Principal Financial Group Inc. Raises Stock Position in Ingevity Corporation $NGVT

Principal Financial Group Inc. grew its holdings in shares of Ingevity Corporation (NYSE:NGVT) by 269.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 652,237 shares of the company’s stock after purchasing an additional 475,907 shares during the period. Principal Financial Group Inc.’s holdings in Ingevity were worth $38,599,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of NGVT. Oakworth Capital Inc. purchased a new stake in Ingevity during the third quarter worth about $28,000. Geneos Wealth Management Inc. increased its stake in Ingevity by 85.8% during the second quarter. Geneos Wealth Management Inc. now owns 838 shares of the company’s stock worth $36,000 after purchasing an additional 387 shares during the period. Headlands Technologies LLC purchased a new stake in Ingevity during the second quarter worth about $46,000. CIBC Private Wealth Group LLC purchased a new stake in Ingevity during the third quarter worth about $62,000. Finally, EverSource Wealth Advisors LLC increased its stake in Ingevity by 51.6% during the second quarter. EverSource Wealth Advisors LLC now owns 1,616 shares of the company’s stock worth $70,000 after purchasing an additional 550 shares during the period. 91.59% of the stock is currently owned by hedge funds and other institutional investors.

Ingevity Stock Performance

Shares of NGVT opened at $75.73 on Friday. The company has a quick ratio of 0.79, a current ratio of 1.42 and a debt-to-equity ratio of 27.83. Ingevity Corporation has a 52-week low of $39.74 and a 52-week high of $79.29. The stock has a 50 day moving average price of $71.20 and a 200 day moving average price of $64.15. The company has a market capitalization of $2.67 billion, a price-to-earnings ratio of -21.33 and a beta of 1.24.

Ingevity (NYSE:NGVT) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $254.73 million. During the same quarter in the previous year, the business earned $1.01 earnings per share. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. Ingevity has set its FY 2026 guidance at 4.700-5.200 EPS. Research analysts predict that Ingevity Corporation will post 5.05 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on NGVT. Wells Fargo & Company boosted their price objective on Ingevity from $65.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Friday, February 27th. BMO Capital Markets reissued an “outperform” rating and set a $83.00 price objective on shares of Ingevity in a research report on Monday, March 2nd. Wall Street Zen raised Ingevity from a “hold” rating to a “strong-buy” rating in a research report on Saturday. Weiss Ratings reissued a “sell (d-)” rating on shares of Ingevity in a research report on Tuesday, April 21st. Finally, Jefferies Financial Group reissued a “buy” rating and set a $82.00 price objective on shares of Ingevity in a research report on Thursday, February 26th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Ingevity currently has a consensus rating of “Hold” and a consensus target price of $80.00.

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.