Wedge Capital Management L L P NC Sells 146,687 Shares of Ecovyst Inc. (NYSE:ECVT)

Wedge Capital Management L L P NC lowered its position in Ecovyst Inc. (NYSE:ECVT - Free Report) by 26.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 400,191 shares of the company's stock after selling 146,687 shares during the quarter. Wedge Capital Management L L P NC owned approximately 0.34% of Ecovyst worth $2,481,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. UMB Bank n.a. acquired a new position in shares of Ecovyst in the first quarter valued at $3,215,000. GAMMA Investing LLC grew its stake in Ecovyst by 11,312.2% in the 1st quarter. GAMMA Investing LLC now owns 5,592 shares of the company's stock valued at $35,000 after buying an additional 5,543 shares during the last quarter. Versant Capital Management Inc raised its holdings in Ecovyst by 200.7% in the 1st quarter. Versant Capital Management Inc now owns 5,227 shares of the company's stock valued at $32,000 after acquiring an additional 3,489 shares during the period. PharVision Advisers LLC bought a new stake in shares of Ecovyst during the fourth quarter worth approximately $444,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Ecovyst by 27.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 248,731 shares of the company's stock valued at $1,900,000 after purchasing an additional 52,943 shares during the last quarter. Institutional investors own 86.69% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have commented on the company. BWS Financial reaffirmed a "buy" rating and issued a $12.00 price objective on shares of Ecovyst in a report on Monday, May 5th. BMO Capital Markets lowered their price target 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 Price Performance

Shares of ECVT traded down $0.20 during trading hours on Thursday, hitting $8.04. 674,090 shares of the company were exchanged, compared to its average volume of 1,009,484. The company has a quick ratio of 2.06, a current ratio of 2.54 and a debt-to-equity ratio of 1.17. Ecovyst Inc. has a fifty-two week low of $5.24 and a fifty-two week high of $9.91. The company has a market cap of $943.90 million, a price-to-earnings ratio of 17.48, a P/E/G ratio of 1.04 and a beta of 1.12. The firm's fifty day moving average is $6.76 and its 200 day moving average is $7.23.

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