Shapiro Capital Management LLC Trims Stock Position in Ecovyst Inc. (NYSE:ECVT)

Shapiro Capital Management LLC cut its position in shares of Ecovyst Inc. (NYSE:ECVTGet Rating) by 7.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,464,159 shares of the company’s stock after selling 414,300 shares during the period. Shapiro Capital Management LLC owned approximately 3.99% of Ecovyst worth $55,953,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. JPMorgan Chase & Co. raised its stake in Ecovyst by 13.2% during the fourth quarter. JPMorgan Chase & Co. now owns 5,519,446 shares of the company’s stock worth $56,519,000 after purchasing an additional 644,986 shares during the period. Confluence Wealth Services Inc. purchased a new position in Ecovyst during the fourth quarter worth about $160,000. Citigroup Inc. raised its stake in Ecovyst by 113.1% during the fourth quarter. Citigroup Inc. now owns 25,707 shares of the company’s stock worth $264,000 after purchasing an additional 13,645 shares during the period. Campbell & CO Investment Adviser LLC purchased a new position in Ecovyst during the fourth quarter worth about $160,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in Ecovyst during the fourth quarter worth about $281,000. 92.64% of the stock is currently owned by institutional investors.

In other news, Director Kevin Michael Fogarty purchased 40,000 shares of the stock in a transaction on Thursday, May 5th. The stock was bought at an average price of $9.85 per share, for a total transaction of $394,000.00. Following the acquisition, the director now directly owns 40,000 shares of the company’s stock, valued at approximately $394,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.23% of the company’s stock.

Shares of ECVT stock traded up $0.06 during trading on Tuesday, reaching $9.85. The company’s stock had a trading volume of 44,007 shares, compared to its average volume of 427,751. The company has a current ratio of 2.67, a quick ratio of 2.19 and a debt-to-equity ratio of 1.14. The stock’s 50-day moving average price is $10.99 and its 200 day moving average price is $10.59. Ecovyst Inc. has a 1-year low of $9.12 and a 1-year high of $17.29.

Ecovyst (NYSE:ECVTGet Rating) last announced its quarterly earnings data on Thursday, April 28th. The company reported $0.15 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.15. Ecovyst had a negative net margin of 8.60% and a positive return on equity of 9.78%. The firm had revenue of $179.70 million during the quarter, compared to analysts’ expectations of $175.46 million. During the same quarter in the previous year, the business posted $0.04 earnings per share. The business’s quarterly revenue was up 41.9% compared to the same quarter last year. Equities research analysts predict that Ecovyst Inc. will post 0.61 EPS for the current fiscal year.

A number of equities research analysts have recently issued reports on the stock. BWS Financial assumed coverage on shares of Ecovyst in a research note on Wednesday, March 23rd. They issued a “buy” rating and a $18.00 price target on the stock. TheStreet raised shares of Ecovyst from a “d+” rating to a “c-” rating in a research note on Thursday, April 7th. Zacks Investment Research raised shares of Ecovyst from a “sell” rating to a “hold” rating in a research note on Monday. KeyCorp reduced their price target on shares of Ecovyst from $18.00 to $16.00 and set an “overweight” rating on the stock in a research note on Monday, February 28th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of Ecovyst from $16.00 to $13.00 and set a “buy” rating on the stock in a research note on Wednesday, March 2nd. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $14.04.

About Ecovyst (Get Rating)

Ecovyst Inc provides specialty catalysts and services in the United States, the Netherlands, the United Kingdom, and internationally. The company operates through two segments, Ecoservices and Catalyst Technologies. The Ecoservices segment offers sulfuric acid recycling services for production of alkylate for refineries; and virgin sulfuric acid for mining, water treatment, and industrial applications.

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Institutional Ownership by Quarter for Ecovyst (NYSE:ECVT)

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