Wedge Capital Management L L P NC Has $2.48 Million Stake in Ecovyst Inc. (NYSE:ECVT)

Wedge Capital Management L L P NC lowered its position in Ecovyst Inc. (NYSE:ECVT - Free Report) by 26.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ECVT. Spire Wealth Management increased its holdings in Ecovyst by 72.9% in the fourth quarter. Spire Wealth Management now owns 4,496 shares of the company's stock worth $34,000 after buying an additional 1,896 shares during the last quarter. Empowered Funds LLC boosted its stake in shares of Ecovyst by 5.1% during the 4th quarter. Empowered Funds LLC now owns 320,079 shares of the company's stock worth $2,445,000 after acquiring an additional 15,473 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of Ecovyst by 34.2% during the 4th quarter. Rhumbline Advisers now owns 246,312 shares of the company's stock worth $1,882,000 after acquiring an additional 62,736 shares in the last quarter. New York State Common Retirement Fund boosted its stake in shares of 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 acquiring an additional 7,000 shares in the last quarter. Finally, Proficio Capital Partners LLC bought a new stake in shares of Ecovyst during the 4th quarter worth about $139,000. Hedge funds and other institutional investors own 86.69% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ECVT. BWS Financial reiterated 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 decreased their price target on Ecovyst from $11.00 to $9.00 and set an "outperform" rating for the company in a research note on Monday, March 3rd.

Ecovyst Stock Performance

Ecovyst stock traded down $0.14 during trading hours on Friday, hitting $7.87. The stock had a trading volume of 2,000,559 shares, compared to its average volume of 1,013,481. Ecovyst Inc. has a fifty-two week low of $5.24 and a fifty-two week high of $9.92. The company has a quick ratio of 2.06, a current ratio of 2.54 and a debt-to-equity ratio of 1.17. The company has a 50-day moving average of $6.81 and a two-hundred day moving average of $7.23. The company has a market cap of $923.95 million, a PE ratio of 17.11, a price-to-earnings-growth ratio of 1.04 and a beta of 1.12.

Ecovyst (NYSE:ECVT - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported $0.01 earnings per share (EPS) for the quarter, topping 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 business had revenue of $162.20 million during the quarter, compared to analysts' expectations of $168.43 million. During the same period in the prior year, the firm posted $0.04 EPS. Ecovyst's quarterly revenue was up 1.1% compared to the same quarter last year. On average, equities research analysts anticipate that Ecovyst Inc. will post 0.44 EPS 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.