VIRGINIA RETIREMENT SYSTEMS ET Al decreased its stake in shares of Ecovyst Inc. (NYSE:ECVT – Free Report) by 47.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 117,400 shares of the company’s stock after selling 107,000 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Ecovyst were worth $1,154,000 as of its most recent SEC filing.
A number of other large investors also recently bought and sold shares of the business. The Manufacturers Life Insurance Company purchased a new position in Ecovyst during the second quarter worth $619,000. Bank of America Corp DE boosted its holdings in shares of Ecovyst by 62.1% in the 1st quarter. Bank of America Corp DE now owns 1,106,009 shares of the company’s stock valued at $14,223,000 after purchasing an additional 423,825 shares during the last quarter. Legal & General Group Plc purchased a new stake in Ecovyst during the second quarter valued at about $1,283,000. Tiptree Advisors LLC acquired a new stake in Ecovyst during the 2nd quarter worth approximately $4,980,000. Finally, Hsbc Holdings PLC acquired a new position in Ecovyst during the first quarter valued at approximately $4,024,000. Institutional investors own 86.69% of the company’s stock.
Insider Activity
In other Ecovyst news, Director Patti Humble bought 24,875 shares of the business’s stock in a transaction that occurred on Thursday, September 10th. The shares were bought at an average price of $10.05 per share, for a total transaction of $249,993.75. Following the transaction, the director directly owned 33,974 shares in the company, valued at approximately $341,438.70. This trade represents a 273.38% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.84% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
Several research firms recently commented on ECVT. Weiss Ratings reissued a “sell (d-)” rating on shares of Ecovyst in a research report on Thursday, August 27th. BWS Financial reiterated a “buy” rating and set a $16.00 price objective on shares of Ecovyst in a research note on Thursday, August 6th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $14.00 target price on shares of Ecovyst in a research report on Tuesday, September 1st. Finally, Wall Street Zen downgraded shares of Ecovyst from a “buy” rating to a “hold” rating in a research note on Sunday. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $14.62.
Read Our Latest Report on Ecovyst
Ecovyst Stock Performance
NYSE:ECVT opened at $9.99 on Thursday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.44 and a current ratio of 1.70. Ecovyst Inc. has a fifty-two week low of $7.84 and a fifty-two week high of $15.09. The company has a 50 day simple moving average of $10.15 and a two-hundred day simple moving average of $11.77. The company has a market capitalization of $1.09 billion, a PE ratio of -18.85, a P/E/G ratio of 0.45 and a beta of 1.08.
Ecovyst (NYSE:ECVT – Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.02. Ecovyst had a negative net margin of 7.05% and a positive return on equity of 13.83%. The company had revenue of $249.96 million for the quarter, compared to analyst estimates of $237.54 million. During the same period in the prior year, the firm posted $0.12 EPS. The company’s quarterly revenue was up 24.9% on a year-over-year basis. Research analysts anticipate that Ecovyst Inc. will post 0.60 earnings per share for the current year.
About Ecovyst
Ecovyst Inc (NYSE: ECVT) is a global provider of specialty catalysts and advanced materials used in industrial and environmental applications. The company develops, manufactures and supplies products that help customers improve process efficiency, increase yields and meet emissions and sustainability requirements.
Through its Catalysts Technologies business, Ecovyst provides catalysts and related services for petroleum refining, renewable fuels, petrochemicals and other chemical processes.
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