Ecovyst Inc. (NYSE:ECVT) Stake Lifted by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC raised its stake in Ecovyst Inc. (NYSE:ECVT) by 0.3% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 5,113,232 shares of the company’s stock after buying an additional 15,190 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Ecovyst were worth $57,013,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of ECVT. Vanguard Group Inc. increased its holdings in shares of Ecovyst by 11.7% in the 3rd quarter. Vanguard Group Inc. now owns 10,795,380 shares of the company’s stock worth $106,227,000 after acquiring an additional 1,128,473 shares during the period. Eagle Asset Management Inc. increased its stake in shares of Ecovyst by 48.4% in the fourth quarter. Eagle Asset Management Inc. now owns 680,533 shares of the company’s stock valued at $6,649,000 after purchasing an additional 221,979 shares during the period. Paragon Associates & Paragon Associates II Joint Venture raised its holdings in shares of Ecovyst by 200.0% during the fourth quarter. Paragon Associates & Paragon Associates II Joint Venture now owns 300,000 shares of the company’s stock valued at $2,931,000 after buying an additional 200,000 shares during the last quarter. Confluence Investment Management LLC acquired a new position in shares of Ecovyst during the first quarter worth approximately $3,581,000. Finally, Brigade Capital Management LP grew its holdings in Ecovyst by 15.6% in the 4th quarter. Brigade Capital Management LP now owns 917,000 shares of the company’s stock worth $8,959,000 after buying an additional 124,000 shares in the last quarter. Institutional investors and hedge funds own 86.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ECVT. BWS Financial reaffirmed a “buy” rating and set a $18.00 target price on shares of Ecovyst in a research note on Friday, May 3rd. Citigroup lifted their price objective on shares of Ecovyst from $11.50 to $13.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th.

Ecovyst Stock Performance

ECVT opened at $8.88 on Wednesday. The business has a 50 day moving average price of $9.37 and a two-hundred day moving average price of $9.59. The company has a debt-to-equity ratio of 1.21, a current ratio of 2.50 and a quick ratio of 2.01. The company has a market capitalization of $1.04 billion, a price-to-earnings ratio of 14.10, a price-to-earnings-growth ratio of 0.52 and a beta of 1.05. Ecovyst Inc. has a 1-year low of $8.26 and a 1-year high of $12.35.

Ecovyst (NYSE:ECVT) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.03). Ecovyst had a return on equity of 10.83% and a net margin of 10.70%. The firm had revenue of $160.50 million during the quarter, compared to the consensus estimate of $171.56 million. Research analysts predict that Ecovyst Inc. will post 0.74 EPS for the current fiscal year.

Ecovyst Profile

Ecovyst Inc offers specialty catalysts and services in the United States and internationally. The company operates in two segments, Ecoservices and Advanced Materials & Catalysts. The Ecoservices segment provides sulfuric acid recycling services and end-to-end logistics for production of alkylate for refineries; and virgin sulfuric acid for mining, water treatment, and industrial applications.