AQR Capital Management LLC Increases Stake in Ecovyst Inc. (NYSE:ECVT)

AQR Capital Management LLC lifted its stake in Ecovyst Inc. (NYSE:ECVT) by 38.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 178,598 shares of the company’s stock after buying an additional 49,888 shares during the quarter. AQR Capital Management LLC owned approximately 0.15% of Ecovyst worth $1,602,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Harbor Capital Advisors Inc. grew its stake in Ecovyst by 298.1% during the second quarter. Harbor Capital Advisors Inc. now owns 951,235 shares of the company’s stock valued at $8,533,000 after acquiring an additional 712,292 shares in the last quarter. Grizzlyrock Capital LLC purchased a new position in shares of Ecovyst in the fourth quarter valued at $4,895,000. Foundry Partners LLC bought a new stake in Ecovyst in the second quarter worth $4,401,000. William Blair Investment Management LLC increased its position in Ecovyst by 10.1% in the first quarter. William Blair Investment Management LLC now owns 3,650,404 shares of the company’s stock worth $40,702,000 after purchasing an additional 334,004 shares during the last quarter. Finally, Confluence Investment Management LLC bought a new stake in Ecovyst in the first quarter worth $3,581,000. Hedge funds and other institutional investors own 86.69% of the company’s stock.

Ecovyst Trading Up 0.1 %

ECVT stock opened at $6.57 on Friday. The company has a quick ratio of 2.18, a current ratio of 2.72 and a debt-to-equity ratio of 1.19. Ecovyst Inc. has a twelve month low of $6.02 and a twelve month high of $11.35. The stock has a market capitalization of $768.14 million, a price-to-earnings ratio of 10.42, a price-to-earnings-growth ratio of 1.17 and a beta of 1.01. The firm’s fifty day simple moving average is $6.70 and its two-hundred day simple moving average is $8.60.

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

Wall Street Analyst Weigh In

ECVT has been the topic of several research reports. KeyCorp reduced their price target 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. Citigroup reduced 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. Finally, BWS Financial reduced 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.

Insider Transactions at Ecovyst

In related news, insider Paul Whittleston purchased 7,800 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were purchased at an average cost of $6.50 per share, for a total transaction of $50,700.00. Following the completion of the acquisition, the insider now owns 57,542 shares in the company, valued at approximately $374,023. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, insider Joseph S. Koscinski purchased 4,807 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were purchased at an average cost of $6.26 per share, for a total transaction of $30,091.82. Following the completion of the acquisition, the insider now owns 544,609 shares in the company, valued at approximately $3,409,252.34. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Paul Whittleston purchased 7,800 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was bought at an average price of $6.50 per share, for a total transaction of $50,700.00. Following the completion of the acquisition, the insider now owns 57,542 shares of the company’s stock, valued at approximately $374,023. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.59% of the company’s stock.

Ecovyst 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.