insider Transactions at Ingevity

In related news, SVP Ryan C. Fisher sold 2,709 shares of the firm’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $73.72, for a total transaction of $199,707.48. Following the completion of the sale, the senior vice president directly owned 15,722 shares of the company’s stock, valued at approximately $1,159,025.84. This trade represents a 14.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO David H. Li sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $76.62, for a total value of $383,100.00. Following the sale, the chief executive officer directly owned 135,636 shares of the company’s stock, valued at $10,392,430.32. The trade was a 3.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 8,205 shares of company stock worth $616,779. 0.88% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on NGVT shares. Weiss Ratings raised shares of Ingevity from a “sell (d-)” rating to a “hold (c-)” rating in a report on Friday, July 31st. Wall Street Zen downgraded shares of Ingevity from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 1st. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Ingevity has a consensus rating of “Hold” and an average price target of $80.00.

Ingevity Trading Down 1.4%

NGVT opened at $75.70 on Tuesday. The stock has a market capitalization of $2.60 billion, a PE ratio of 51.50 and a beta of 1.16. Ingevity Corporation has a one year low of $45.85 and a one year high of $79.29. The company has a debt-to-equity ratio of 22.52, a quick ratio of 1.15 and a current ratio of 1.61. The business’s 50 day moving average price is $73.75 and its 200 day moving average price is $71.72.

Ingevity (NYSE:NGVT) last posted 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. Ingevity had a return on equity of 284.70% and a net margin of 4.65%.The company had revenue of $314.10 million during the quarter, compared to analysts’ expectations of $312.20 million. Ingevity has set its FY 2026 guidance at 5.000-5.450 EPS. As a group, equities research analysts expect that Ingevity Corporation will post 5.4 EPS for the current year.

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.