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

Palisade Capital Management LP bought a new stake in Ingevity Corporation (NYSE:NGVT) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 234,516 shares of the company’s stock, valued at approximately $17,511,000. Palisade Capital Management LP owned approximately 0.68% of Ingevity at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in NGVT. Global Retirement Partners LLC bought a new stake in shares of Ingevity in the 4th quarter worth approximately $27,000. Frazier Financial Advisors LLC bought a new stake in Ingevity in the second quarter valued at approximately $37,000. Meeder Asset Management Inc. purchased a new position in shares of Ingevity in the fourth quarter worth $33,000. Kestra Advisory Services LLC bought a new stake in Ingevity during the 4th quarter valued at $47,000. Finally, Geneos Wealth Management Inc. increased its position in shares of 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 acquiring an additional 387 shares during the period. Institutional investors own 91.59% of the company’s stock.

Ingevity Stock Up 0.4%

Shares of Ingevity stock opened at $69.08 on Wednesday. Ingevity Corporation has a twelve month low of $45.85 and a twelve month high of $79.29. The company has a quick ratio of 1.15, a current ratio of 1.61 and a debt-to-equity ratio of 22.52. The company’s 50 day moving average is $73.72 and its 200 day moving average is $71.84. The company has a market cap of $2.38 billion, a price-to-earnings ratio of 46.99 and a beta of 1.16.

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

Wall Street Analyst Weigh In

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

Insider Activity at Ingevity

In other Ingevity news, CEO David H. Li sold 5,000 shares of the business’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $75.83, for a total transaction of $379,150.00. Following the completion of the sale, the chief executive officer directly owned 120,636 shares in the company, valued at $9,147,827.88. The trade was a 3.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 value of $199,707.48. Following the sale, the senior vice president owned 15,722 shares of the company’s stock, valued at approximately $1,159,025.84. This represents a 14.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 18,297 shares of company stock worth $1,381,452. 0.88% of the stock is owned by 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.