Key Takeaways NGVT stock rose 18.7% in 3 months, beating the specialty chemicals industry and the broader market.NGVT unlocked value by selling its CTO refinery assets for $110M, with up to $19M tied to future milestones.NGVT's acquisitions improved efficacy and margins, adding technologies and exposure to coatings and polymers.Ingevity Corporation’s (NGVT) shares have gained 18.7% over the past three months. The company has also outperformed the Zacks Chemical - Specialty industry’s 4.8% growth and the S&P ...

Core Insights - Ingevity Corporation (NGVT) shares have increased by 26.6% over the past six months, outperforming the Zacks Chemical - Specialty industry's decline of 7.3% and the S&P 500's increase of 11.8% during the same period [1][7] Group 1: Strategic Acquisitions - Ingevity is enhancing its portfolio through strategic acquisitions, including Georgia-Pacific's pine chemicals business, which has optimized production and reduced costs, leading to margin expansion [2] - The acquisition of Capa caprolactone has introduced a differentiated technology platform with applications in coatings, adhesives, and specialty polymers, contributing to a sustainable revenue stream [2] - The acquisition of Ozark Materials strengthens Ingevity's position in the construction market, allowing the company to capitalize on infrastructure demand [2] Group 2: Long-Term Growth Initiatives - Ingevity is implementing initiatives to ensure long-term growth, including repositioning its Performance Chemicals business by exiting lower-margin markets, which has improved working capital and increased free cash flow and EBITDA [3] - The potential divestiture of Advanced Polymer Technologies is expected to further enhance margins [4] - Growth is supported by the first commercial sales of Tall Oil Fatty Acid in European biofuels and expanded production capacity for soy-based fatty acids [4] - Capacity additions in caprolactone monomers and polyols, opportunities in the methane value chain, and the globalization of the Pavement Technology business are also expected to drive growth [4]