Ingevity (NYSE:NGVT) Stock Price Breaks Below Fifty Day Moving Average – Here’s What Happened

Ingevity Corporation (NYSE:NGVT) shares passed below its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $70.64 and traded as low as $70.19. Ingevity shares last traded at $70.62, with a volume of 264,497 shares changing hands.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Weiss Ratings raised shares of Ingevity from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, October 8th. Wall Street Zen lowered shares of Ingevity from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 1st. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $80.00.

Ingevity Stock Performance

The firm has a fifty day moving average of $70.42 and a 200-day moving average of $71.85. The stock has a market capitalization of $2.41 billion, a price-to-earnings ratio of 14.79 and a beta of 1.14. The company has a quick ratio of 1.15, a current ratio of 1.61 and a debt-to-equity ratio of 22.52.

Ingevity (NYSE:NGVT) last posted its earnings results on Wednesday, July 29th. The company reported $1.74 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.41. Ingevity had a return on equity of 284.70% and a net margin of 4.65%. The company had revenue of $314.10 million for the quarter, compared to analyst estimates of $312.20 million. Ingevity has set its FY 2026 guidance at 5.000-5.450 EPS. As a group, sell-side analysts anticipate that Ingevity Corporation will post 5.40 EPS for the current year.

Insider Activity

In other Ingevity news, CEO David H. Li sold 5,000 shares of the company’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $75.83, for a total value of $379,150.00. Following the sale, the chief executive officer owned 120,636 shares of the company’s stock, valued at $9,147,827.88. This represents a 3.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Ryan C. Fisher sold 2,709 shares of the stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $73.72, for a total transaction of $199,707.48. Following the completion of the sale, the senior vice president 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 17,801 shares of company stock valued at $1,347,481 over the last 90 days. 0.88% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Assetmark Inc. lifted its stake in Ingevity by 9.6% in the 1st quarter. Assetmark Inc. now owns 1,584 shares of the company’s stock valued at $113,000 after buying an additional 139 shares in the last quarter. Frazier Financial Advisors LLC purchased a new position in Ingevity during the second quarter worth $37,000. Nisa Investment Advisors LLC increased its position in Ingevity by 13.5% during the third quarter. Nisa Investment Advisors LLC now owns 4,228 shares of the company’s stock worth $299,000 after buying an additional 503 shares in the last quarter. Evolve Private Wealth LLC raised its holdings in shares of Ingevity by 10.2% in the first quarter. Evolve Private Wealth LLC now owns 5,946 shares of the company’s stock worth $424,000 after acquiring an additional 549 shares during the last quarter. Finally, Lazard Asset Management LLC raised its holdings in shares of Ingevity by 6.3% in the first quarter. Lazard Asset Management LLC now owns 9,262 shares of the company’s stock worth $660,000 after acquiring an additional 549 shares during the last quarter. 91.59% of the stock is owned by hedge funds and other institutional investors.

Ingevity Company Profile

Ingevity Corporation (NYSE: NGVT) is a specialty chemicals and materials company that develops products designed to improve performance, efficiency, and sustainability across a range of industrial and consumer applications. Its offerings serve markets including automotive, transportation, agriculture, coatings, adhesives, pavement markings, and industrial manufacturing.

The company is best known for activated carbon products used in automotive vapor-emission control systems, where they help capture fuel vapors and reduce emissions.