Franklin Resources Inc. Acquires Shares of 67,429 Ecovyst Inc. (NYSE:ECVT)

Franklin Resources Inc. acquired a new stake in Ecovyst Inc. (NYSE:ECVT - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 67,429 shares of the company's stock, valued at approximately $515,000. Franklin Resources Inc. owned approximately 0.06% of Ecovyst at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ECVT. Caisse Des Depots ET Consignations bought a new stake in shares of Ecovyst during the fourth quarter valued at approximately $144,000. JPMorgan Chase & Co. increased its stake in shares of Ecovyst by 25.1% in the fourth quarter. JPMorgan Chase & Co. now owns 486,088 shares of the company's stock worth $3,714,000 after purchasing an additional 97,427 shares in the last quarter. EntryPoint Capital LLC purchased a new position in shares of Ecovyst in the fourth quarter worth about $186,000. Prudential Financial Inc. increased its stake in shares of Ecovyst by 20.4% in the fourth quarter. Prudential Financial Inc. now owns 775,790 shares of the company's stock worth $5,927,000 after purchasing an additional 131,400 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in Ecovyst by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 10,926,133 shares of the company's stock valued at $83,476,000 after acquiring an additional 56,142 shares in the last quarter. 86.69% of the stock is owned by institutional investors and hedge funds.

Ecovyst Stock Performance

Shares of ECVT traded up $0.08 during trading hours on Wednesday, hitting $5.90. The stock had a trading volume of 77,507 shares, compared to its average volume of 916,364. 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 firm has a 50-day moving average price of $6.63 and a 200 day moving average price of $7.24. The firm has a market capitalization of $692.58 million, a price-to-earnings ratio of 12.83, a PEG ratio of 1.04 and a beta of 1.02. Ecovyst Inc. has a fifty-two week low of $5.24 and a fifty-two week high of $10.57.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. BWS Financial reiterated a "buy" rating and set a $12.00 price target on shares of Ecovyst in a report on Friday, February 28th. BMO Capital Markets decreased their price objective on shares of Ecovyst from $11.00 to $9.00 and set an "outperform" rating for the company in a report on Monday, March 3rd.

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.