Principal Financial Group Inc. Increases Position in Ingevity Corporation $NGVT

Principal Financial Group Inc. lifted its holdings in shares of Ingevity Corporation (NYSE:NGVT) by 4.0% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 678,037 shares of the company’s stock after buying an additional 25,800 shares during the quarter. Principal Financial Group Inc.’s holdings in Ingevity were worth $48,297,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Fifth Third Bancorp lifted its position in Ingevity by 11,117.1% during the 1st quarter. Fifth Third Bancorp now owns 24,902 shares of the company’s stock worth $1,774,000 after acquiring an additional 24,680 shares during the period. Louisiana State Employees Retirement System acquired a new position in shares of Ingevity in the first quarter valued at approximately $1,133,000. Contravisory Investment Management Inc. purchased a new stake in shares of Ingevity during the first quarter worth approximately $278,000. RFG Advisory LLC acquired a new stake in shares of Ingevity during the first quarter worth $279,000. Finally, SG Americas Securities LLC grew its position in Ingevity by 115.8% in the 1st quarter. SG Americas Securities LLC now owns 18,595 shares of the company’s stock valued at $1,325,000 after buying an additional 9,980 shares during the last quarter. Institutional investors and hedge funds own 91.59% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on NGVT. Wall Street Zen raised shares of Ingevity from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, July 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ingevity in a research note on Tuesday, April 21st. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $80.00.

Ingevity Trading Up 1.7%

Shares of NGVT opened at $76.47 on Friday. Ingevity Corporation has a twelve month low of $39.74 and a twelve month high of $79.29. The company has a current ratio of 1.42, a quick ratio of 0.92 and a debt-to-equity ratio of 27.83. The firm has a market capitalization of $2.66 billion, a P/E ratio of -21.54 and a beta of 1.16. The firm’s 50-day moving average is $70.78 and its two-hundred day moving average is $70.10.

Ingevity (NYSE:NGVT) last released its quarterly earnings results on Wednesday, May 6th. The company reported $1.15 earnings per share (EPS) for the quarter, topping 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 business had revenue of $258.00 million during the quarter, compared to the consensus estimate of $254.73 million. During the same quarter in the previous year, the company posted $1.01 EPS. The business’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. On average, research analysts predict that Ingevity Corporation will post 5.05 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP Terrance M. Dyer sold 496 shares of Ingevity stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $68.49, for a total transaction of $33,971.04. Following the completion of the sale, 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.88% of the stock is owned by corporate insiders.

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.