Ingevity Corporation $NGVT Shares Bought by Principal Financial Group Inc.

Key Points

• Principal Financial Group increased its Ingevity stake by 4.0% in Q1, buying 25,800 more shares and ending with 678,037 shares valued at about $48.3 million.
• Institutional ownership remains very high, with several firms making large additions, and 91.59% of Ingevity stock is held by hedge funds and other institutional investors.
• Ingevity topped expectations in its latest earnings report, posting $1.15 EPS versus $0.84 expected and revenue of $258 million, while analysts currently rate the stock a Hold with an average target price of $80.

Principal Financial Group Inc. grew its position in Ingevity Corporation (NYSE:NGVT - Free Report) by 4.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 678,037 shares of the company's stock after purchasing an additional 25,800 shares during the quarter. Principal Financial Group Inc. owned approximately 1.92% of Ingevity worth $48,297,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Ingevity by 311.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 600,380 shares of the company's stock valued at $23,769,000 after buying an additional 454,579 shares during the last quarter. Simcoe Capital Management LLC boosted its position in shares of Ingevity by 188.8% during the 2nd quarter. Simcoe Capital Management LLC now owns 624,935 shares of the company's stock worth $26,928,000 after acquiring an additional 408,508 shares in the last quarter. Boston Partners boosted its position in shares of Ingevity by 141.6% during the 4th quarter. Boston Partners now owns 620,360 shares of the company's stock worth $36,719,000 after acquiring an additional 363,584 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Ingevity by 137.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 424,038 shares of the company's stock valued at $25,095,000 after acquiring an additional 245,620 shares during the last quarter. Finally, Pacer Advisors Inc. purchased a new position in shares of Ingevity in the 4th quarter valued at about $9,660,000. 91.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Ingevity Stock Performance

Shares of NGVT stock opened at $76.47 on Friday. The stock's 50-day moving average is $70.78 and its two-hundred day moving average is $70.10. The company has a debt-to-equity ratio of 27.83, a quick ratio of 0.92 and a current ratio of 1.42. Ingevity Corporation has a 1 year low of $39.74 and a 1 year high of $79.29. The firm has a market cap of $2.66 billion, a price-to-earnings ratio of -21.54 and a beta of 1.16.

Ingevity (NYSE:NGVT - Get Free Report) last announced its earnings results on Wednesday, May 6th. The company reported $1.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.84 by $0.31. The firm had revenue of $258.00 million during the quarter, compared to analysts' expectations of $254.73 million. Ingevity had a positive return on equity of 207.82% and a negative net margin of 10.55%.The business's revenue was up 4.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.01 EPS. Ingevity has set its FY 2026 guidance at 4.700-5.200 EPS. Analysts predict that Ingevity Corporation will post 5.05 earnings per share for the current year.

Insiders Place Their Bets

In other news, SVP Terrance M. Dyer sold 496 shares of the stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $68.49, for a total value of $33,971.04. Following the completion of the sale, the senior vice president directly owned 7,202 shares of the company's stock, valued at approximately $493,264.98. This represents a 6.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.88% of the company's stock.

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.

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