Rhumbline Advisers Cuts Position in Ecovyst Inc. (NYSE:ECVT)

Rhumbline Advisers trimmed its stake in Ecovyst Inc. (NYSE:ECVT - Free Report) by 28.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 175,810 shares of the company's stock after selling 70,502 shares during the period. Rhumbline Advisers owned 0.15% of Ecovyst worth $1,090,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Versant Capital Management Inc boosted its holdings in shares of Ecovyst by 200.7% in the first quarter. Versant Capital Management Inc now owns 5,227 shares of the company's stock worth $32,000 after buying an additional 3,489 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Ecovyst by 11,312.2% during the first quarter. GAMMA Investing LLC now owns 5,592 shares of the company's stock valued at $35,000 after purchasing an additional 5,543 shares in the last quarter. Deerfield Management Company L.P. Series C purchased a new position in Ecovyst during the fourth quarter valued at approximately $79,000. Bridgefront Capital LLC purchased a new position in shares of Ecovyst in the fourth quarter worth $81,000. Finally, Cibc World Markets Corp purchased a new position in shares of Ecovyst in the fourth quarter worth $83,000. 86.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on ECVT shares. BMO Capital Markets cut their price objective 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. BWS Financial reiterated a "buy" rating and set a $12.00 price objective on shares of Ecovyst in a research report on Monday, May 5th.

Ecovyst Trading Up 1.6%

Shares of ECVT traded up $0.13 during midday trading on Monday, reaching $8.13. The company had a trading volume of 971,388 shares, compared to its average volume of 1,016,035. Ecovyst Inc. has a 1-year low of $5.24 and a 1-year high of $9.92. The stock has a market cap of $954.46 million, a PE ratio of -81.30, a price-to-earnings-growth ratio of 0.70 and a beta of 1.12. The firm has a 50 day simple moving average of $7.13 and a 200-day simple moving average of $7.21. The company has a quick ratio of 2.24, a current ratio of 2.81 and a debt-to-equity ratio of 1.22.

Ecovyst (NYSE:ECVT - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.01 EPS for the quarter, topping analysts' consensus estimates of ($0.03) by $0.04. Ecovyst had a positive return on equity of 7.60% and a negative net margin of 1.63%. The business had revenue of $162.20 million during the quarter, compared to the consensus estimate of $168.43 million. During the same period in the previous year, the company posted $0.04 earnings per share. The business's revenue for the quarter was up 1.1% on a year-over-year basis. Research analysts forecast 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.