Oppenheimer Asset Management Inc. Lowers Stock Holdings in Ingevity Corporation $NGVT

Oppenheimer Asset Management Inc. reduced its position in Ingevity Corporation (NYSE:NGVT) by 36.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 14,705 shares of the company’s stock after selling 8,584 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Ingevity were worth $870,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Oakworth Capital Inc. purchased a new stake in Ingevity in the 3rd quarter worth approximately $28,000. Geneos Wealth Management Inc. boosted its holdings in shares of Ingevity by 85.8% in the 2nd quarter. Geneos Wealth Management Inc. now owns 838 shares of the company’s stock valued at $36,000 after purchasing an additional 387 shares during the last quarter. Headlands Technologies LLC acquired a new position in shares of Ingevity in the 2nd quarter valued at $46,000. CIBC Private Wealth Group LLC acquired a new position in shares of Ingevity in the 3rd quarter valued at $62,000. Finally, Assetmark Inc. acquired a new position in shares of Ingevity in the 4th quarter valued at $86,000. 91.59% of the stock is owned by hedge funds and other institutional investors.

Ingevity Stock Performance

NYSE:NGVT opened at $77.85 on Thursday. The company has a current ratio of 1.33, a quick ratio of 0.79 and a debt-to-equity ratio of 39.10. The firm has a market capitalization of $2.75 billion, a price-to-earnings ratio of -16.74 and a beta of 1.24. The firm’s fifty day simple moving average is $71.14 and its 200 day simple moving average is $64.01. Ingevity Corporation has a twelve month low of $36.47 and a twelve month high of $79.29.

Ingevity (NYSE:NGVT) last posted its earnings results on Wednesday, May 6th. The company reported $1.15 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.31. The business had revenue of $258.00 million for the quarter, compared to analyst estimates of $254.73 million. Ingevity had a negative net margin of 13.51% and a positive return on equity of 126.25%. The business’s quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.01 EPS. Ingevity has set its FY 2026 guidance at 4.700-5.200 EPS. As a group, equities research analysts expect that Ingevity Corporation will post 5.05 earnings per share for the current fiscal year.

Analysts Set New Price Targets

NGVT has been the topic of a number of research analyst reports. Jefferies Financial Group reiterated a “buy” rating and issued a $82.00 price target on shares of Ingevity in a report on Thursday, February 26th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ingevity in a report on Tuesday, April 21st. BMO Capital Markets reiterated an “outperform” rating and issued a $83.00 price target on shares of Ingevity in a report on Monday, March 2nd. Wells Fargo & Company lifted their price target on shares of Ingevity from $65.00 to $75.00 and gave the company an “equal weight” rating in a report on Friday, February 27th. Finally, Wall Street Zen lowered shares of Ingevity from a “buy” rating to a “hold” rating in a report on Saturday, April 4th. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $80.00.

Ingevity 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.