Goldman Sachs Group Inc. Reduces Position in Ecovyst Inc. $ECVT

Key Points

• Goldman Sachs Group Inc. significantly reduced its stake in Ecovyst Inc. by 51.6%, selling 697,837 shares and now holding 655,361 shares worth approximately $4 million.
• Institutional investors continue to show interest in Ecovyst, with multiple funds increasing their holdings, resulting in 86.69% of the stock now owned by hedge funds and institutional investors.
• Ecovyst has projected FY 2025 earnings per share (EPS) of between 0.520 and 0.680, with current year EPS estimates at 0.44, despite a recent revenue miss compared to analyst expectations.

Goldman Sachs Group Inc. lessened its stake in Ecovyst Inc. (NYSE:ECVT - Free Report) by 51.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 655,361 shares of the company's stock after selling 697,837 shares during the period. Goldman Sachs Group Inc. owned 0.56% of Ecovyst worth $4,063,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. First Wilshire Securities Management Inc. increased its stake in shares of Ecovyst by 12.6% during the 1st quarter. First Wilshire Securities Management Inc. now owns 2,219,462 shares of the company's stock worth $13,761,000 after purchasing an additional 247,794 shares in the last quarter. Harbor Capital Advisors Inc. raised its stake in shares of Ecovyst by 8.1% in the 1st quarter. Harbor Capital Advisors Inc. now owns 2,163,134 shares of the company's stock valued at $13,411,000 after purchasing an additional 162,690 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Ecovyst by 10.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,106,949 shares of the company's stock valued at $13,063,000 after buying an additional 203,801 shares during the last quarter. Bank of America Corp DE grew 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 worth $9,556,000 after purchasing an additional 463,435 shares during the last quarter. Finally, Voss Capital LP grew its position in Ecovyst by 130.7% in the 1st quarter. Voss Capital LP now owns 1,198,981 shares of the company's stock worth $7,434,000 after purchasing an additional 679,299 shares during the last quarter. 86.69% of the stock is owned by hedge funds and other institutional investors.

Ecovyst Trading Down 1.9%

NYSE ECVT traded down $0.18 during trading hours on Friday, reaching $9.18. The company's stock had a trading volume of 3,871,034 shares, compared to its average volume of 1,827,274. The company has a debt-to-equity ratio of 1.22, a current ratio of 2.25 and a quick ratio of 1.69. Ecovyst Inc. has a 52 week low of $5.24 and a 52 week high of $9.69. The firm has a fifty day simple moving average of $8.88 and a 200-day simple moving average of $7.69. The stock has a market cap of $1.05 billion, a P/E ratio of -76.50, a P/E/G ratio of 4.10 and a beta of 1.24.

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

Analysts Set New Price Targets

ECVT has been the subject of several recent research reports. BWS Financial reissued a "buy" rating and set a $12.00 target price on shares of Ecovyst in a research note on Monday, August 11th. BMO Capital Markets increased their price target on shares of Ecovyst from $10.00 to $14.00 and gave the company an "outperform" rating in a report on Friday, September 12th. Finally, Wall Street Zen cut shares of Ecovyst from a "buy" rating to a "hold" rating in a research report on Friday, September 5th. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $11.67.

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.