Allspring Global Investments Holdings LLC Cuts Stock Holdings in Ecovyst Inc. (NYSE:ECVT)

Allspring Global Investments Holdings LLC lowered its stake in shares of Ecovyst Inc. (NYSE:ECVT - Free Report) by 3.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,901,501 shares of the company's stock after selling 185,001 shares during the period. Allspring Global Investments Holdings LLC owned about 4.18% of Ecovyst worth $30,340,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in shares of Ecovyst by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 10,926,133 shares of the company's stock valued at $83,476,000 after acquiring an additional 56,142 shares during the period. Shapiro Capital Management LLC grew its holdings in shares of Ecovyst by 21.9% in the 4th quarter. Shapiro Capital Management LLC now owns 4,830,268 shares of the company's stock worth $36,903,000 after acquiring an additional 868,397 shares during the period. William Blair Investment Management LLC increased its stake in Ecovyst by 1.9% in the 4th quarter. William Blair Investment Management LLC now owns 3,601,346 shares of the company's stock valued at $27,514,000 after purchasing an additional 67,338 shares in the last quarter. Medina Value Partners LLC raised its holdings in Ecovyst by 44.2% during the fourth quarter. Medina Value Partners LLC now owns 2,742,233 shares of the company's stock worth $20,951,000 after purchasing an additional 840,495 shares during the last quarter. Finally, Boston Partners raised its holdings in Ecovyst by 30.2% during the fourth quarter. Boston Partners now owns 2,401,811 shares of the company's stock worth $18,405,000 after purchasing an additional 557,249 shares during the last quarter. Hedge funds and other institutional investors own 86.69% of the company's stock.

Ecovyst Price Performance

ECVT traded up $0.10 during midday trading on Friday, reaching $8.40. 853,685 shares of the company's stock were exchanged, compared to its average volume of 1,050,349. The company has a debt-to-equity ratio of 1.22, a current ratio of 2.81 and a quick ratio of 2.24. Ecovyst Inc. has a 1-year low of $5.24 and a 1-year high of $9.92. The stock has a market capitalization of $986.16 million, a PE ratio of -84.00, a P/E/G ratio of 0.74 and a beta of 1.13. The business's 50-day moving average price is $7.56 and its 200 day moving average price is $7.25.

Ecovyst (NYSE:ECVT - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.04. The company had revenue of $162.20 million for the quarter, compared to analysts' expectations of $168.43 million. Ecovyst had a negative net margin of 1.63% and a positive return on equity of 7.60%. The firm's revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period last year, the company earned $0.04 EPS. As a group, equities analysts anticipate that Ecovyst Inc. will post 0.44 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, BWS Financial reissued a "buy" rating and issued a $12.00 target price on shares of Ecovyst in a report on Monday, May 5th.

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.