MQS Management LLC Purchases New Position in Ecovyst Inc. (NYSE:ECVT)

MQS Management LLC acquired a new position in shares of Ecovyst Inc. (NYSE:ECVT) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 31,147 shares of the company’s stock, valued at approximately $279,000.

Several other hedge funds also recently modified their holdings of the company. Harbor Capital Advisors Inc. boosted its holdings in shares of Ecovyst by 298.1% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 951,235 shares of the company’s stock worth $8,533,000 after acquiring an additional 712,292 shares in the last quarter. Grizzlyrock Capital LLC acquired a new position in Ecovyst in the fourth quarter worth $4,895,000. Foundry Partners LLC bought a new stake in shares of Ecovyst during the second quarter worth $4,401,000. William Blair Investment Management LLC grew its holdings in shares of Ecovyst by 10.1% during 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 acquired a new stake in shares of Ecovyst in the first quarter valued at $3,581,000. Institutional investors and hedge funds own 86.69% of the company’s stock.

Insider Activity at Ecovyst

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

Analyst Ratings Changes

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

Ecovyst Stock Performance

Ecovyst stock opened at $6.50 on Friday. Ecovyst Inc. has a 1 year low of $6.02 and a 1 year high of $11.35. The company’s 50-day moving average is $7.52 and its two-hundred day moving average is $8.88. The company has a current ratio of 2.72, a quick ratio of 2.18 and a debt-to-equity ratio of 1.19. The company has a market cap of $757.06 million, a PE ratio of 10.32, a PEG ratio of 1.17 and a beta of 1.02.

Ecovyst (NYSE:ECVT) last announced its quarterly earnings data 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 business had revenue of $182.80 million during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the business posted $0.26 earnings per share. Equities analysts anticipate 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.