Invesco Ltd. Trims Stock Holdings in Ecovyst Inc. $ECVT

Key Points

• Invesco Ltd. reduced its holdings in Ecovyst Inc. by 21.8%, owning 250,663 shares valued at approximately $1.55 million after selling 69,889 shares in the first quarter.
• Ecovyst report its quarterly earnings with an EPS of $0.12, matching analyst expectations, but its revenue of $200.10 million fell short of the anticipated $204.27 million.
• Equities analysts have upgraded Ecovyst's rating from "hold" to "buy," with a target price of $12.00 according to BWS Financial.

Invesco Ltd. lowered its stake in Ecovyst Inc. (NYSE:ECVT - Free Report) by 21.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 250,663 shares of the company's stock after selling 69,889 shares during the period. Invesco Ltd. owned 0.21% of Ecovyst worth $1,554,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Ecovyst by 3.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 66,231 shares of the company's stock worth $506,000 after buying an additional 2,325 shares in the last quarter. Versant Capital Management Inc lifted its stake in shares of Ecovyst by 200.7% during the 1st quarter. Versant Capital Management Inc now owns 5,227 shares of the company's stock worth $32,000 after purchasing an additional 3,489 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Ecovyst by 1.2% in the first quarter. Bank of New York Mellon Corp now owns 372,061 shares of the company's stock valued at $2,307,000 after buying an additional 4,293 shares during the last quarter. EP Wealth Advisors LLC raised its stake in Ecovyst by 18.4% in the fourth quarter. EP Wealth Advisors LLC now owns 30,567 shares of the company's stock valued at $234,000 after buying an additional 4,743 shares during the last quarter. Finally, Needham Investment Management LLC raised its stake in shares of Ecovyst by 0.5% in the fourth quarter. Needham Investment Management LLC now owns 920,000 shares of the company's stock worth $7,029,000 after purchasing an additional 5,000 shares during the last quarter. Hedge funds and other institutional investors own 86.69% of the company's stock.

Analyst Ratings Changes

Several research analysts recently weighed in on ECVT shares. Wall Street Zen cut Ecovyst from a "buy" rating to a "hold" rating in a research report on Friday. BWS Financial reaffirmed a "buy" rating and issued a $12.00 price target on shares of Ecovyst in a research note on Monday, August 11th. Three investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Ecovyst has a consensus rating of "Buy" and a consensus target price of $10.00.

Ecovyst Trading Down 0.2%

Ecovyst stock traded down $0.02 during trading on Friday, hitting $9.00. The company's stock had a trading volume of 1,381,579 shares, compared to its average volume of 1,251,793. The stock has a market capitalization of $1.03 billion, a price-to-earnings ratio of -74.96, a P/E/G ratio of 0.69 and a beta of 1.24. The stock's fifty day moving average is $8.72 and its 200 day moving average is $7.57. Ecovyst Inc. has a 1-year low of $5.24 and a 1-year high of $9.31. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.69 and a current ratio of 2.25.

Ecovyst (NYSE:ECVT - Get Free Report) last posted 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. Ecovyst had a positive return on equity of 7.69% and a negative net margin of 1.91%.The firm had revenue of $200.10 million during the quarter, compared to the consensus estimate of $204.27 million. During the same quarter in the previous year, the business earned $0.12 earnings per share. The firm's quarterly revenue was up 9.5% compared to the same quarter last year. 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 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.