Segall Bryant & Hamill Increases Stake in Ingevity Co.

Segall Bryant & Hamill LLC has increased its investment in Ingevity Co. (NYSE:NGVT) by 8.6% during the fourth quarter, according to a recent Form 13F filing made with the SEC. After acquiring an additional 101,866 shares during this period, the fund now holds a total of 1,287,281 shares of Ingevity's stock. This investment represents about 0.7% of Segall Bryant & Hamill LLC's overall portfolio, positioning the stock as their 18th largest holding. The total value of their Ingevity shares amounts to approximately $52.5 million at the end of the last quarter.

Other hedge funds have also made adjustments to their positions in Ingevity. For example, Natixis Advisors LLC increased its stake by 6.7% during the third quarter, now owning 27,908 shares valued at about $1.1 million after purchasing an additional 1,751 shares. Similarly, First Horizon Advisors Inc. raised its holdings by 45.9%, owning 862 shares worth $34,000 after acquiring an extra 271 shares. Intech Investment Management LLC made a new investment in Ingevity during the same quarter valued at approximately $371,000. Additionally, Charles Schwab Investment Management Inc. expanded its stake by 9.1%, now holding 607,628 shares worth around $23.7 million after acquiring an additional 50,692 shares. Dynamic Technology Lab Private Ltd also took a new position during the third quarter valued at $918,000, bringing the total institutional ownership of Ingevity to 91.59%.

Analyst Ratings and Market Forecasts

Research firms have recently provided updates regarding Ingevity's stock. StockNews.com downgraded the stock from a "buy" to a "hold" rating in a report published on Monday. Conversely, BMO Capital Markets upgraded Ingevity from a "market perform" rating to "outperform" and raised their price target from $62.00 to $65.00 in a note issued on February 26th. Currently, three analysts maintain a hold rating, while four have given it a buy rating. According to MarketBeat.com, Ingevity has an average rating of "Moderate Buy" with a consensus target price set at $55.17.

Ingevity's Stock Performance

The stock for Ingevity (NYSE:NGVT) opened at $43.26 on Tuesday. The 50-day moving average for the stock stands at $45.36, while the two-hundred day moving average is $42.39. Additionally, the company has a debt-to-equity ratio of 6.86, a current ratio of 1.87, and a quick ratio of 1.04. Ingevity's market cap is approximately $1.57 billion, with a price-to-earnings ratio of -3.65 and a beta of 1.53. Over the past year, the stock has reached a low of $30.90 and a high of $56.30.

Ingevity reported its earnings results for the quarter on February 18th, showing earnings of $0.95 per share, which exceeded analysts' expectations of $0.29 by $0.66. The company recorded a negative net margin of 30.60% but achieved a positive return on equity of 41.44%, with quarterly revenue reported at $298.80 million, exceeding the analyst estimates of $297.40 million. Looking ahead, analysts project that Ingevity will post earnings of $4.45 per share for the current fiscal year.

About Ingevity

Ingevity Corporation specializes in the manufacture and sale of activated carbon products, specialty chemicals, and engineered polymers across various regions, including North America, the Asia Pacific, Europe, the Middle East, Africa, and South America. The company operates through three primary segments: Performance Materials, Performance Chemicals, and Advanced Polymer Technologies.

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