Allspring Global Investments Holdings LLC Has $49.84 Million Stock Position in Ecovyst Inc. $ECVT

Key Points

• Allspring Global Investments reduced its Ecovyst stake by 8% in the first quarter, but still owned 3.8 million shares valued at about $49.8 million, or roughly 3.47% of the company.
• Ecovyst beat earnings and revenue expectations in its latest quarter, reporting EPS of $0.11 versus $0.07 expected and revenue of $214.95 million, up 50.2% year over year.
• Analyst sentiment is mixed but slightly positive, with an average rating of “Moderate Buy” and a consensus price target of $13.90; recent moves included upgrades from Freedom Capital, Wall Street Zen, and Citigroup.

Allspring Global Investments Holdings LLC trimmed its holdings in shares of Ecovyst Inc. (NYSE:ECVT - Free Report) by 8.0% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,798,389 shares of the company's stock after selling 329,001 shares during the period. Allspring Global Investments Holdings LLC owned approximately 3.47% of Ecovyst worth $49,835,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of ECVT. OP Asset Management Ltd acquired a new stake in Ecovyst in the first quarter valued at approximately $77,000. Russell Investments Group Ltd. bought a new position in shares of Ecovyst in the third quarter valued at $87,000. Landscape Capital Management L.L.C. bought a new stake in Ecovyst during the 3rd quarter worth approximately $89,000. PharVision Advisers LLC purchased a new stake in shares of Ecovyst in the third quarter worth approximately $101,000. Finally, Summit Securities Group LLC bought a new stake in Ecovyst during the first quarter worth $154,000. Institutional investors own 86.69% of the company's stock.

Ecovyst Stock Up 0.0%

ECVT stock opened at $12.88 on Friday. The company has a quick ratio of 2.13, a current ratio of 2.38 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $1.41 billion, a PE ratio of -23.43, a PEG ratio of 0.60 and a beta of 1.10. Ecovyst Inc. has a twelve month low of $7.41 and a twelve month high of $15.09. The stock has a 50-day simple moving average of $12.98 and a two-hundred day simple moving average of $12.30.

Ecovyst (NYSE:ECVT - Get Free Report) last posted its earnings results on Tuesday, May 5th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.04. The business had revenue of $214.95 million for the quarter, compared to analysts' expectations of $191.07 million. Ecovyst had a negative net margin of 7.71% and a positive return on equity of 11.58%. The business's revenue for the quarter was up 50.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.01 EPS. Ecovyst has set its FY 2026 guidance at 0.500-0.650 EPS. On average, equities analysts predict that Ecovyst Inc. will post 0.56 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Freedom Capital upgraded shares of Ecovyst to a "strong-buy" rating in a research note on Monday, June 29th. Wall Street Zen raised Ecovyst from a "buy" rating to a "strong-buy" rating in a report on Saturday, April 18th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Ecovyst in a research report on Monday, June 1st. Finally, Citigroup initiated coverage on Ecovyst in a research note on Wednesday, June 24th. They set an "overweight" rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Ecovyst currently has an average rating of "Moderate Buy" and an average price target of $13.90.

Ecovyst Company Profile

Ecovyst Inc is a global specialty chemicals company that develops, manufactures and markets performance-enhancing products for industrial applications. The company’s core offerings include catalysts, phosphorus-based additives and barium carbonate materials, all designed to improve process efficiency, product quality and environmental performance. Ecovyst serves a diverse customer base in the energy, refining, chemical, polymer, food and consumer goods industries.

The company’s Catalysts segment supplies fluid catalytic cracking (FCC) and hydroprocessing catalysts that help petroleum refiners maximize fuel yield, reduce sulfur emissions and meet increasingly stringent environmental standards.

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