Bank of America Corp DE Grows Stock Holdings in Ecovyst Inc. (NYSE:ECVT)

Bank of America Corp DE grew its position in Ecovyst Inc. (NYSE:ECVT - Free Report) by 58.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,250,750 shares of the company's stock after purchasing an additional 463,435 shares during the quarter. Bank of America Corp DE owned approximately 1.07% of Ecovyst worth $9,556,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. BNP Paribas Financial Markets acquired a new stake in Ecovyst during the 4th quarter worth $123,000. Northern Trust Corp raised its stake in Ecovyst by 8.5% during the 4th quarter. Northern Trust Corp now owns 1,064,745 shares of the company's stock worth $8,135,000 after acquiring an additional 83,408 shares in the last quarter. Quarry LP raised its stake in Ecovyst by 485.0% during the 4th quarter. Quarry LP now owns 13,724 shares of the company's stock worth $105,000 after acquiring an additional 11,378 shares in the last quarter. Boothbay Fund Management LLC acquired a new stake in Ecovyst during the 4th quarter worth $539,000. Finally, Price T Rowe Associates Inc. MD raised its stake in Ecovyst by 11.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 71,355 shares of the company's stock worth $546,000 after acquiring an additional 7,086 shares in the last quarter. 86.69% of the stock is currently owned by institutional investors and hedge funds.

Ecovyst Stock Performance

Ecovyst stock traded down $0.11 during midday trading on Thursday, hitting $7.52. 997,039 shares of the company's stock were exchanged, compared to its average volume of 985,799. Ecovyst Inc. has a 12-month low of $5.24 and a 12-month high of $9.92. The company has a debt-to-equity ratio of 1.17, a quick ratio of 2.06 and a current ratio of 2.54. The stock has a market cap of $882.86 million, a price-to-earnings ratio of 16.35, a price-to-earnings-growth ratio of 1.04 and a beta of 1.06. The firm's 50 day simple moving average is $6.46 and its 200 day simple moving average is $7.24.

Ecovyst (NYSE:ECVT - Get Free Report) last issued its quarterly earnings data 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. Ecovyst had a net margin of 7.74% and a return on equity of 7.07%. The company had revenue of $162.20 million for the quarter, compared to the consensus estimate of $168.43 million. During the same period last year, the firm posted $0.04 EPS. Ecovyst's revenue for the quarter was up 1.1% on a year-over-year basis. Equities research analysts predict that Ecovyst Inc. will post 0.44 EPS for the current year.

Analysts Set New Price Targets

ECVT has been the topic of several research analyst reports. BMO Capital Markets cut their price target on shares of Ecovyst from $11.00 to $9.00 and set an "outperform" rating on the stock in a research note on Monday, March 3rd. BWS Financial reiterated a "buy" rating and set a $12.00 price target on shares of Ecovyst in a research note on Monday, May 5th.

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.