Ecovyst Inc. $ECVT Shares Newly Purchased by Bank of America Corp DE

Key Points

• Bank of America acquired 584,237 Ecovyst shares worth approximately $7.3 million, representing a 0.53% stake. Institutional investors collectively own 86.69% of the company, with BlackRock also establishing a significant new position.
• Analyst sentiment is moderately positive, with a consensus rating of “Moderate Buy” and an average price target of $14.62 versus the stock’s recent price of $10.15.
• Ecovyst exceeded quarterly expectations, reporting $0.21 in EPS versus the $0.19 consensus and $249.96 million in revenue, up 24.9% year over year. Director Patti Humble also purchased nearly $250,000 of company stock.

Bank of America Corp DE acquired a new position in Ecovyst Inc. (NYSE:ECVT - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 584,237 shares of the company's stock, valued at approximately $7,274,000. Bank of America Corp DE owned 0.53% of Ecovyst at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in Ecovyst during the 2nd quarter worth approximately $132,792,000. Dimensional Fund Advisors LP boosted its stake in shares of Ecovyst by 1.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,498,654 shares of the company's stock valued at $83,573,000 after purchasing an additional 111,376 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of Ecovyst by 246.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 4,829,034 shares of the company's stock valued at $62,101,000 after purchasing an additional 3,435,942 shares during the last quarter. First Wilshire Securities Management Inc. increased its position in shares of Ecovyst by 1.0% during the first quarter. First Wilshire Securities Management Inc. now owns 2,196,784 shares of the company's stock worth $28,251,000 after buying an additional 21,850 shares during the period. Finally, Medina Value Partners LLC increased its position in shares of Ecovyst by 1.5% during the fourth quarter. Medina Value Partners LLC now owns 2,192,017 shares of the company's stock worth $21,328,000 after buying an additional 31,877 shares during the period. 86.69% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on ECVT shares. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $14.00 price target on shares of Ecovyst in a report on Tuesday, September 1st. Weiss Ratings restated a "sell (d-)" rating on shares of Ecovyst in a research report on Thursday, August 27th. Wall Street Zen raised Ecovyst from a "hold" rating to a "buy" rating in a research note on Sunday, September 13th. Citigroup assumed coverage on Ecovyst in a report on Wednesday, June 24th. They issued an "overweight" rating for the company. Finally, Freedom Capital raised Ecovyst to a "strong-buy" rating in a research note on Monday, June 29th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Ecovyst has a consensus rating of "Moderate Buy" and an average target price of $14.62.

Insider Buying and Selling

In other Ecovyst news, Director Patti Humble acquired 24,875 shares of the stock in a transaction on Thursday, September 10th. The shares were purchased at an average price of $10.05 per share, for a total transaction of $249,993.75. Following the completion of the acquisition, the director owned 33,974 shares in the company, valued at approximately $341,438.70. This represents a 273.38% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.84% of the company's stock.

Ecovyst Stock Performance

Shares of ECVT opened at $10.15 on Monday. Ecovyst Inc. has a one year low of $7.41 and a one year high of $15.09. The company has a market cap of $1.11 billion, a PE ratio of -19.16, a P/E/G ratio of 0.45 and a beta of 1.07. The stock has a 50-day moving average of $10.80 and a 200-day moving average of $12.26. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.70 and a quick ratio of 1.44.

Ecovyst (NYSE:ECVT - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.21 EPS for the quarter, beating analysts' consensus estimates of $0.19 by $0.02. Ecovyst had a positive return on equity of 13.83% and a negative net margin of 7.05%.The firm had revenue of $249.96 million during the quarter, compared to analysts' expectations of $237.54 million. During the same quarter last year, the firm posted $0.12 earnings per share. The company's revenue for the quarter was up 24.9% compared to the same quarter last year. Ecovyst has set its FY 2026 guidance at 0.580-0.720 EPS. On average, equities research analysts predict that Ecovyst Inc. will post 0.6 EPS for the current fiscal year.

Ecovyst Company Profile

Ecovyst Inc NYSE: ECVT is a global provider of specialty catalysts and related services used in refining, petrochemical, chemical, renewable-fuels and industrial applications. The company develops and manufactures zeolite-based catalysts, molecular sieves and other advanced materials that help customers improve chemical processes, product performance and emissions control.

Ecovyst also operates a specialty services business that provides sulfuric acid regeneration, spent-acid management, catalyst recovery and related environmental services.

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