Synovus Financial Corp Acquires 5,175 Shares of Ingevity Corp (NYSE:NGVT)

Synovus Financial Corp increased its holdings in shares of Ingevity Corp (NYSE:NGVT) by 3,980.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,305 shares of the company’s stock after acquiring an additional 5,175 shares during the period. Synovus Financial Corp’s holdings in Ingevity were worth $453,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of NGVT. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its stake in shares of Ingevity by 33.9% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 3,190 shares of the company’s stock worth $335,000 after buying an additional 808 shares in the last quarter. Copper Rock Capital Partners LLC lifted its stake in shares of Ingevity by 29.9% in the second quarter. Copper Rock Capital Partners LLC now owns 298,968 shares of the company’s stock worth $31,442,000 after buying an additional 68,896 shares in the last quarter. Braun Stacey Associates Inc. lifted its stake in shares of Ingevity by 10.4% in the second quarter. Braun Stacey Associates Inc. now owns 149,482 shares of the company’s stock worth $15,721,000 after buying an additional 14,085 shares in the last quarter. Ardevora Asset Management LLP bought a new position in shares of Ingevity in the third quarter worth approximately $26,657,000. Finally, RE Advisers Corp lifted its stake in shares of Ingevity by 24.1% in the second quarter. RE Advisers Corp now owns 49,654 shares of the company’s stock worth $5,222,000 after buying an additional 9,654 shares in the last quarter. 91.63% of the stock is currently owned by institutional investors and hedge funds.

Several research analysts have recently issued reports on the stock. ValuEngine upgraded shares of Ingevity from a “sell” rating to a “hold” rating in a research note on Saturday, October 19th. Stifel Nicolaus lowered their price objective on shares of Ingevity from $109.00 to $99.00 and set a “hold” rating on the stock in a research report on Wednesday, September 25th. Jefferies Financial Group downgraded shares of Ingevity from a “buy” rating to a “hold” rating and lowered their price objective for the company from $129.00 to $107.00 in a research report on Friday, July 19th. Loop Capital upgraded shares of Ingevity from a “hold” rating to a “buy” rating in a research report on Thursday, September 5th. Finally, SunTrust Banks lowered their price objective on shares of Ingevity to $120.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. They noted that the move was a valuation call. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $112.78.

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Ingevity stock traded down $1.35 during midday trading on Friday, reaching $92.70. 225,913 shares of the company traded hands, compared to its average volume of 317,559. The firm has a market capitalization of $3.93 billion, a price-to-earnings ratio of 22.45, a price-to-earnings-growth ratio of 1.90 and a beta of 2.09. The business has a 50 day moving average of $85.25 and a two-hundred day moving average of $90.98. Ingevity Corp has a 12 month low of $72.59 and a 12 month high of $120.41. The company has a debt-to-equity ratio of 3.01, a current ratio of 2.39 and a quick ratio of 1.38.

Ingevity (NYSE:NGVT) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $1.46 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.42 by $0.04. The company had revenue of $359.90 million for the quarter, compared to the consensus estimate of $365.44 million. Ingevity had a net margin of 14.31% and a return on equity of 53.69%. The firm’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.16 earnings per share. As a group, equities analysts forecast that Ingevity Corp will post 4.79 EPS for the current year.

About Ingevity

Ingevity Corporation manufactures and sells specialty chemicals and carbon materials in the United States and internationally. 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, trucks, motorcycles, and boats.

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Institutional Ownership by Quarter for Ingevity (NYSE:NGVT)

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