Thrivent Financial for Lutherans Reduces Holdings in Ingevity Co. (NYSE:NGVT)

Thrivent Financial for Lutherans lowered its stake in shares of Ingevity Co. (NYSE:NGVT) by 9.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,248,447 shares of the company’s stock after selling 134,606 shares during the quarter. Thrivent Financial for Lutherans owned about 3.43% of Ingevity worth $50,874,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. First Horizon Advisors Inc. grew its holdings in shares of Ingevity by 45.9% during the third quarter. First Horizon Advisors Inc. now owns 862 shares of the company’s stock worth $34,000 after buying an additional 271 shares during the last quarter. KBC Group NV grew its holdings in shares of Ingevity by 50.8% during the third quarter. KBC Group NV now owns 1,574 shares of the company’s stock worth $61,000 after buying an additional 530 shares during the last quarter. Empowered Funds LLC purchased a new position in shares of Ingevity during the fourth quarter worth about $187,000. Hennion & Walsh Asset Management Inc. purchased a new position in shares of Ingevity during the fourth quarter worth about $239,000. Finally, XTX Topco Ltd purchased a new position in shares of Ingevity during the third quarter worth about $260,000. Hedge funds and other institutional investors own 91.59% of the company’s stock.

Ingevity Price Performance

Shares of NYSE:NGVT opened at $44.25 on Thursday. The company has a quick ratio of 1.04, a current ratio of 1.87 and a debt-to-equity ratio of 6.86. The company has a market cap of $1.61 billion, a P/E ratio of -3.74 and a beta of 1.53. Ingevity Co. has a 52 week low of $30.90 and a 52 week high of $56.30. The company has a 50-day moving average price of $45.09 and a 200 day moving average price of $42.25.

Ingevity (NYSE:NGVT) last posted its quarterly earnings results on Tuesday, February 18th. The company reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.66. Ingevity had a negative net margin of 30.60% and a positive return on equity of 41.44%. The company had revenue of $298.80 million during the quarter, compared to the consensus estimate of $297.40 million. Research analysts predict that Ingevity Co. will post 4.45 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. BMO Capital Markets raised Ingevity from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $62.00 to $65.00 in a report on Wednesday, February 26th. StockNews.com upgraded shares of Ingevity from a “hold” rating to a “buy” rating in a research report on Thursday, February 20th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $55.17.

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.