Hsbc Holdings PLC Acquires 123,772 Shares of Ecovyst Inc. $ECVT

Key Points

• Hsbc Holdings PLC increased its Ecovyst stake by 39.9% in the second quarter, acquiring 123,772 additional shares for a total of 434,094 shares valued at approximately $5.35 million.
• Institutional ownership remains high at 86.69%, with BlackRock, Rubric Capital, Arrowstreet Capital and other funds also significantly increasing or initiating positions in Ecovyst.
• Ecovyst posted quarterly EPS of $0.21, exceeding the $0.19 consensus estimate, while revenue rose 24.9% year over year to $249.96 million. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $14.50.

Hsbc Holdings PLC grew its holdings in Ecovyst Inc. (NYSE:ECVT - Free Report) by 39.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 434,094 shares of the company's stock after acquiring an additional 123,772 shares during the period. Hsbc Holdings PLC owned 0.40% of Ecovyst worth $5,348,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. BlackRock Inc. purchased a new stake in shares of Ecovyst in the 2nd quarter worth $132,792,000. Rubric Capital Management LP lifted its position in Ecovyst by 120.9% during the third quarter. Rubric Capital Management LP now owns 10,400,000 shares of the company's stock valued at $91,104,000 after purchasing an additional 5,692,653 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Ecovyst by 246.6% during the first 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 period. Brightline Capital Management LLC bought a new stake in Ecovyst during the fourth quarter valued at about $19,946,000. Finally, Oaktree Capital Management LP increased its position in Ecovyst by 48.8% in the fourth quarter. Oaktree Capital Management LP now owns 4,254,503 shares of the company's stock worth $41,396,000 after buying an additional 1,395,481 shares in the last quarter. Institutional investors own 86.69% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Freedom Capital raised Ecovyst to a "strong-buy" rating in a research note on Monday, June 29th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $14.00 target price on shares of Ecovyst in a report on Tuesday, September 1st. Citigroup initiated coverage on shares of Ecovyst in a research note on Wednesday, June 24th. They set an "overweight" rating on the stock. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Ecovyst in a report on Thursday, August 27th. Finally, Wall Street Zen lowered shares of Ecovyst from a "buy" rating to a "hold" rating in a research report on Saturday, September 5th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Ecovyst has a consensus rating of "Moderate Buy" and an average target price of $14.50.

Ecovyst Price Performance

Shares of Ecovyst stock opened at $10.25 on Thursday. The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of -19.34, a PEG ratio of 0.45 and a beta of 1.07. The company has a quick ratio of 1.44, a current ratio of 1.70 and a debt-to-equity ratio of 0.84. The stock's 50-day simple moving average is $11.22 and its 200-day simple moving average is $12.35. Ecovyst Inc. has a 52 week low of $7.41 and a 52 week high of $15.09.

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

About Ecovyst

Ecovyst Inc is a global specialty chemicals company that develops, manufactures and markets performance-enhancing products for industrial applications. The company’s core offerings include catalysts, phosphorus-based additives and barium carbonate materials, all designed to improve process efficiency, product quality and environmental performance. Ecovyst serves a diverse customer base in the energy, refining, chemical, polymer, food and consumer goods industries.

The company’s Catalysts segment supplies fluid catalytic cracking (FCC) and hydroprocessing catalysts that help petroleum refiners maximize fuel yield, reduce sulfur emissions and meet increasingly stringent environmental standards.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.