First Trust Advisors LP Buys 206,643 Shares of Ecovyst Inc. (NYSE:ECVT)

First Trust Advisors LP lifted its holdings in shares of Ecovyst Inc. (NYSE:ECVT - Free Report) by 51.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 607,257 shares of the company's stock after purchasing an additional 206,643 shares during the quarter. First Trust Advisors LP owned about 0.52% of Ecovyst worth $4,639,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ECVT. Spire Wealth Management lifted its holdings in shares of Ecovyst by 72.9% during the 4th quarter. Spire Wealth Management now owns 4,496 shares of the company's stock valued at $34,000 after acquiring an additional 1,896 shares in the last quarter. Marshall Wace LLP lifted its stake in Ecovyst by 23.4% during the fourth quarter. Marshall Wace LLP now owns 29,000 shares of the company's stock valued at $222,000 after purchasing an additional 5,500 shares during the last quarter. Federated Hermes Inc. increased its stake in Ecovyst by 5.1% in the 4th quarter. Federated Hermes Inc. now owns 122,370 shares of the company's stock valued at $935,000 after buying an additional 5,930 shares during the period. New York State Common Retirement Fund raised its holdings in Ecovyst by 31.7% during the fourth quarter. New York State Common Retirement Fund now owns 29,081 shares of the company's stock valued at $222,000 after buying an additional 7,000 shares in the last quarter. Finally, Cibc World Markets Corp acquired a new position in Ecovyst during the fourth quarter valued at approximately $83,000. Hedge funds and other institutional investors own 86.69% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on ECVT. BMO Capital Markets cut their price target on Ecovyst from $11.00 to $9.00 and set an "outperform" rating for the company in a report on Monday, March 3rd. BWS Financial restated a "buy" rating and issued a $12.00 price target on shares of Ecovyst in a research report on Friday, February 28th.

Ecovyst Trading Up 6.6 %

NYSE:ECVT traded up $0.41 on Friday, reaching $6.60. The company's stock had a trading volume of 2,308,028 shares, compared to its average volume of 939,603. The company has a debt-to-equity ratio of 1.17, a quick ratio of 2.06 and a current ratio of 2.54. The business's 50-day moving average price is $6.27 and its two-hundred day moving average price is $7.21. Ecovyst Inc. has a 1-year low of $5.24 and a 1-year high of $9.96. The firm has a market cap of $774.75 million, a PE ratio of 14.35, a PEG ratio of 1.04 and a beta of 1.02.

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