Ingevity Co. (NYSE:NGVT) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans trimmed its stake in shares of Ingevity Co. (NYSE:NGVT) by 9.7% in the fourth quarter, Holdings Channel.com reports. The fund owned 1,248,447 shares of the company’s stock after selling 134,606 shares during the period. Thrivent Financial for Lutherans’ holdings in Ingevity were worth $50,874,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of NGVT. KBC Group NV raised its position in shares of Ingevity by 50.8% during the 3rd quarter. KBC Group NV now owns 1,574 shares of the company’s stock worth $61,000 after purchasing an additional 530 shares during the last quarter. Natixis Advisors LLC raised its position in shares of Ingevity by 6.7% during the 3rd quarter. Natixis Advisors LLC now owns 27,908 shares of the company’s stock worth $1,088,000 after purchasing an additional 1,751 shares during the last quarter. Segall Bryant & Hamill LLC raised its position in shares of Ingevity by 33.5% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 1,185,415 shares of the company’s stock worth $46,231,000 after purchasing an additional 297,135 shares during the last quarter. First Horizon Advisors Inc. raised its position in shares of Ingevity by 45.9% during the 3rd quarter. First Horizon Advisors Inc. now owns 862 shares of the company’s stock worth $34,000 after purchasing an additional 271 shares during the last quarter. Finally, Intech Investment Management LLC acquired a new position in shares of Ingevity during the 3rd quarter worth approximately $371,000. 91.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NGVT has been the subject of several research reports. BMO Capital Markets upgraded Ingevity from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $62.00 to $65.00 in a research report on Wednesday, February 26th. StockNews.com upgraded Ingevity from a “hold” rating to a “buy” rating in a research report on Thursday, February 20th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $55.17.

Ingevity Stock Up 0.8 %

NGVT stock opened at $44.25 on Thursday. The stock has a market capitalization of $1.61 billion, a P/E ratio of -3.74 and a beta of 1.53. The company has a debt-to-equity ratio of 6.86, a quick ratio of 1.04 and a current ratio of 1.87. Ingevity Co. has a one year low of $30.90 and a one year high of $56.30. The company has a 50 day moving average price of $45.09 and a two-hundred day moving average price of $42.25.

Ingevity (NYSE:NGVT) last announced its quarterly earnings data on Tuesday, February 18th. The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts’ expectations of $297.40 million. As a group, sell-side analysts expect that Ingevity Co. will post 4.45 EPS for the current year.

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.