Oppenheimer Asset Management Inc. Trims Stake in Ecovyst Inc. (NYSE:ECVT)

Oppenheimer Asset Management Inc. lowered its position in Ecovyst Inc. (NYSE:ECVT) by 4.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 50,452 shares of the company’s stock after selling 2,153 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Ecovyst were worth $453,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Eagle Asset Management Inc. boosted its holdings in Ecovyst by 48.4% during the 4th quarter. Eagle Asset Management Inc. now owns 680,533 shares of the company’s stock valued at $6,649,000 after acquiring an additional 221,979 shares during the period. Confluence Investment Management LLC purchased a new stake in shares of Ecovyst during the first quarter valued at $3,581,000. Paragon Associates & Paragon Associates II Joint Venture grew its holdings in shares of Ecovyst by 200.0% in the fourth quarter. Paragon Associates & Paragon Associates II Joint Venture now owns 300,000 shares of the company’s stock worth $2,931,000 after purchasing an additional 200,000 shares during the last quarter. Sei Investments Co. increased its stake in Ecovyst by 58.3% in the 1st quarter. Sei Investments Co. now owns 521,176 shares of the company’s stock worth $5,811,000 after buying an additional 191,839 shares during the period. Finally, Brigade Capital Management LP lifted its holdings in Ecovyst by 15.6% during the 4th quarter. Brigade Capital Management LP now owns 917,000 shares of the company’s stock valued at $8,959,000 after buying an additional 124,000 shares in the last quarter. Hedge funds and other institutional investors own 86.69% of the company’s stock.

Wall Street Analyst Weigh In

ECVT has been the topic of a number of research reports. KeyCorp reduced their target price on shares of Ecovyst from $13.00 to $10.00 and set an “overweight” rating on the stock in a research report on Monday, August 5th. BWS Financial decreased their target price on Ecovyst from $18.00 to $12.00 and set a “buy” rating for the company in a research report on Monday, August 5th. Finally, Citigroup dropped their price target on Ecovyst from $13.00 to $11.00 and set a “buy” rating on the stock in a research report on Friday, July 12th.

Ecovyst Stock Performance

Shares of ECVT stock opened at $6.50 on Friday. The company’s 50 day moving average is $7.52 and its 200 day moving average is $8.88. The company has a quick ratio of 2.18, a current ratio of 2.72 and a debt-to-equity ratio of 1.19. The firm has a market cap of $757.06 million, a price-to-earnings ratio of 10.32, a PEG ratio of 1.17 and a beta of 1.02. Ecovyst Inc. has a 52-week low of $6.02 and a 52-week high of $11.35.

Ecovyst (NYSE:ECVT) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.01). Ecovyst had a return on equity of 7.88% and a net margin of 8.14%. The company had revenue of $182.80 million during the quarter, compared to the consensus estimate of $189.79 million. During the same period in the previous year, the firm posted $0.26 earnings per share. The company’s revenue was down .7% on a year-over-year basis. On average, sell-side analysts anticipate that Ecovyst Inc. will post 0.46 EPS for the current fiscal year.

Insider Buying and Selling at Ecovyst

In other news, insider Paul Whittleston acquired 7,800 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were purchased at an average price of $6.50 per share, with a total value of $50,700.00. Following the transaction, the insider now directly owns 57,542 shares in the company, valued at $374,023. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Ecovyst news, insider Paul Whittleston acquired 7,800 shares of the stock in a transaction dated Wednesday, August 7th. The stock was purchased at an average price of $6.50 per share, with a total value of $50,700.00. Following the transaction, the insider now directly owns 57,542 shares of the company’s stock, valued at $374,023. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Joseph S. Koscinski bought 4,807 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were acquired at an average price of $6.26 per share, for a total transaction of $30,091.82. Following the completion of the purchase, the insider now owns 544,609 shares in the company, valued at $3,409,252.34. The disclosure for this purchase can be found here. Insiders own 1.59% of the company’s stock.

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.