Oppenheimer Asset Management Inc. Makes New Investment in Ingevity Corporation $NGVT

Oppenheimer Asset Management Inc. acquired a new stake in shares of Ingevity Corporation (NYSE:NGVT) in the 2nd quarter, HoldingsChannel.com reports. The firm acquired 13,890 shares of the company’s stock, valued at approximately $1,037,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Global Retirement Partners LLC purchased a new position in shares of Ingevity during the fourth quarter worth $27,000. Meeder Asset Management Inc. purchased a new stake in Ingevity in the fourth quarter valued at $33,000. Geneos Wealth Management Inc. boosted its holdings in Ingevity by 85.8% in the second 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 stake in Ingevity during the 2nd quarter worth about $46,000. Finally, Kestra Advisory Services LLC acquired a new stake in Ingevity during the 4th quarter worth about $47,000. Institutional investors and hedge funds own 91.59% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Ingevity

In other Ingevity news, CEO David H. Li sold 5,000 shares of Ingevity stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $76.62, for a total value of $383,100.00. Following the completion of the transaction, the chief executive officer owned 135,636 shares of the company’s stock, valued at approximately $10,392,430.32. The trade was a 3.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Ryan C. Fisher sold 2,709 shares of the company’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 transaction, the senior vice president 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 disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 8,205 shares of company stock valued at $616,779. Corporate insiders own 0.88% of the company’s stock.

Ingevity Price Performance

NYSE:NGVT opened at $76.53 on Monday. The company has a debt-to-equity ratio of 22.52, a current ratio of 1.61 and a quick ratio of 1.15. The firm has a market cap of $2.63 billion, a price-to-earnings ratio of 52.06 and a beta of 1.16. The company has a 50 day moving average price of $73.57 and a 200-day moving average price of $71.66. Ingevity Corporation has a 1-year low of $45.85 and a 1-year high of $79.29.

Ingevity (NYSE:NGVT) last posted its earnings results on Wednesday, July 29th. The company reported $1.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.41. Ingevity had a net margin of 4.65% and a return on equity of 284.70%. The firm 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. Equities research analysts forecast 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.