Northern Trust Corp Increases Stock Position in Ecovyst Inc. (NYSE:ECVT)

Northern Trust Corp increased its stake in shares of Ecovyst Inc. (NYSE:ECVT - Free Report) by 8.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,064,745 shares of the company's stock after purchasing an additional 83,408 shares during the quarter. Northern Trust Corp owned approximately 0.91% of Ecovyst worth $8,135,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in ECVT. Proficio Capital Partners LLC purchased a new position in Ecovyst in the fourth quarter worth $139,000. Charles Schwab Investment Management Inc. boosted its position in shares of Ecovyst by 11.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,903,148 shares of the company's stock worth $14,540,000 after purchasing an additional 198,817 shares in the last quarter. New York State Common Retirement Fund grew its stake in Ecovyst by 31.7% during the 4th quarter. New York State Common Retirement Fund now owns 29,081 shares of the company's stock worth $222,000 after buying an additional 7,000 shares during the last quarter. Vanguard Group Inc. increased its position in Ecovyst by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 10,926,133 shares of the company's stock valued at $83,476,000 after buying an additional 56,142 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in Ecovyst by 13.3% in the fourth quarter. American Century Companies Inc. now owns 272,146 shares of the company's stock valued at $2,079,000 after buying an additional 31,891 shares during the last quarter. 86.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. BWS Financial restated a "buy" rating and set a $12.00 price target on shares of Ecovyst in a research note on Monday, May 5th. BMO Capital Markets dropped their target price on shares of Ecovyst from $11.00 to $9.00 and set an "outperform" rating on the stock in a research report on Monday, March 3rd.

Ecovyst Stock Performance

Ecovyst stock traded down $0.09 during trading hours on Friday, hitting $7.31. 2,165,069 shares of the stock traded hands, compared to its average volume of 981,827. The firm's 50 day moving average price is $6.39 and its 200-day moving average price is $7.25. The company has a debt-to-equity ratio of 1.17, a current ratio of 2.54 and a quick ratio of 2.06. The stock has a market capitalization of $857.61 million, a price-to-earnings ratio of 15.88, a P/E/G ratio of 1.04 and a beta of 1.06. Ecovyst Inc. has a 1 year low of $5.24 and a 1 year high of $9.92.

Ecovyst (NYSE:ECVT - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported $0.01 EPS for the quarter, beating analysts' consensus estimates of ($0.03) by $0.04. Ecovyst had a return on equity of 7.07% and a net margin of 7.74%. The firm had revenue of $162.20 million for the quarter, compared to analyst estimates of $168.43 million. During the same quarter in the prior year, the firm earned $0.04 earnings per share. Ecovyst's revenue for the quarter was up 1.1% on a year-over-year basis. As a group, equities analysts expect that Ecovyst Inc. will post 0.44 EPS for the current fiscal year.

About Ecovyst

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.