Ingevity Co. (NYSE:NGVT) Shares Sold by Comerica Bank

Comerica Bank reduced its stake in Ingevity Co. (NYSE:NGVTGet Rating) by 10.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 16,199 shares of the company’s stock after selling 1,866 shares during the quarter. Comerica Bank’s holdings in Ingevity were worth $1,047,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Bank of Montreal Can raised its position in Ingevity by 3.8% in the first quarter. Bank of Montreal Can now owns 5,186 shares of the company’s stock valued at $338,000 after purchasing an additional 188 shares during the period. Geneos Wealth Management Inc. lifted its stake in Ingevity by 96.4% during the 2nd quarter. Geneos Wealth Management Inc. now owns 487 shares of the company’s stock worth $30,000 after acquiring an additional 239 shares in the last quarter. Xponance Inc. boosted its holdings in Ingevity by 4.1% during the 2nd quarter. Xponance Inc. now owns 6,406 shares of the company’s stock valued at $404,000 after acquiring an additional 254 shares during the period. Truist Financial Corp increased its stake in Ingevity by 7.7% during the second quarter. Truist Financial Corp now owns 3,670 shares of the company’s stock worth $232,000 after purchasing an additional 263 shares during the period. Finally, Sei Investments Co. lifted its position in shares of Ingevity by 3.8% during the second quarter. Sei Investments Co. now owns 7,890 shares of the company’s stock worth $513,000 after purchasing an additional 290 shares in the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Ingevity Stock Up 1.1 %

Shares of NYSE:NGVT opened at $81.75 on Wednesday. The company has a quick ratio of 1.25, a current ratio of 2.22 and a debt-to-equity ratio of 1.82. Ingevity Co. has a fifty-two week low of $56.31 and a fifty-two week high of $82.08. The stock has a market cap of $3.06 billion, a price-to-earnings ratio of 14.07 and a beta of 1.77. The firm’s 50 day moving average price is $75.17 and its 200 day moving average price is $70.12.

Ingevity (NYSE:NGVTGet Rating) last announced its quarterly earnings data on Wednesday, November 2nd. The company reported $2.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.37. The business had revenue of $482.00 million for the quarter, compared to analyst estimates of $428.39 million. Ingevity had a net margin of 13.90% and a return on equity of 36.37%. As a group, equities research analysts predict that Ingevity Co. will post 6.36 earnings per share for the current fiscal year.

Insider Buying and Selling at Ingevity

In other news, SVP Richard Allen White, Jr. sold 1,639 shares of the company’s stock in a transaction dated Thursday, December 1st. The stock was sold at an average price of $77.97, for a total transaction of $127,792.83. Following the completion of the transaction, the senior vice president now directly owns 3,995 shares of the company’s stock, valued at approximately $311,490.15. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Ingevity news, SVP Richard Allen White, Jr. sold 1,639 shares of the firm’s stock in a transaction that occurred on Thursday, December 1st. The shares were sold at an average price of $77.97, for a total transaction of $127,792.83. Following the sale, the senior vice president now owns 3,995 shares of the company’s stock, valued at $311,490.15. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Erik Spencer Ripple sold 856 shares of the company’s stock in a transaction on Friday, December 2nd. The shares were sold at an average price of $77.84, for a total transaction of $66,631.04. Following the completion of the transaction, the insider now owns 10,106 shares of the company’s stock, valued at approximately $786,651.04. The disclosure for this sale can be found here. 0.71% of the stock is owned by insiders.

Analysts Set New Price Targets

NGVT has been the topic of several recent research reports. StockNews.com downgraded shares of Ingevity from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 6th. Wells Fargo & Company upped their price objective on Ingevity from $73.00 to $76.00 and gave the stock an “equal weight” rating in a research report on Monday, January 9th. Finally, BMO Capital Markets assumed coverage on Ingevity in a report on Tuesday, October 11th. They issued an “outperform” rating and a $87.00 target price for the company.

Ingevity Company Profile

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Ingevity Corporation manufactures and sells specialty chemicals and activated carbon materials in North America, the Asia Pacific, Europe, the Middle East, Africa, and South America. The company operates through two segments, Performance Materials and Performance Chemicals. The Performance Materials segment engineers, manufactures, and sells hardwood-based and chemically activated carbon products primarily for use in gasoline vapor emission control systems in cars, motorcycles, trucks, and boats.

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Institutional Ownership by Quarter for Ingevity (NYSE:NGVT)

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