Fifth Third Bancorp Boosts Stock Holdings in Ingevity Corporation $NGVT

Fifth Third Bancorp raised its stake in Ingevity Corporation (NYSE:NGVT) by 11,117.1% during the first quarter, Holdings Channel reports. The firm owned 24,902 shares of the company’s stock after purchasing an additional 24,680 shares during the period. Fifth Third Bancorp’s holdings in Ingevity were worth $1,774,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in NGVT. Millennium Management LLC raised its position in shares of Ingevity by 1.3% in the 3rd quarter. Millennium Management LLC now owns 1,189,524 shares of the company’s stock worth $65,650,000 after buying an additional 15,562 shares during the period. Royce & Associates LP grew its position in Ingevity by 7.7% during the fourth quarter. Royce & Associates LP now owns 1,111,158 shares of the company’s stock valued at $65,758,000 after acquiring an additional 79,059 shares during the period. Brown Advisory Inc. grew its position in Ingevity by 15.4% during the fourth quarter. Brown Advisory Inc. now owns 1,040,944 shares of the company’s stock valued at $61,603,000 after acquiring an additional 138,859 shares during the period. Simcoe Capital Management LLC increased its stake in Ingevity by 9.4% during the fourth quarter. Simcoe Capital Management LLC now owns 1,020,945 shares of the company’s stock worth $60,420,000 after acquiring an additional 87,490 shares during the last quarter. Finally, Victory Capital Management Inc. increased its stake in Ingevity by 7.4% during the fourth quarter. Victory Capital Management Inc. now owns 867,915 shares of the company’s stock worth $51,363,000 after acquiring an additional 60,163 shares during the last quarter. 91.59% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Ingevity

In other news, SVP Terrance M. Dyer sold 496 shares of Ingevity stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $68.49, for a total transaction of $33,971.04. Following the sale, the senior vice president owned 7,202 shares in the company, valued at $493,264.98. This trade represents a 6.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.88% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

NGVT has been the topic of several research analyst reports. Wall Street Zen raised Ingevity from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, July 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of Ingevity in a research report on Friday, July 17th. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Ingevity currently has an average rating of “Hold” and an average price target of $80.00.

Ingevity Stock Down 0.1%

Shares of NYSE NGVT opened at $74.72 on Thursday. The stock has a fifty day moving average price of $70.92 and a 200 day moving average price of $70.51. The company has a current ratio of 1.42, a quick ratio of 0.92 and a debt-to-equity ratio of 27.83. Ingevity Corporation has a 12-month low of $39.74 and a 12-month high of $79.29. The company has a market cap of $2.60 billion, a P/E ratio of -21.05 and a beta of 1.16.

Ingevity (NYSE:NGVT) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.31. Ingevity had a positive return on equity of 207.82% and a negative net margin of 10.55%.The company had revenue of $258.00 million for the quarter, compared to analysts’ expectations of $254.73 million. During the same quarter in the previous year, the firm posted $1.01 earnings per share. The firm’s quarterly revenue was up 4.1% on a year-over-year basis. Ingevity has set its FY 2026 guidance at 4.700-5.200 EPS. Research analysts anticipate that Ingevity Corporation will post 5.05 EPS for the current fiscal year.

Ingevity Profile

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.