Ingevity Corporation $NGVT Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans reduced its position in shares of Ingevity Corporation (NYSE:NGVT) by 18.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 69,201 shares of the company’s stock after selling 15,488 shares during the period. Thrivent Financial for Lutherans owned 0.19% of Ingevity worth $4,095,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NGVT. Amalgamated Bank boosted its stake in Ingevity by 1.7% during the third quarter. Amalgamated Bank now owns 10,593 shares of the company’s stock worth $585,000 after buying an additional 180 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in Ingevity by 3.1% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 7,823 shares of the company’s stock worth $418,000 after buying an additional 238 shares during the period. EverSource Wealth Advisors LLC boosted its stake in Ingevity by 15.7% during the third quarter. EverSource Wealth Advisors LLC now owns 1,870 shares of the company’s stock worth $103,000 after buying an additional 254 shares during the period. Advisory Services Network LLC boosted its stake in Ingevity by 4.4% during the third quarter. Advisory Services Network LLC now owns 6,947 shares of the company’s stock worth $383,000 after buying an additional 293 shares during the period. Finally, Amundi boosted its stake in Ingevity by 4.8% during the third quarter. Amundi now owns 6,626 shares of the company’s stock worth $364,000 after buying an additional 302 shares during the period. 91.59% of the stock is currently owned by institutional investors and hedge funds.

Ingevity Trading Up 2.0%

NYSE NGVT opened at $66.48 on Friday. The firm has a 50 day simple moving average of $71.39 and a 200-day simple moving average of $65.15. The company has a debt-to-equity ratio of 27.83, a quick ratio of 0.92 and a current ratio of 1.42. Ingevity Corporation has a one year low of $39.74 and a one year high of $79.29. The firm has a market cap of $2.31 billion, a price-to-earnings ratio of -18.73 and a beta of 1.24.

Ingevity (NYSE:NGVT) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $1.15 EPS for the quarter, beating the consensus estimate 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 business had revenue of $258.00 million during the quarter, compared to analyst estimates of $254.73 million. During the same quarter last year, the firm posted $1.01 earnings per share. The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. Ingevity has set its FY 2026 guidance at 4.700-5.200 EPS. Equities research analysts anticipate that Ingevity Corporation will post 5.05 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. BMO Capital Markets reaffirmed an “outperform” rating and set a $83.00 target price on shares of Ingevity in a research note on Monday, March 2nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ingevity in a research note on Tuesday, April 21st. Wells Fargo & Company increased their target price 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 raised shares of Ingevity from a “hold” rating to a “strong-buy” rating in a research note on Saturday, May 9th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $82.00 target price on shares of Ingevity in a research note on Thursday, February 26th. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Ingevity presently has an average rating of “Hold” and a consensus price target 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.