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

Thrivent Financial for Lutherans trimmed its holdings in shares of Ingevity Co. (NYSE:NGVT - Free Report) by 9.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,248,447 shares of the company's stock after selling 134,606 shares during the period. Thrivent Financial for Lutherans owned approximately 3.43% of Ingevity worth $50,874,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. Vestcor Inc bought a new position in Ingevity during the third quarter worth $796,000. Geode Capital Management LLC raised its holdings in shares of Ingevity by 4.3% during the third quarter. Geode Capital Management LLC now owns 815,661 shares of the company's stock valued at $31,817,000 after purchasing an additional 33,973 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Ingevity by 24.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 117,581 shares of the company's stock worth $4,586,000 after purchasing an additional 23,460 shares in the last quarter. Hennion & Walsh Asset Management Inc. acquired a new stake in shares of Ingevity in the 4th quarter valued at about $239,000. Finally, Proficio Capital Partners LLC bought a new stake in Ingevity in the 4th quarter valued at about $863,000. Institutional investors and hedge funds own 91.59% of the company's stock.

Wall Street Analyst Weigh In

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

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Ingevity Stock Up 2.1 %

NGVT traded up $0.88 during midday trading on Monday, reaching $43.26. 151,156 shares of the company were exchanged, compared to its average volume of 255,951. Ingevity Co. has a one year low of $30.90 and a one year high of $56.30. The company has a debt-to-equity ratio of 6.86, a quick ratio of 1.04 and a current ratio of 1.87. The company's fifty day moving average price is $45.28 and its 200 day moving average price is $42.34. The company has a market cap of $1.57 billion, a price-to-earnings ratio of -3.65 and a beta of 1.53.

Ingevity (NYSE:NGVT - Get Free Report) last released its quarterly earnings results on Tuesday, February 18th. The company reported $0.95 EPS for the quarter, beating analysts' consensus estimates of $0.29 by $0.66. The business had revenue of $298.80 million during the quarter, compared to analyst estimates of $297.40 million. Ingevity had a positive return on equity of 41.44% and a negative net margin of 30.60%. As a group, 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.