Principal Securities Inc. Invests $67,000 in Ingevity Co. (NYSE:NGVT)

Principal Securities Inc. acquired a new position in shares of Ingevity Co. (NYSE:NGVT) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 1,429 shares of the company’s stock, valued at approximately $67,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC purchased a new position in shares of Ingevity during the 4th quarter valued at approximately $41,000. Mackenzie Financial Corp purchased a new position in shares of Ingevity during the 4th quarter valued at approximately $208,000. Pathstone Family Office LLC lifted its position in shares of Ingevity by 22.1% during the 3rd quarter. Pathstone Family Office LLC now owns 4,430 shares of the company’s stock valued at $211,000 after buying an additional 803 shares in the last quarter. Synovus Financial Corp lifted its position in shares of Ingevity by 42.7% during the 3rd quarter. Synovus Financial Corp now owns 7,349 shares of the company’s stock valued at $350,000 after buying an additional 2,198 shares in the last quarter. Finally, Exchange Traded Concepts LLC lifted its position in shares of Ingevity by 15.4% during the 4th quarter. Exchange Traded Concepts LLC now owns 8,554 shares of the company’s stock valued at $404,000 after buying an additional 1,143 shares in the last quarter. Institutional investors and hedge funds own 91.59% of the company’s stock.

Ingevity Stock Down 4.0 %

NYSE NGVT opened at $48.10 on Friday. Ingevity Co. has a 52 week low of $36.66 and a 52 week high of $66.18. The company has a quick ratio of 0.98, a current ratio of 1.90 and a debt-to-equity ratio of 2.48. The business’s fifty day simple moving average is $49.00 and its 200-day simple moving average is $45.38. The firm has a market cap of $1.75 billion, a PE ratio of -15.47 and a beta of 1.79.

Ingevity (NYSE:NGVT) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.37 by $0.15. Ingevity had a positive return on equity of 18.65% and a negative net margin of 6.84%. The business had revenue of $340.10 million for the quarter, compared to analyst estimates of $319.15 million. During the same quarter in the previous year, the firm earned $1.09 EPS. The company’s quarterly revenue was down 13.4% compared to the same quarter last year. As a group, equities analysts anticipate that Ingevity Co. will post 3.78 earnings per share for the current year.

Wall Street Analyst Weigh In

NGVT has been the topic of a number of recent analyst reports. Wells Fargo & Company increased their target price on Ingevity from $43.00 to $50.00 and gave the company an “equal weight” rating in a research report on Friday, February 23rd. Oppenheimer raised their price objective on Ingevity from $50.00 to $58.00 and gave the company an “outperform” rating in a report on Thursday, May 2nd. Jefferies Financial Group upgraded Ingevity from a “hold” rating to a “buy” rating and raised their price objective for the company from $52.00 to $62.00 in a report on Monday, April 22nd. BMO Capital Markets raised their price objective on Ingevity from $50.00 to $55.00 and gave the company a “market perform” rating in a report on Wednesday, May 8th. Finally, Loop Capital raised their price objective on Ingevity from $49.00 to $56.00 and gave the company a “hold” rating in a report on Tuesday, May 7th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $55.00.

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.