New York State Teachers Retirement System Decreases Stake in Ingevity Corporation $NGVT

New York State Teachers Retirement System cut its stake in Ingevity Corporation (NYSE:NGVT) by 21.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,338 shares of the company’s stock after selling 11,864 shares during the period. New York State Teachers Retirement System owned 0.12% of Ingevity worth $3,087,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of NGVT. Louisiana State Employees Retirement System acquired a new position in Ingevity during the 1st quarter valued at approximately $1,133,000. Contravisory Investment Management Inc. acquired a new stake in shares of Ingevity during the first quarter worth $278,000. RFG Advisory LLC purchased a new stake in shares of Ingevity during the first quarter valued at $279,000. SG Americas Securities LLC grew its holdings in shares of Ingevity by 115.8% during the first quarter. SG Americas Securities LLC now owns 18,595 shares of the company’s stock valued at $1,325,000 after buying an additional 9,980 shares during the last quarter. Finally, Evolve Private Wealth LLC increased its position in shares of Ingevity by 10.2% in the 1st quarter. Evolve Private Wealth LLC now owns 5,946 shares of the company’s stock valued at $424,000 after acquiring an additional 549 shares during the period. Institutional investors and hedge funds own 91.59% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on NGVT. Wall Street Zen upgraded Ingevity from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Weiss Ratings reissued a “sell (d-)” rating on shares of Ingevity in a report on Tuesday, April 21st. 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 stock. Based on data from MarketBeat.com, Ingevity currently has a consensus rating of “Hold” and a consensus target price of $80.00.

Ingevity Stock Performance

NGVT opened at $72.14 on Friday. The company has a debt-to-equity ratio of 27.83, a current ratio of 1.42 and a quick ratio of 0.92. The firm has a fifty day moving average price of $71.00 and a 200 day moving average price of $69.59. Ingevity Corporation has a 1 year low of $39.74 and a 1 year high of $79.29. The stock has a market cap of $2.51 billion, a P/E ratio of -20.32 and a beta of 1.16.

Ingevity (NYSE:NGVT) last released its quarterly earnings results on Wednesday, May 6th. The company reported $1.15 EPS for the quarter, beating the consensus estimate 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 company had revenue of $258.00 million for the quarter, compared to analyst estimates of $254.73 million. During the same quarter last year, the business earned $1.01 earnings per share. The firm’s revenue was up 4.1% on a year-over-year basis. Ingevity has set its FY 2026 guidance at 4.700-5.200 EPS. Equities research analysts anticipate that Ingevity Corporation will post 5.05 earnings per share for the current year.

Insider Activity

In other news, SVP Terrance M. Dyer sold 496 shares of the firm’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $68.49, for a total transaction of $33,971.04. Following the sale, the senior vice president directly owned 7,202 shares in the company, valued at $493,264.98. This trade represents a 6.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.88% of the stock is currently 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.