Southernsun Asset Management LLC Has $17.88 Million Stock Holdings in Ingevity Corporation $NGVT

Southernsun Asset Management LLC trimmed its holdings in shares of Ingevity Corporation (NYSE:NGVT) by 8.0% during the first quarter, HoldingsChannel reports. The fund owned 251,051 shares of the company’s stock after selling 21,954 shares during the quarter. Ingevity comprises 2.6% of Southernsun Asset Management LLC’s holdings, making the stock its 19th largest position. Southernsun Asset Management LLC’s holdings in Ingevity were worth $17,882,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NGVT. Global Retirement Partners LLC bought a new position in shares of Ingevity during the fourth quarter valued at $27,000. Meeder Asset Management Inc. acquired a new position in shares of Ingevity during the fourth quarter worth $33,000. Kestra Advisory Services LLC bought a new stake in shares of Ingevity in the fourth quarter worth $47,000. Geneos Wealth Management Inc. grew its stake in shares of Ingevity by 85.8% in the second quarter. Geneos Wealth Management Inc. now owns 838 shares of the company’s stock worth $36,000 after purchasing an additional 387 shares during the last quarter. Finally, Frazier Financial Advisors LLC acquired a new stake in Ingevity in the first quarter valued at $71,000. 91.59% of the stock is currently owned by institutional investors and hedge funds.

Ingevity Stock Up 0.1%

Ingevity stock opened at $74.82 on Wednesday. The company has a debt-to-equity ratio of 27.83, a quick ratio of 0.92 and a current ratio of 1.42. 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 $70.86 and a two-hundred day moving average price of $70.40. The firm has a market cap of $2.60 billion, a price-to-earnings ratio of -21.08 and a beta of 1.16.

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

Insiders Place Their Bets

In related news, SVP Terrance M. Dyer sold 496 shares of Ingevity 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 filing with the Securities & Exchange Commission, which is available at the SEC website. 0.88% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

NGVT has been the subject of several analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ingevity in a research report on Friday. Wall Street Zen upgraded Ingevity from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, July 7th. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $80.00.

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.