Thrivent Financial for Lutherans Has $59.43 Million Position in Ingevity Co. (NYSE:NGVT)

Thrivent Financial for Lutherans raised its stake in Ingevity Co. (NYSE:NGVT) by 2.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,359,556 shares of the company’s stock after buying an additional 35,620 shares during the quarter. Thrivent Financial for Lutherans owned 3.74% of Ingevity worth $59,427,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NGVT. Wealth Enhancement Advisory Services LLC increased its stake in shares of Ingevity by 3.9% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 7,449 shares of the company’s stock worth $326,000 after acquiring an additional 279 shares during the last quarter. Louisiana State Employees Retirement System increased its position in Ingevity by 1.8% in the 2nd quarter. Louisiana State Employees Retirement System now owns 17,000 shares of the company’s stock worth $743,000 after purchasing an additional 300 shares during the last quarter. Texas Permanent School Fund Corp raised its stake in shares of Ingevity by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 29,393 shares of the company’s stock worth $1,402,000 after purchasing an additional 388 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Ingevity by 101.8% during the 2nd quarter. Blue Trust Inc. now owns 896 shares of the company’s stock valued at $43,000 after buying an additional 452 shares during the last quarter. Finally, Catalytic Wealth RIA LLC grew its stake in shares of Ingevity by 10.4% in the 1st quarter. Catalytic Wealth RIA LLC now owns 5,040 shares of the company’s stock valued at $240,000 after buying an additional 474 shares in the last quarter. Hedge funds and other institutional investors own 91.59% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on NGVT. CJS Securities raised shares of Ingevity from a “market perform” rating to an “outperform” rating and set a $58.00 price objective on the stock in a research report on Wednesday, August 7th. Oppenheimer reduced their price objective on shares of Ingevity from $58.00 to $50.00 and set an “outperform” rating for the company in a research note on Thursday, August 1st. Wells Fargo & Company lowered their target price on shares of Ingevity from $45.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Monday, August 5th. Finally, BMO Capital Markets reduced their price target on Ingevity from $45.00 to $42.00 and set a “market perform” rating for the company in a research report on Monday, August 5th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Ingevity currently has an average rating of “Hold” and a consensus price target of $51.33.

Ingevity Stock Performance

NYSE:NGVT opened at $40.04 on Friday. The firm has a market capitalization of $1.45 billion, a PE ratio of -12.87 and a beta of 1.62. Ingevity Co. has a 1 year low of $32.21 and a 1 year high of $56.29. The company has a current ratio of 1.92, a quick ratio of 1.07 and a debt-to-equity ratio of 4.92. The firm’s fifty day simple moving average is $39.40 and its 200 day simple moving average is $44.49.

Ingevity (NYSE:NGVT) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $1.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.05 by ($0.04). Ingevity had a negative net margin of 27.85% and a positive return on equity of 19.59%. The business had revenue of $390.60 million during the quarter, compared to analyst estimates of $407.58 million. During the same period in the prior year, the business posted $1.41 earnings per share. The company’s revenue for the quarter was down 18.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Ingevity Co. will post 2.63 EPS for the current year.

About Ingevity

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.