Thrivent Financial for Lutherans Decreases Stake in Ingevity Corporation $NGVT

Thrivent Financial for Lutherans lowered its position in Ingevity Corporation (NYSE:NGVT) by 18.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 69,201 shares of the company’s stock after selling 15,488 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Ingevity were worth $4,095,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. Segall Bryant & Hamill LLC lifted its stake in Ingevity by 1.2% in the third quarter. Segall Bryant & Hamill LLC now owns 1,298,661 shares of the company’s stock worth $71,673,000 after acquiring an additional 15,451 shares during the last quarter. Millennium Management LLC lifted its stake in Ingevity by 1.3% in the third quarter. Millennium Management LLC now owns 1,189,524 shares of the company’s stock worth $65,650,000 after acquiring an additional 15,562 shares during the last quarter. Simcoe Capital Management LLC lifted its stake in Ingevity by 49.4% in the third quarter. Simcoe Capital Management LLC now owns 933,455 shares of the company’s stock worth $51,517,000 after acquiring an additional 308,520 shares during the last quarter. Maple Rock Capital Partners Inc. lifted its stake in Ingevity by 3.2% in the third quarter. Maple Rock Capital Partners Inc. now owns 674,716 shares of the company’s stock worth $37,238,000 after acquiring an additional 21,200 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in Ingevity by 269.9% in the fourth quarter. Principal Financial Group Inc. now owns 652,237 shares of the company’s stock worth $38,599,000 after acquiring an additional 475,907 shares during the last quarter. Hedge funds and other institutional investors own 91.59% of the company’s stock.

Ingevity Stock Up 2.0%

NGVT stock opened at $66.48 on Friday. The company has a current ratio of 1.42, a quick ratio of 0.92 and a debt-to-equity ratio of 27.83. Ingevity Corporation has a twelve month low of $39.74 and a twelve month high of $79.29. The company’s 50 day moving average is $71.39 and its two-hundred day moving average is $65.15. The stock has a market cap of $2.31 billion, a P/E ratio of -18.73 and a beta of 1.24.

Ingevity (NYSE:NGVT) last released its quarterly earnings data on Wednesday, May 6th. The company reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.31. Ingevity had a negative net margin of 10.55% and a positive return on equity of 207.82%. The company had revenue of $258.00 million for the quarter, compared to analysts’ expectations of $254.73 million. During the same quarter last year, the company earned $1.01 earnings per share. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. Ingevity has set its FY 2026 guidance at 4.700-5.200 EPS. Research analysts expect that Ingevity Corporation will post 5.05 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Wells Fargo & Company lifted their price target on shares of Ingevity from $65.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Friday, February 27th. Wall Street Zen upgraded shares of Ingevity from a “hold” rating to a “strong-buy” rating in a research note on Saturday, May 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ingevity in a research note on Tuesday, April 21st. BMO Capital Markets reiterated an “outperform” rating and issued a $83.00 price target on shares of Ingevity in a research note on Monday, March 2nd. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $82.00 price target on shares of Ingevity in a research note on Thursday, February 26th. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $80.00.

Ingevity 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.