Thrivent Financial for Lutherans Has $4.67 Million Stock Position in Ingevity Corporation $NGVT

Thrivent Financial for Lutherans reduced its holdings in Ingevity Corporation (NYSE:NGVT) by 92.5% in the 3rd quarter, Holdings Channel reports. The fund owned 84,689 shares of the company’s stock after selling 1,050,711 shares during the period. Thrivent Financial for Lutherans’ holdings in Ingevity were worth $4,674,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of NGVT. Geneos Wealth Management Inc. increased its holdings in shares of Ingevity by 85.8% in the 2nd quarter. Geneos Wealth Management Inc. now owns 838 shares of the company’s stock valued at $36,000 after purchasing an additional 387 shares during the period. Headlands Technologies LLC purchased a new position in Ingevity during the second quarter valued at approximately $46,000. Elevation Point Wealth Partners LLC acquired a new position in Ingevity in the 2nd quarter valued at approximately $60,000. EverSource Wealth Advisors LLC increased its stake in Ingevity by 51.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,616 shares of the company’s stock valued at $70,000 after buying an additional 550 shares during the period. Finally, State of Wyoming purchased a new stake in Ingevity in the 2nd quarter worth approximately $145,000. Hedge funds and other institutional investors own 91.59% of the company’s stock.

Ingevity Stock Performance

NGVT opened at $72.77 on Friday. The company has a debt-to-equity ratio of 8.39, a quick ratio of 0.80 and a current ratio of 1.27. The company has a market cap of $2.62 billion, a PE ratio of -39.98 and a beta of 1.34. The stock has a 50-day moving average of $62.10 and a 200-day moving average of $56.38. Ingevity Corporation has a 52-week low of $28.49 and a 52-week high of $77.46.

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

Analysts Set New Price Targets

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

Ingevity Company Profile

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.