MetLife Investment Management LLC Decreases Stock Position in Ingevity Corporation $NGVT

MetLife Investment Management LLC reduced its position in Ingevity Corporation (NYSE:NGVT) by 1.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,798 shares of the company’s stock after selling 290 shares during the quarter. MetLife Investment Management LLC owned approximately 0.06% of Ingevity worth $863,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the company. PNC Financial Services Group Inc. increased its position in Ingevity by 2.4% in the first quarter. PNC Financial Services Group Inc. now owns 12,389 shares of the company’s stock worth $490,000 after buying an additional 292 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S increased its position in Ingevity by 21.6% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,670 shares of the company’s stock worth $66,000 after buying an additional 297 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Ingevity by 4.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 8,007 shares of the company’s stock worth $317,000 after buying an additional 333 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Ingevity by 119.1% in the first quarter. GAMMA Investing LLC now owns 1,137 shares of the company’s stock valued at $45,000 after purchasing an additional 618 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Ingevity by 3.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,710 shares of the company’s stock valued at $844,000 after purchasing an additional 781 shares in the last quarter. 91.59% of the stock is owned by hedge funds and other institutional investors.

Ingevity Price Performance

Ingevity stock opened at $59.69 on Friday. Ingevity Corporation has a 52 week low of $28.49 and a 52 week high of $59.95. The business has a 50-day simple moving average of $50.19 and a 200 day simple moving average of $43.67. The company has a quick ratio of 0.80, a current ratio of 1.36 and a debt-to-equity ratio of 10.24. The stock has a market cap of $2.18 billion, a price-to-earnings ratio of -10.03 and a beta of 1.44.

Ingevity (NYSE:NGVT) last posted its earnings results on Monday, August 4th. The company reported $1.39 EPS for the quarter, topping the consensus estimate of $1.02 by $0.37. Ingevity had a positive return on equity of 84.92% and a negative net margin of 16.35%.The business had revenue of $365.10 million during the quarter, compared to analysts’ expectations of $378.70 million. During the same period in the previous year, the business earned $1.01 earnings per share. The firm’s revenue was down 6.5% on a year-over-year basis. Ingevity has set its FY 2025 guidance at EPS. On average, research analysts forecast that Ingevity Corporation will post 4.45 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Wall Street Zen upgraded Ingevity from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 9th. BMO Capital Markets lifted their price target on Ingevity from $62.00 to $68.00 and gave the company an “outperform” rating in a research report on Friday. Finally, Wells Fargo & Company lifted their price target on Ingevity from $38.00 to $48.00 and gave the company an “equal weight” rating in a research report on Monday, July 14th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $58.00.

Ingevity Profile

Ingevity Corporation manufactures and sells activated carbon products, derivative specialty chemicals, and engineered polymers in North America, the Asia Pacific, Europe, the Middle East, Africa, and South America. It operates through three segments: Performance Materials, Performance Chemicals, and Advanced Polymer Technologies.