Vanguard Group Inc. Sells 101,019 Shares of Ecovyst Inc. $ECVT

Key Points

• Vanguard Group Inc. reduced its stake in Ecovyst Inc. by 0.9%, now holding about 9.22% of the company, which is worth approximately $67 million.
• Ecovyst reported earnings of $0.12 per share, aligning with analyst expectations, while its revenue for the quarter was $200.10 million, falling short of predictions of $204.27 million.
• Analysts have upgraded Ecovyst's stock to a "buy" rating, with a consensus price target of $10.00, highlighting positive sentiment toward the company's future performance.

Vanguard Group Inc. lowered its position in shares of Ecovyst Inc. (NYSE:ECVT - Free Report) by 0.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,825,114 shares of the company's stock after selling 101,019 shares during the period. Vanguard Group Inc. owned 9.22% of Ecovyst worth $67,116,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in ECVT. Shapiro Capital Management LLC boosted its stake in shares of Ecovyst by 21.9% in the fourth quarter. Shapiro Capital Management LLC now owns 4,830,268 shares of the company's stock valued at $36,903,000 after buying an additional 868,397 shares during the period. Harbor Capital Advisors Inc. boosted its stake in shares of Ecovyst by 8.1% in the first quarter. Harbor Capital Advisors Inc. now owns 2,163,134 shares of the company's stock valued at $13,411,000 after buying an additional 162,690 shares during the period. Western Standard LLC boosted its stake in shares of Ecovyst by 79.3% in the fourth quarter. Western Standard LLC now owns 1,251,626 shares of the company's stock valued at $9,562,000 after buying an additional 553,590 shares during the period. Bank of America Corp DE boosted its stake in shares of Ecovyst by 58.9% in the fourth quarter. Bank of America Corp DE now owns 1,250,750 shares of the company's stock valued at $9,556,000 after buying an additional 463,435 shares during the period. Finally, Northern Trust Corp boosted its stake in shares of Ecovyst by 8.5% in the fourth quarter. Northern Trust Corp now owns 1,064,745 shares of the company's stock valued at $8,135,000 after buying an additional 83,408 shares during the period. Institutional investors own 86.69% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. BWS Financial reiterated a "buy" rating and issued a $12.00 price target on shares of Ecovyst in a research note on Monday, August 11th. Wall Street Zen upgraded Ecovyst from a "hold" rating to a "buy" rating in a research note on Saturday, August 16th. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Ecovyst currently has a consensus rating of "Buy" and an average target price of $10.00.

Ecovyst Price Performance

ECVT stock traded down $0.02 during trading on Friday, reaching $9.10. 483,855 shares of the company were exchanged, compared to its average volume of 1,564,387. The company has a market capitalization of $1.04 billion, a price-to-earnings ratio of -75.79, a P/E/G ratio of 0.69 and a beta of 1.18. The company has a debt-to-equity ratio of 1.22, a current ratio of 2.25 and a quick ratio of 1.69. The company has a 50-day moving average of $8.66 and a two-hundred day moving average of $7.54. Ecovyst Inc. has a twelve month low of $5.24 and a twelve month high of $9.31.

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

Ecovyst Company 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.