Ingevity Corporation $NGVT Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans decreased its stake in shares of Ingevity Corporation (NYSE:NGVT) by 92.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 84,689 shares of the company’s stock after selling 1,050,711 shares during the period. Thrivent Financial for Lutherans owned approximately 0.23% of Ingevity worth $4,674,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Amalgamated Bank boosted its holdings in shares of Ingevity by 1.7% in the third quarter. Amalgamated Bank now owns 10,593 shares of the company’s stock valued at $585,000 after acquiring an additional 180 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Ingevity by 3.1% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 7,823 shares of the company’s stock worth $418,000 after purchasing an additional 238 shares in the last quarter. Savant Capital LLC lifted its position in Ingevity by 0.4% in the second quarter. Savant Capital LLC now owns 85,335 shares of the company’s stock worth $3,677,000 after purchasing an additional 313 shares during the period. Inspire Investing LLC boosted its stake in Ingevity by 4.1% during the 2nd quarter. Inspire Investing LLC now owns 9,038 shares of the company’s stock valued at $389,000 after purchasing an additional 358 shares in the last quarter. Finally, Range Financial Group LLC increased its position in shares of Ingevity by 1.2% during the 3rd quarter. Range Financial Group LLC now owns 31,139 shares of the company’s stock valued at $1,719,000 after purchasing an additional 376 shares during the period. 91.59% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently weighed in on NGVT shares. BMO Capital Markets upped their price objective on Ingevity from $64.00 to $70.00 and gave the company an “outperform” rating in a report on Wednesday, December 10th. Zacks Research raised shares of Ingevity to a “hold” rating in a report on Tuesday, December 16th. Wall Street Zen upgraded shares of Ingevity from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 3rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ingevity in a report on Thursday, January 22nd. Finally, Wells Fargo & Company increased their target price on shares of Ingevity from $60.00 to $65.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 28th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $67.50.

Ingevity Stock Performance

Shares of NGVT opened at $72.77 on Friday. The company has a 50-day moving average of $62.10 and a two-hundred day moving average of $56.38. The stock has a market cap of $2.62 billion, a price-to-earnings ratio of -39.98 and a beta of 1.34. The company has a debt-to-equity ratio of 8.39, a current ratio of 1.27 and a quick ratio of 0.80. Ingevity Corporation has a one year low of $28.49 and a one year high of $77.46.

Ingevity (NYSE:NGVT) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $1.52 EPS for the quarter, beating the consensus estimate of $1.14 by $0.38. Ingevity had a negative net margin of 5.14% and a positive return on equity of 103.69%. The business had revenue of $333.10 million during the quarter, compared to the consensus estimate of $360.43 million. During the same quarter in the prior year, the firm earned $1.10 EPS. The firm’s quarterly revenue was down 3.9% on a year-over-year basis. On average, equities research analysts expect that Ingevity Corporation will post 4.45 earnings per share for the current year.

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.