Allspring Global Investments Holdings LLC Has $37 Million Stock Holdings in Ecovyst Inc. $ECVT

Key Points

• Allspring Global Investments Holdings LLC holds approximately $37 million worth of Ecovyst Inc. shares, comprising 4.15% of the company, after a 0.7% decrease in holdings during the second quarter.
• Several institutional investors made significant moves in Ecovyst stock, including Voss Capital LP, which increased its stake by 130.7%, and Nexpoint Asset Management L.P., which raised its holdings by an astounding 977.3%.
• Ecovyst's stock price opened at $8.36, with a market capitalization of $955.98 million, and it reported $200.10 million in revenue for the last quarter, slightly below analysts' expectations.

Allspring Global Investments Holdings LLC decreased its holdings in shares of Ecovyst Inc. (NYSE:ECVT - Free Report) by 0.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,868,721 shares of the company's stock after selling 32,780 shares during the period. Allspring Global Investments Holdings LLC owned approximately 4.15% of Ecovyst worth $37,002,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in ECVT. Nuveen LLC purchased a new stake in shares of Ecovyst in the first quarter valued at about $5,448,000. Voss Capital LP raised its holdings in shares of Ecovyst by 130.7% in the first quarter. Voss Capital LP now owns 1,198,981 shares of the company's stock valued at $7,434,000 after purchasing an additional 679,299 shares during the last quarter. Trexquant Investment LP purchased a new stake in shares of Ecovyst in the first quarter valued at about $2,004,000. Nexpoint Asset Management L.P. raised its holdings in shares of Ecovyst by 977.3% in the first quarter. Nexpoint Asset Management L.P. now owns 287,687 shares of the company's stock valued at $1,784,000 after purchasing an additional 260,982 shares during the last quarter. Finally, First Wilshire Securities Management Inc. raised its holdings in shares of Ecovyst by 12.6% in the first quarter. First Wilshire Securities Management Inc. now owns 2,219,462 shares of the company's stock valued at $13,761,000 after purchasing an additional 247,794 shares during the last quarter. Hedge funds and other institutional investors own 86.69% of the company's stock.

Ecovyst Price Performance

Shares of NYSE:ECVT opened at $8.36 on Thursday. The company has a quick ratio of 1.69, a current ratio of 2.25 and a debt-to-equity ratio of 1.22. The firm has a market capitalization of $955.98 million, a PE ratio of -69.63, a P/E/G ratio of 3.73 and a beta of 1.20. Ecovyst Inc. has a twelve month low of $5.24 and a twelve month high of $9.69. The company has a 50-day moving average price of $8.84 and a two-hundred day moving average price of $7.92.

Ecovyst (NYSE:ECVT - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $0.12 earnings per share for the quarter, hitting analysts' consensus estimates of $0.12. The firm had revenue of $200.10 million during the quarter, compared to analyst estimates of $204.27 million. Ecovyst had a negative net margin of 1.91% and a positive return on equity of 7.69%. The company's quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter last year, the business earned $0.12 earnings per share. Ecovyst has set its FY 2025 guidance at 0.520-0.680 EPS. Equities analysts forecast that Ecovyst Inc. will post 0.44 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently commented on ECVT. BMO Capital Markets increased their target price on shares of Ecovyst from $10.00 to $14.00 and gave the company an "outperform" rating in a report on Friday, September 12th. Wall Street Zen upgraded shares of Ecovyst from a "hold" rating to a "buy" rating in a research report on Saturday, October 11th. Weiss Ratings restated a "sell (d)" rating on shares of Ecovyst in a research report on Wednesday, October 8th. Finally, BWS Financial restated a "buy" rating and set a $12.00 price target on shares of Ecovyst in a research report on Monday, August 11th. Three research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $11.67.

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.

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