Pictet Asset Management Holding SA Reduces Stock Position in Ingevity Corporation $NGVT

Pictet Asset Management Holding SA cut its stake in Ingevity Corporation (NYSE:NGVT) by 16.0% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 301,903 shares of the company’s stock after selling 57,307 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Ingevity were worth $21,505,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NGVT. Louisiana State Employees Retirement System bought a new stake in shares of Ingevity during the 1st quarter valued at $1,133,000. Contravisory Investment Management Inc. purchased a new position in Ingevity during the 1st quarter valued at about $278,000. RFG Advisory LLC purchased a new position in Ingevity during the 1st quarter valued at about $279,000. SG Americas Securities LLC increased its position 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 period. Finally, Evolve Private Wealth LLC lifted 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 buying an additional 549 shares in the last quarter. 91.59% of the stock is currently owned by institutional investors.

Ingevity Stock Performance

Shares of NGVT stock opened at $72.72 on Thursday. The firm has a market capitalization of $2.53 billion, a price-to-earnings ratio of -20.48 and a beta of 1.16. The stock has a fifty day moving average of $71.32 and a 200 day moving average of $68.99. Ingevity Corporation has a 52 week low of $39.74 and a 52 week high of $79.29. The company has a quick ratio of 0.92, a current ratio of 1.42 and a debt-to-equity ratio of 27.83.

Ingevity (NYSE:NGVT) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $1.15 EPS for the quarter, topping 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 business had revenue of $258.00 million during the quarter, compared to analyst estimates of $254.73 million. During the same period in the prior year, the business earned $1.01 EPS. The company’s revenue for the quarter was up 4.1% on a year-over-year basis. Ingevity has set its FY 2026 guidance at 4.700-5.200 EPS. As a group, research analysts expect that Ingevity Corporation will post 5.05 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Wall Street Zen lowered shares of Ingevity from a “strong-buy” rating to a “buy” rating in a research report on Monday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ingevity in a research note on Tuesday, April 21st. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $80.00.

Insider Activity

In related news, SVP Terrance M. Dyer sold 496 shares of the business’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $68.49, for a total transaction of $33,971.04. Following the transaction, the senior vice president owned 7,202 shares in the company, valued at $493,264.98. The trade was a 6.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.88% of the stock is owned by corporate 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.