Principal Financial Group Inc. Has $6.72 Million Stock Position in Ingevity Co. (NYSE:NGVT)

Principal Financial Group Inc. lessened its holdings in shares of Ingevity Co. (NYSE:NGVT) by 4.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 172,193 shares of the company’s stock after selling 7,553 shares during the period. Principal Financial Group Inc.’s holdings in Ingevity were worth $6,716,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Vestcor Inc bought a new position in Ingevity during the 3rd quarter worth $796,000. Geode Capital Management LLC lifted its stake in shares of Ingevity by 4.3% in the third quarter. Geode Capital Management LLC now owns 815,661 shares of the company’s stock worth $31,817,000 after acquiring an additional 33,973 shares during the period. American Century Companies Inc. increased its position in Ingevity by 7.6% during the 2nd quarter. American Century Companies Inc. now owns 765,588 shares of the company’s stock valued at $33,464,000 after purchasing an additional 53,839 shares during the period. Wakefield Asset Management LLLP acquired a new position in shares of Ingevity in the 2nd quarter worth approximately $748,000. Finally, Barclays PLC boosted its stake in shares of Ingevity by 245.3% in the 3rd quarter. Barclays PLC now owns 66,761 shares of the company’s stock valued at $2,603,000 after purchasing an additional 47,429 shares during the last quarter. Institutional investors own 91.59% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, BMO Capital Markets increased their price target on Ingevity from $40.00 to $47.00 and gave the stock a “market perform” rating in a report on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $52.17.

Ingevity Trading Up 1.5 %

NGVT opened at $40.75 on Thursday. The company has a market cap of $1.48 billion, a P/E ratio of -2.62 and a beta of 1.62. The company has a fifty day moving average price of $44.10 and a two-hundred day moving average price of $41.03. The company has a current ratio of 1.76, a quick ratio of 1.04 and a debt-to-equity ratio of 6.52. Ingevity Co. has a 1-year low of $30.90 and a 1-year high of $56.29.

Ingevity (NYSE:NGVT) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.50. Ingevity had a positive return on equity of 24.46% and a negative net margin of 38.11%. The business had revenue of $376.90 million for the quarter, compared to the consensus estimate of $376.95 million. During the same period in the prior year, the business earned $1.21 EPS. The firm’s revenue for the quarter was down 15.5% on a year-over-year basis. Analysts predict that Ingevity Co. will post 2.55 EPS for the current fiscal year.

Ingevity Company Profile

Ingevity Corporation manufactures and sells activated carbon products, derivative specialty chemicals, and engineered polymers in North America, the Asia Pacific, Europe, the Middle East, Africa, and South America. It operates through three segments: Performance Materials, Performance Chemicals, and Advanced Polymer Technologies.