Fifth Third Bancorp Grows Stock Position in Ingevity Corporation $NGVT

Fifth Third Bancorp boosted its holdings in Ingevity Corporation (NYSE:NGVT) by 11,117.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 24,902 shares of the company’s stock after acquiring an additional 24,680 shares during the period. Fifth Third Bancorp owned 0.07% of Ingevity worth $1,774,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in NGVT. Global Retirement Partners LLC acquired a new position in Ingevity during the fourth quarter worth about $27,000. Meeder Asset Management Inc. acquired a new stake in shares of Ingevity in the fourth quarter valued at approximately $33,000. Geneos Wealth Management Inc. increased its stake in shares of Ingevity by 85.8% during the 2nd quarter. Geneos Wealth Management Inc. now owns 838 shares of the company’s stock worth $36,000 after purchasing an additional 387 shares in the last quarter. Headlands Technologies LLC purchased a new position in shares of Ingevity during the 2nd quarter worth approximately $46,000. Finally, Kestra Advisory Services LLC acquired a new position in shares of Ingevity during the 4th quarter worth approximately $47,000. 91.59% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on NGVT shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ingevity in a report on Friday, July 17th. Wall Street Zen upgraded Ingevity from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, July 7th. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Ingevity presently has a consensus rating of “Hold” and a consensus target price of $80.00.

Insider Buying and Selling

In related news, SVP Terrance M. Dyer sold 496 shares of the company’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $68.49, for a total value of $33,971.04. Following the completion of the transaction, the senior vice president directly owned 7,202 shares in the company, valued at approximately $493,264.98. This represents a 6.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.88% of the company’s stock.

Ingevity Stock Down 0.1%

NGVT stock opened at $74.72 on Thursday. The stock has a market capitalization of $2.60 billion, a P/E ratio of -21.05 and a beta of 1.16. The company has a debt-to-equity ratio of 27.83, a quick ratio of 0.92 and a current ratio of 1.42. Ingevity Corporation has a one year low of $39.74 and a one year high of $79.29. The company has a 50 day moving average price of $70.92 and a two-hundred day moving average price of $70.51.

Ingevity (NYSE:NGVT) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $1.15 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $254.73 million. During the same period in the previous year, the firm posted $1.01 EPS. Ingevity’s revenue 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, sell-side analysts expect that Ingevity Corporation will post 5.05 EPS for the current year.

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.