Research from Water Tower Research, Water Tower Research

Water Tower Research

Research from Water Tower Research

Water Tower Research is a leading equity research firm that provides research on micro, small and mid cap companies.

Water Tower Research was founded by Wall Street veterans after witnessing a fundamental shift in the investment research industry with the result being a declining knowledge base among investors, a lack of awareness and a shrinking pool of fundamental research being conducted on companies across the small-cap and micro-cap spectrum. The same issues are now increasingly occurring in the mid-cap space. This sea change within the investment community is impacting not only the companies themselves but also current shareholders and potential investors. With significantly less active sell-side sponsorship by Wall Street, a substantial information gap has developed between companies and various constituents in the financial community. The net result is fewer channels for insight and information to flow between companies and investors.

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<ul><li>Illinois’ recent mega battery storage procurement marks meaningful progress toward its 3,000-MW 2030 target, although regional grid connection constraints limited participation.</li><li>In transportation, President Trump’s openness to Chinese automakers manufacturing in the US—provided they employ American workers—signals a potential shift in EV policy, despite congressional opposition, tariffs, and existing restrictions.</li><li>Meanwhile, the EPA’s proposed rollback of power plant carbon rules could weaken incentives for carbon capture and hydrogen. </li></ul>

Illinois’ recent mega battery storage procurement marks meaningful progress toward its 3,000-MW 2030 target, although regional grid connection constraints limited participation.In transportation, President Trump’s openness to Chinese automakers manufacturing in the US—provided they employ American workers—signals a potential shift in EV policy, despite congressional opposition, tariffs, and existing restrictions.Meanwhile, the EPA’s proposed rollback of power plant carbon rules could weaken incentives for carbon capture and hydrogen. 

NGVT  - Sustainable Investing Surveyor : Focus on Ingevity Corporation

<div><ul><li>Ingevity Corporation (NYSE: NGVT) is a global specialty materials company that develops advanced carbon and engineered materials solutions. </li><li>Its activated carbon technologies capture vehicle emissions for automakers and are beginning to remove PFAS from municipal drinking water, while its paving additives help road builders cut production costs and its specialty polymers serve industrial coatings customers. </li><li>NGVT offers investors growth that is increasingly anchored in the shift toward hybrid vehicles, emerging water treatment applications, and opportunities in warm-mix asphalt and energy storage.</li></ul></div>

Ingevity Corporation (NYSE: NGVT) is a global specialty materials company that develops advanced carbon and engineered materials solutions. Its activated carbon technologies capture vehicle emissions for automakers and are beginning to remove PFAS from municipal drinking water, while its paving additives help road builders cut production costs and its specialty polymers serve industrial coatings customers. NGVT offers investors growth that is increasingly anchored in the shift toward hybrid vehicles, emerging water treatment applications, and opportunities in warm-mix asphalt and energy storage.

NGVT: Strategy Taking Hold as Core Execution and Hybrid Vehicle Demand Strengthen Results

Thematic (Sector/Industry)

<ul><li>Balancing act. As the ag industry is preparing for the planting season, an early look at 2025 expectations by Farm Journal’s Ag Economists’ Monthly Monitor offers a mixed bag.</li><li>On one hand, after a two-year decline, net and cash farm income are expected to increase Y/Y in 2025.</li><li>On the other hand, the increase will be mostly due to an increase in government payments. </li></ul>

Balancing act. As the ag industry is preparing for the planting season, an early look at 2025 expectations by Farm Journal’s Ag Economists’ Monthly Monitor offers a mixed bag.On one hand, after a two-year decline, net and cash farm income are expected to increase Y/Y in 2025.On the other hand, the increase will be mostly due to an increase in government payments. 

Mat-Chem Notes - Tariff Concerns Proliferate as Geopolitics Remain Center Stage

<ul><li>WTR-CMI in 2024. Last year was difficult for specialty chemicals and materials stocks, with our WTR-CMI Index posting a rather modest 5% gain for the year, affected by &gt;40% Y/Y declines in lithium stocks.</li><li>The index’s performance was well off the pace of the Russell 2000 and S&amp;P 500, which posted returns of 10.8% and 24%, respectively, driven by the extraordinary gains of the “magnificent seven” tech and media stocks.</li><li>On a positive note, RYAM’s stock price nearly doubled during the year, driven by an <span style="font-size: var(--content-font-size);">improving pricing environment, better sales mix, and cost </span>containment efforts, as well as the ramp-up of the company’s Biomaterials business. </li></ul>

WTR-CMI in 2024. Last year was difficult for specialty chemicals and materials stocks, with our WTR-CMI Index posting a rather modest 5% gain for the year, affected by &gt;40% Y/Y declines in lithium stocks.The index’s performance was well off the pace of the Russell 2000 and S&amp;P 500, which posted returns of 10.8% and 24%, respectively, driven by the extraordinary gains of the “magnificent seven” tech and media stocks.On a positive note, RYAM’s stock price nearly doubled during the year, driven by an improving pricing environment, better sales mix, and cost containment efforts, as well as the ramp-up of the company’s Biomaterials business. 

Mat-Chem Notes - Looking Ahead by Looking Back at 2024

<ul><li>WTR-CMI last week. After the momentous US election, the stock market has rallied on expectations of lower regulations, lower taxes, and a more confrontational approach to China and other geopolitical adversaries.</li><li>Last week saw some profit taking across the market, with the Russell 2000, which we view as a better proxy for the broader market, declining 4%, with the large- cap, tech-heavy S&amp;P 500 posting a 2.1% decline.</li><li>Our WTR-CMI Index of 30 specialty chemicals and materials companies fared similarly, losing 2.2% of its value. </li></ul>

WTR-CMI last week. After the momentous US election, the stock market has rallied on expectations of lower regulations, lower taxes, and a more confrontational approach to China and other geopolitical adversaries.Last week saw some profit taking across the market, with the Russell 2000, which we view as a better proxy for the broader market, declining 4%, with the large- cap, tech-heavy S&amp;P 500 posting a 2.1% decline.Our WTR-CMI Index of 30 specialty chemicals and materials companies fared similarly, losing 2.2% of its value. 

Mat-Chem Notes - Growth Remains Elusive as Geopolitics of Battery Metals Heats Up

United States

Ingevity Corporation manufactures specialty chemicals. The Company offers adhesives, inks, soaps, detergents, agricultural chemicals, metalworking fluids, and lubricants. Ingevity markets its products worldwide.

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Ingevity Corp (NGVT US)

NGVT - Sustainable Investing Surveyor : Focus on Ingevity Corporation

Illinois’ recent mega battery storage procurement marks meaningful progress toward its 3,000-MW 2030 target, although regional grid connection...

Water Tower Research

NGVT: Strategy Taking Hold as Core Execution and Hybrid Vehicle Demand Strengthen Results

Ingevity Corporation (NYSE: NGVT) is a global specialty materials company that develops advanced carbon and engineered materials solutions.

Water Tower Research

Mat-Chem Notes - Tariff Concerns Proliferate as Geopolitics Remain Center Stage

Balancing act. As the ag industry is preparing for the planting season, an early look at 2025 expectations by Farm Journal’s Ag Economists’ Monthly...

Water Tower Research

Mat-Chem Notes - Looking Ahead by Looking Back at 2024

Last year was difficult for specialty chemicals and materials stocks, with our WTR-CMI Index posting a rather modest 5% gain for the year, affected...

Water Tower Research

Mat-Chem Notes - Growth Remains Elusive as Geopolitics of Battery Metals Heats Up

After the momentous US election, the stock market has rallied on expectations of lower regulations, lower taxes, and a more confrontational...

Water Tower Research

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