Allspring Global Investments Holdings LLC Sells 44,149 Shares of Ingevity Corporation $NGVT

Allspring Global Investments Holdings LLC decreased its holdings in shares of Ingevity Corporation (NYSE:NGVT) by 32.8% during the first quarter, according to its most recent filing with the SEC. The firm owned 90,368 shares of the company’s stock after selling 44,149 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Ingevity were worth $6,532,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Millennium Management LLC grew its stake in Ingevity by 1.3% in the third quarter. Millennium Management LLC now owns 1,189,524 shares of the company’s stock valued at $65,650,000 after purchasing an additional 15,562 shares during the last quarter. Royce & Associates LP boosted its holdings in shares of 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 buying an additional 79,059 shares in the last quarter. Brown Advisory Inc. grew its position in shares of Ingevity by 15.4% in the 4th quarter. Brown Advisory Inc. now owns 1,040,944 shares of the company’s stock worth $61,603,000 after buying an additional 138,859 shares during the last quarter. Simcoe Capital Management LLC grew its position in shares of Ingevity by 9.4% in the 4th quarter. Simcoe Capital Management LLC now owns 1,020,945 shares of the company’s stock worth $60,420,000 after buying an additional 87,490 shares during the last quarter. Finally, Victory Capital Management Inc. grew its holdings in Ingevity by 7.4% in the fourth quarter. Victory Capital Management Inc. now owns 867,915 shares of the company’s stock worth $51,363,000 after purchasing an additional 60,163 shares during the last quarter. Institutional investors own 91.59% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on NGVT shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ingevity in a research report on Friday, July 17th. Wall Street Zen upgraded Ingevity from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, July 7th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $80.00.

Ingevity Stock Performance

Shares of NGVT opened at $73.64 on Friday. The company has a debt-to-equity ratio of 27.83, a quick ratio of 0.92 and a current ratio of 1.42. The stock has a 50-day moving average of $70.97 and a two-hundred day moving average of $70.60. The stock has a market cap of $2.56 billion, a P/E ratio of -20.75 and a beta of 1.16. Ingevity Corporation has a one year low of $39.74 and a one year high of $79.29.

Ingevity (NYSE:NGVT) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.31. Ingevity had a positive return on equity of 207.82% and a negative net margin of 10.55%.The firm had revenue of $258.00 million during the quarter, compared to analysts’ expectations of $254.73 million. During the same period last year, the business posted $1.01 earnings per share. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. Ingevity has set its FY 2026 guidance at 4.700-5.200 EPS. As a group, research analysts predict that Ingevity Corporation will post 5.05 EPS for the current year.

Insider Buying and Selling 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 completion of the transaction, the senior vice president owned 7,202 shares of the company’s stock, valued at $493,264.98. This trade represents a 6.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.88% of the stock is owned by insiders.

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.