Ingevity Corporation $NGVT Shares Sold by Bank of America Corp DE

Key Points

• Bank of America reduced its Ingevity stake by 10.3% in the first quarter, selling 35,406 shares and retaining 306,902 shares worth approximately $21.9 million. Institutional investors collectively own 91.59% of the company.
• Ingevity reported quarterly EPS of $1.74, beating the $1.33 consensus estimate, while revenue of $314.1 million also exceeded expectations. The company issued fiscal 2026 EPS guidance of $5.00–$5.45.
• NGVT shares opened at $74.01 after declining 2.4%; analysts maintain a consensus “Hold” rating with an average price target of $80.00, while insiders have sold $1.38 million of stock over the past 90 days.

Bank of America Corp DE lessened its holdings in shares of Ingevity Corporation (NYSE:NGVT - Free Report) by 10.3% in the first quarter, according to its most recent filing with the SEC. The firm owned 306,902 shares of the company's stock after selling 35,406 shares during the quarter. Bank of America Corp DE owned about 0.88% of Ingevity worth $21,861,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Millennium Management LLC lifted its stake 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 acquiring an additional 15,562 shares during the period. Royce & Associates LP boosted its position in shares of Ingevity by 7.7% during the 4th quarter. Royce & Associates LP now owns 1,111,158 shares of the company's stock valued at $65,758,000 after purchasing an additional 79,059 shares in the last quarter. Brown Advisory Inc. boosted its position in shares of Ingevity by 15.4% during the 4th quarter. Brown Advisory Inc. now owns 1,040,944 shares of the company's stock valued at $61,603,000 after purchasing an additional 138,859 shares in the last quarter. Simcoe Capital Management LLC lifted 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 valued at $60,420,000 after purchasing an additional 87,490 shares during the last quarter. Finally, Victory Capital Management Inc. grew its position in Ingevity by 7.4% in the fourth quarter. Victory Capital Management Inc. now owns 867,915 shares of the company's stock worth $51,363,000 after buying an additional 60,163 shares during the last quarter. Institutional investors own 91.59% of the company's stock.

Insider Transactions at Ingevity

In related news, CEO David H. Li sold 5,000 shares of the company's stock in a transaction on Monday, August 17th. The shares were sold at an average price of $75.83, for a total value of $379,150.00. Following the completion of the sale, the chief executive officer directly owned 120,636 shares in the company, valued at approximately $9,147,827.88. This represents a 3.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Terrance M. Dyer sold 496 shares of the stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $68.49, for a total transaction of $33,971.04. Following the transaction, the senior vice president directly owned 7,202 shares in the company, valued at $493,264.98. The trade was a 6.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 18,297 shares of company stock worth $1,381,452 in the last 90 days. 0.88% of the stock is owned by insiders.

Ingevity Trading Down 2.4%

Shares of NYSE NGVT opened at $74.01 on Wednesday. The firm has a market capitalization of $2.54 billion, a PE ratio of 50.34 and a beta of 1.16. Ingevity Corporation has a one year low of $45.85 and a one year high of $79.29. The company has a current ratio of 1.61, a quick ratio of 1.15 and a debt-to-equity ratio of 22.52. The business has a 50-day moving average price of $73.84 and a two-hundred day moving average price of $71.78.

Ingevity (NYSE:NGVT - Get Free Report) last released its earnings results on Wednesday, July 29th. The company reported $1.74 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.33 by $0.41. The company had revenue of $314.10 million during the quarter, compared to the consensus estimate of $312.20 million. Ingevity had a net margin of 4.65% and a return on equity of 284.70%. Ingevity has set its FY 2026 guidance at 5.000-5.450 EPS. As a group, analysts predict that Ingevity Corporation will post 5.4 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on NGVT shares. Weiss Ratings upgraded Ingevity from a "sell (d-)" rating to a "hold (c-)" rating in a research report on Friday, July 31st. Wall Street Zen lowered Ingevity from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 1st. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Ingevity currently has a consensus rating of "Hold" and an average target price of $80.00.

Ingevity Company 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.

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