Federated Hermes Inc. Acquires 23,889 Shares of Ecovyst Inc. (NYSE:ECVT)

Federated Hermes Inc. increased its holdings in shares of Ecovyst Inc. (NYSE:ECVT) by 25.5% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 117,614 shares of the company’s stock after purchasing an additional 23,889 shares during the quarter. Federated Hermes Inc. owned 0.10% of Ecovyst worth $1,055,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of ECVT. ProShare Advisors LLC increased its position in shares of Ecovyst by 8.5% during the first quarter. ProShare Advisors LLC now owns 16,635 shares of the company’s stock worth $185,000 after acquiring an additional 1,308 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Ecovyst by 6.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 52,598 shares of the company’s stock worth $587,000 after purchasing an additional 3,353 shares in the last quarter. Innealta Capital LLC acquired a new stake in shares of Ecovyst in the 2nd quarter valued at about $35,000. CWM LLC lifted its holdings in shares of Ecovyst by 6,920.7% in the second quarter. CWM LLC now owns 4,072 shares of the company’s stock valued at $37,000 after purchasing an additional 4,014 shares in the last quarter. Finally, Arizona State Retirement System boosted its position in shares of Ecovyst by 14.0% during the second quarter. Arizona State Retirement System now owns 32,751 shares of the company’s stock worth $294,000 after buying an additional 4,031 shares during the period. 86.69% of the stock is currently owned by institutional investors and hedge funds.

Ecovyst Stock Performance

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

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

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. KeyCorp lowered their price objective on shares of Ecovyst from $13.00 to $10.00 and set an “overweight” rating on the stock in a report on Monday, August 5th. BWS Financial cut their price target on shares of Ecovyst from $18.00 to $12.00 and set a “buy” rating on the stock in a research report on Monday, August 5th. Finally, Citigroup decreased their price objective on Ecovyst from $13.00 to $11.00 and set a “buy” rating for the company in a report on Friday, July 12th.

Insider Transactions at Ecovyst

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

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.