Comerica Bank Sells 126,317 Shares of Ecovyst Inc. $ECVT

Key Points

• Comerica Bank has reduced its stake in Ecovyst Inc. by 62.6%, selling 126,317 shares during the first quarter, leaving it with 75,569 shares valued at approximately $469,000.
• Several institutional investors have adjusted their positions in Ecovyst, with notable increases from AlphaQuest LLC (up 60.1%) and Versant Capital Management Inc (up 200.7%) in the first quarter.
• Ecovyst reported a revenue increase of 9.5% year-over-year, totaling $200.10 million for the last quarter, although it fell short of the consensus estimate of $204.27 million.

Comerica Bank reduced its stake in Ecovyst Inc. (NYSE:ECVT - Free Report) by 62.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 75,569 shares of the company's stock after selling 126,317 shares during the quarter. Comerica Bank owned about 0.06% of Ecovyst worth $469,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in ECVT. Price T Rowe Associates Inc. MD boosted its position in shares of Ecovyst by 11.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 71,355 shares of the company's stock worth $546,000 after purchasing an additional 7,086 shares in the last quarter. Northern Trust Corp boosted its position in shares of Ecovyst by 8.5% in the 4th quarter. Northern Trust Corp now owns 1,064,745 shares of the company's stock worth $8,135,000 after purchasing an additional 83,408 shares in the last quarter. BNP Paribas Financial Markets bought a new position in Ecovyst in the 4th quarter valued at approximately $123,000. Bank of America Corp DE lifted its position in Ecovyst by 58.9% in the 4th quarter. Bank of America Corp DE now owns 1,250,750 shares of the company's stock valued at $9,556,000 after acquiring an additional 463,435 shares in the last quarter. Finally, EP Wealth Advisors LLC lifted its position in Ecovyst by 18.4% in the 4th quarter. EP Wealth Advisors LLC now owns 30,567 shares of the company's stock valued at $234,000 after acquiring an additional 4,743 shares in the last quarter. 86.69% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on ECVT. BMO Capital Markets upped their price objective on Ecovyst from $10.00 to $14.00 and gave the company an "outperform" rating in a research report on Friday. BWS Financial reaffirmed a "buy" rating and issued a $12.00 price objective on shares of Ecovyst in a research report on Monday, August 11th. Finally, Wall Street Zen cut Ecovyst from a "buy" rating to a "hold" rating in a research report on Friday, September 5th. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $11.67.

Ecovyst Stock Performance

ECVT traded up $0.03 during mid-day trading on Friday, reaching $9.26. 3,068,623 shares of the company traded hands, compared to its average volume of 1,245,276. 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 stock has a market capitalization of $1.06 billion, a P/E ratio of -77.17, a P/E/G ratio of 0.70 and a beta of 1.24. Ecovyst Inc. has a 52-week low of $5.24 and a 52-week high of $9.69. The company's fifty day moving average price is $8.82 and its 200-day moving average price is $7.60.

Ecovyst (NYSE:ECVT - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.12 EPS for the quarter, hitting the consensus estimate 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 positive return on equity of 7.69% and a negative net margin of 1.91%.Ecovyst's revenue was up 9.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.12 EPS. Ecovyst has set its FY 2025 guidance at 0.520-0.680 EPS. On average, sell-side analysts expect that Ecovyst Inc. will post 0.44 EPS for the current year.

Ecovyst Company 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.