Principal Financial Group Inc. boosted its position in shares of Ingevity Co. (NYSE:NGVT) by 11.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 180,262 shares of the company’s stock after buying an additional 17,795 shares during the quarter. Principal Financial Group Inc. owned approximately 0.45% of Ingevity worth $13,615,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. RWM Asset Management LLC acquired a new position in Ingevity during the 4th quarter worth $50,000. Denali Advisors LLC acquired a new position in shares of Ingevity in the 1st quarter valued at $113,000. Kovack Advisors Inc. acquired a new position in shares of Ingevity in the 1st quarter valued at $200,000. Moody National Bank Trust Division acquired a new position in shares of Ingevity in the 4th quarter valued at $220,000. Finally, CIBC Asset Management Inc acquired a new position in shares of Ingevity in the 4th quarter valued at $225,000. 90.60% of the stock is currently owned by hedge funds and other institutional investors.
NGVT has been the topic of a number of analyst reports. TheStreet raised Ingevity from a “c+” rating to a “b” rating in a research note on Thursday, May 27th. Loop Capital increased their price target on Ingevity from $71.00 to $85.00 and gave the company a “hold” rating in a research note on Thursday, May 27th. Oppenheimer increased their price target on Ingevity from $75.00 to $85.00 and gave the company an “outperform” rating in a research note on Thursday, February 11th. Finally, BMO Capital Markets increased their price target on Ingevity from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Tuesday, May 4th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $76.50.
Ingevity (NYSE:NGVT) last issued its quarterly earnings data on Wednesday, April 28th. The company reported $1.27 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.03 by $0.24. The business had revenue of $320.30 million for the quarter, compared to the consensus estimate of $293.05 million. Ingevity had a return on equity of 33.94% and a net margin of 15.19%. The firm’s revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.12 EPS. Equities research analysts predict that Ingevity Co. will post 5.32 EPS for the current fiscal year.
In other Ingevity news, EVP Stuart Edward Jr. Woodcock sold 5,178 shares of the stock in a transaction dated Friday, May 7th. The stock was sold at an average price of $85.76, for a total transaction of $444,065.28. Following the completion of the transaction, the executive vice president now owns 30,516 shares in the company, valued at approximately $2,617,052.16. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.56% of the stock is currently owned by corporate insiders.
Ingevity Corporation manufactures and sells specialty chemicals and activated carbon materials in North America, the Asia-Pacific, Europe, the Middle East, Africa, and South America. 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, motorcycles, trucks, and boats.
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