Palisade Capital Management LP Purchases Shares of 234,516 Ingevity Corporation $NGVT

Palisade Capital Management LP purchased a new position in Ingevity Corporation (NYSE:NGVT) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 234,516 shares of the company’s stock, valued at approximately $17,511,000.

Several other institutional investors have also recently made changes to their positions in the stock. BlackRock Inc. bought a new position in shares of Ingevity in the second quarter worth approximately $400,545,000. Millennium Management LLC boosted its position in shares of Ingevity by 1.3% during the third quarter. Millennium Management LLC now owns 1,189,524 shares of the company’s stock worth $65,650,000 after acquiring an additional 15,562 shares during the last quarter. Royce & Associates LP boosted its position in shares of Ingevity by 7.7% during the fourth quarter. Royce & Associates LP now owns 1,111,158 shares of the company’s stock worth $65,758,000 after acquiring an additional 79,059 shares during the last quarter. Brown Advisory Inc. grew its stake in Ingevity by 15.4% during the fourth quarter. Brown Advisory Inc. now owns 1,040,944 shares of the company’s stock valued at $61,603,000 after acquiring an additional 138,859 shares in the last quarter. Finally, Simcoe Capital Management LLC grew its stake in Ingevity by 9.4% during the fourth quarter. Simcoe Capital Management LLC now owns 1,020,945 shares of the company’s stock valued at $60,420,000 after acquiring an additional 87,490 shares in the last quarter. Institutional investors own 91.59% of the company’s stock.

Ingevity Stock Performance

Shares of NYSE NGVT opened at $69.08 on Wednesday. Ingevity Corporation has a 12 month low of $45.85 and a 12 month high of $79.29. The company has a current ratio of 1.61, a quick ratio of 1.15 and a debt-to-equity ratio of 22.52. The stock has a market cap of $2.38 billion, a price-to-earnings ratio of 46.99 and a beta of 1.16. The company has a 50 day simple moving average of $73.72 and a two-hundred day simple moving average of $71.84.

Ingevity (NYSE:NGVT) last posted its earnings results on Wednesday, July 29th. The company reported $1.74 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.41. The firm had revenue of $314.10 million for the quarter, compared to analysts’ expectations of $312.20 million. Ingevity had a return on equity of 284.70% and a net margin of 4.65%.Ingevity has set its FY 2026 guidance at 5.000-5.450 EPS. As a group, analysts predict that Ingevity Corporation will post 5.4 earnings per share for the current year.

Analyst Upgrades and Downgrades

NGVT has been the topic of a number of research analyst reports. Wall Street Zen downgraded Ingevity from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 1st. Weiss Ratings upgraded Ingevity from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Friday, July 31st. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $80.00.

Insider Activity at Ingevity

In other Ingevity news, SVP Ryan C. Fisher sold 2,709 shares of the business’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $73.72, for a total transaction of $199,707.48. Following the sale, the senior vice president directly owned 15,722 shares in the company, valued at $1,159,025.84. This represents a 14.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David H. Li sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $75.83, for a total transaction of $379,150.00. Following the completion of the transaction, the chief executive officer directly owned 120,636 shares of the company’s stock, valued at $9,147,827.88. This represents a 3.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 18,297 shares of company stock worth $1,381,452. 0.88% of the stock is currently owned by company insiders.

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.