Ecovyst Inc. (NYSE:ECVT) Shares Acquired by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lifted its holdings in shares of Ecovyst Inc. (NYSE:ECVT) by 0.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,113,232 shares of the company’s stock after buying an additional 15,190 shares during the period. Allspring Global Investments Holdings LLC owned approximately 4.37% of Ecovyst worth $57,013,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in ECVT. Vanguard Group Inc. boosted its stake in shares of Ecovyst by 11.7% during the third quarter. Vanguard Group Inc. now owns 10,795,380 shares of the company’s stock worth $106,227,000 after buying an additional 1,128,473 shares during the period. Grizzlyrock Capital LLC acquired a new position in Ecovyst during the 4th quarter worth approximately $4,895,000. Confluence Investment Management LLC acquired a new position in Ecovyst during the 1st quarter worth approximately $3,581,000. Dimensional Fund Advisors LP raised its stake in shares of Ecovyst by 4.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,824,212 shares of the company’s stock worth $56,904,000 after buying an additional 266,615 shares in the last quarter. Finally, Eagle Asset Management Inc. lifted its holdings in shares of Ecovyst by 48.4% in the 4th quarter. Eagle Asset Management Inc. now owns 680,533 shares of the company’s stock valued at $6,649,000 after buying an additional 221,979 shares during the period. Institutional investors and hedge funds own 86.69% of the company’s stock.

Ecovyst Trading Up 2.1 %

Shares of ECVT opened at $8.88 on Wednesday. The company has a current ratio of 2.50, a quick ratio of 2.01 and a debt-to-equity ratio of 1.21. The firm’s 50-day moving average is $9.37 and its two-hundred day moving average is $9.59. Ecovyst Inc. has a twelve month low of $8.26 and a twelve month high of $12.35. The firm has a market capitalization of $1.04 billion, a P/E ratio of 14.10, a PEG ratio of 0.52 and a beta of 1.05.

Ecovyst (NYSE:ECVT) last issued its earnings results on Thursday, May 2nd. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.03). Ecovyst had a return on equity of 10.83% and a net margin of 10.70%. The company had revenue of $160.50 million for the quarter, compared to analyst estimates of $171.56 million. On average, research analysts predict that Ecovyst Inc. will post 0.74 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ECVT has been the topic of a number of recent analyst reports. BWS Financial reaffirmed a “buy” rating and set a $18.00 price objective on shares of Ecovyst in a report on Friday, May 3rd. Citigroup increased their price target on shares of Ecovyst from $11.50 to $13.00 and gave the company a “buy” rating in a report on Wednesday, April 10th.

Ecovyst Company 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.