Ecovyst Inc. $ECVT Position Boosted by Brigade Capital Management LP

Key Points

• Brigade Capital Management LP increased its stake in Ecovyst Inc. by 28.7%, acquiring a total of 667,255 shares, making it the firm's fourth-largest position.
• Several institutional investors, including AlphaQuest LLC and Versant Capital Management Inc, have also significantly increased their positions in Ecovyst during the first quarter of this year.
• Ecovyst reported earnings of $0.12 per share for the last quarter, meeting analysts' expectations, but its revenue of $200.10 million fell short of the predicted $204.27 million.

Brigade Capital Management LP raised its holdings in Ecovyst Inc. (NYSE:ECVT - Free Report) by 28.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 667,255 shares of the company's stock after purchasing an additional 148,755 shares during the quarter. Ecovyst accounts for approximately 0.5% of Brigade Capital Management LP's investment portfolio, making the stock its 4th biggest position. Brigade Capital Management LP owned about 0.57% of Ecovyst worth $4,137,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of ECVT. Versant Capital Management Inc boosted its holdings in shares of Ecovyst by 200.7% in the 1st quarter. Versant Capital Management Inc now owns 5,227 shares of the company's stock valued at $32,000 after purchasing an additional 3,489 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Ecovyst by 11,312.2% in the 1st quarter. GAMMA Investing LLC now owns 5,592 shares of the company's stock valued at $35,000 after purchasing an additional 5,543 shares in the last quarter. AlphaQuest LLC boosted its holdings in shares of Ecovyst by 60.1% in the 1st quarter. AlphaQuest LLC now owns 9,042 shares of the company's stock valued at $56,000 after purchasing an additional 3,396 shares in the last quarter. Royce & Associates LP acquired a new stake in shares of Ecovyst in the 1st quarter valued at $73,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Ecovyst in the 1st quarter valued at $78,000. Institutional investors and hedge funds own 86.69% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Wall Street Zen downgraded Ecovyst from a "buy" rating to a "hold" rating in a report on Friday. BWS Financial reissued a "buy" rating and set a $12.00 price objective on shares of Ecovyst in a report on Monday, August 11th. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $10.00.

Ecovyst Stock Up 0.8%

ECVT stock traded up $0.08 during mid-day trading on Monday, reaching $9.08. 681,624 shares of the company traded hands, compared to its average volume of 1,210,766. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of -75.63, a P/E/G ratio of 0.68 and a beta of 1.24. The company has a quick ratio of 1.69, a current ratio of 2.25 and a debt-to-equity ratio of 1.22. Ecovyst Inc. has a fifty-two week low of $5.24 and a fifty-two week high of $9.31. The firm's 50 day moving average price is $8.72 and its 200 day moving average price is $7.56.

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

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.