Ecovyst Inc. (NYSE:ECVT) Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp decreased its stake in Ecovyst Inc. (NYSE:ECVT) by 15.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 374,847 shares of the company’s stock after selling 67,178 shares during the quarter. King Luther Capital Management Corp owned approximately 0.32% of Ecovyst worth $3,362,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Innealta Capital LLC acquired a new stake in shares of Ecovyst in the second quarter valued at about $35,000. CWM LLC boosted its position in Ecovyst by 6,920.7% during the second quarter. CWM LLC now owns 4,072 shares of the company’s stock worth $37,000 after acquiring an additional 4,014 shares during the last quarter. Quest Partners LLC acquired a new position in Ecovyst during the fourth quarter worth about $78,000. Paloma Partners Management Co acquired a new position in Ecovyst during the first quarter worth about $114,000. Finally, SG Americas Securities LLC acquired a new position in Ecovyst during the second quarter worth about $95,000. Institutional investors and hedge funds own 86.69% of the company’s stock.

Insider Activity

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

Analysts Set New Price Targets

A number of equities analysts recently weighed in on ECVT shares. Citigroup lowered their price target on shares of Ecovyst from $13.00 to $11.00 and set a “buy” rating on the stock in a research report on Friday, July 12th. 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 note on Monday, August 5th. Finally, BWS Financial reduced their target price on shares of Ecovyst from $18.00 to $12.00 and set a “buy” rating on the stock in a research note on Monday, August 5th.

Ecovyst Price Performance

Ecovyst stock opened at $6.50 on Friday. The company’s 50 day simple moving average is $7.47 and its 200-day simple moving average is $8.86. The company has a market capitalization of $757.06 million, a price-to-earnings ratio of 10.32, a price-to-earnings-growth ratio of 1.17 and a beta of 1.02. Ecovyst Inc. has a 1 year low of $6.02 and a 1 year high of $11.35. The company has a debt-to-equity ratio of 1.19, a quick ratio of 2.18 and a current ratio of 2.72.

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

About Ecovyst

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.