Bank of New York Mellon Corp Lowers Stock Holdings in Ecovyst Inc. (NYSE:ECVT)

Bank of New York Mellon Corp decreased its position in shares of Ecovyst Inc. (NYSE:ECVT) by 0.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 367,768 shares of the company’s stock after selling 3,527 shares during the quarter. Bank of New York Mellon Corp owned 0.32% of Ecovyst worth $2,810,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the business. Spire Wealth Management grew its position in Ecovyst by 72.9% during the fourth quarter. Spire Wealth Management now owns 4,496 shares of the company’s stock valued at $34,000 after buying an additional 1,896 shares during the period. Capstone Investment Advisors LLC bought a new stake in shares of Ecovyst in the 3rd quarter worth about $86,000. Quantinno Capital Management LP purchased a new position in shares of Ecovyst in the 3rd quarter worth approximately $123,000. EP Wealth Advisors LLC purchased a new stake in shares of Ecovyst in the third quarter valued at $177,000. Finally, Intech Investment Management LLC purchased a new position in shares of Ecovyst during the third quarter valued at approximately $184,000. Hedge funds and other institutional investors own 86.69% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on ECVT. Citigroup boosted their price objective on shares of Ecovyst from $8.00 to $9.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. BMO Capital Markets decreased their price objective on Ecovyst from $11.00 to $9.00 and set an “outperform” rating for the company in a report on Monday, March 3rd. Finally, BWS Financial restated a “buy” rating and set a $12.00 target price on shares of Ecovyst in a research note on Friday, February 28th.

Ecovyst Stock Performance

Shares of NYSE ECVT opened at $6.59 on Friday. The company has a current ratio of 2.54, a quick ratio of 2.06 and a debt-to-equity ratio of 1.17. The company has a 50 day simple moving average of $7.56 and a two-hundred day simple moving average of $7.36. Ecovyst Inc. has a 12 month low of $6.02 and a 12 month high of $11.35. The stock has a market cap of $772.86 million, a price-to-earnings ratio of 14.32, a PEG ratio of 1.04 and a beta of 1.04.

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.