Wedge Capital Management L L P NC Sells 50,167 Shares of Ecovyst Inc. $ECVT

Key Points

• Wedge Capital Management L L P NC has decreased its stake in Ecovyst Inc. by 12.5%, selling 50,167 shares and now holding 350,024 shares valued at approximately $2.88 million.
• Major institutional investors, including MIRAE ASSET GLOBAL ETFS and AlphaQuest LLC, have increased their stakes in Ecovyst, indicating a growing institutional interest in the company.
• Ecovyst reported earnings per share of $0.12 for the latest quarter, matching analysts' expectations, while setting FY 2025 guidance between $0.520-0.680 EPS.

Wedge Capital Management L L P NC trimmed its stake in shares of Ecovyst Inc. (NYSE:ECVT - Free Report) by 12.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 350,024 shares of the company's stock after selling 50,167 shares during the quarter. Wedge Capital Management L L P NC owned about 0.30% of Ecovyst worth $2,881,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Versant Capital Management Inc increased its stake 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 valued at $32,000 after buying an additional 3,489 shares during the period. GAMMA Investing LLC increased its holdings in Ecovyst by 11,312.2% during the 1st quarter. GAMMA Investing LLC now owns 5,592 shares of the company's stock worth $35,000 after acquiring an additional 5,543 shares during the period. AlphaQuest LLC grew its stake in Ecovyst by 60.1% in the 1st quarter. AlphaQuest LLC now owns 9,042 shares of the company's stock worth $56,000 after buying an additional 3,396 shares in the last quarter. Royce & Associates LP purchased a new position in Ecovyst in the 1st quarter worth approximately $73,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Ecovyst during the 1st quarter valued at about $78,000. Institutional investors and hedge funds own 86.69% of the company's stock.

Analyst Upgrades and Downgrades

ECVT has been the subject of a number of recent research reports. BMO Capital Markets boosted their price objective on Ecovyst from $10.00 to $14.00 and gave the company an "outperform" rating in a research note on Friday, September 12th. BWS Financial reiterated a "buy" rating and set a $12.00 price target on shares of Ecovyst in a research note on Monday, August 11th. Finally, Wall Street Zen lowered Ecovyst from a "buy" rating to a "hold" rating in a report on Friday, September 5th. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Ecovyst presently has an average rating of "Buy" and a consensus target price of $11.67.

Ecovyst Price Performance

Shares of ECVT stock traded down $0.20 during trading hours on Monday, hitting $8.97. The company's stock had a trading volume of 1,697,601 shares, compared to its average volume of 1,827,274. Ecovyst Inc. has a twelve month low of $5.24 and a twelve month high of $9.69. The business has a fifty day moving average of $8.88 and a 200-day moving average of $7.71. The company has a current ratio of 2.25, a quick ratio of 1.69 and a debt-to-equity ratio of 1.22. The stock has a market cap of $1.03 billion, a price-to-earnings ratio of -74.71, a P/E/G ratio of 4.10 and a beta of 1.24.

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