Victory Capital Management Inc. Sells 752,905 Shares of Ecovyst Inc. (NYSE:ECVT)

Victory Capital Management Inc. trimmed its holdings in Ecovyst Inc. (NYSE:ECVT) by 22.9% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 2,540,259 shares of the company’s stock after selling 752,905 shares during the period. Victory Capital Management Inc.’s holdings in Ecovyst were worth $24,818,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Swiss National Bank raised its holdings in Ecovyst by 1.0% in the 3rd quarter. Swiss National Bank now owns 229,900 shares of the company’s stock valued at $2,262,000 after acquiring an additional 2,300 shares during the period. Principal Financial Group Inc. grew its position in shares of Ecovyst by 27.6% in the third quarter. Principal Financial Group Inc. now owns 13,217 shares of the company’s stock valued at $130,000 after purchasing an additional 2,856 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Ecovyst by 35.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,437 shares of the company’s stock worth $201,000 after purchasing an additional 5,334 shares during the period. Deutsche Bank AG lifted its holdings in Ecovyst by 15.1% during the 3rd quarter. Deutsche Bank AG now owns 43,778 shares of the company’s stock worth $431,000 after purchasing an additional 5,729 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in Ecovyst by 17.1% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 42,014 shares of the company’s stock valued at $413,000 after purchasing an additional 6,131 shares during the period. 86.69% of the stock is currently owned by institutional investors.

Ecovyst Stock Performance

NYSE:ECVT opened at $9.83 on Thursday. The company has a market cap of $1.15 billion, a price-to-earnings ratio of 15.57, a PEG ratio of 0.50 and a beta of 1.05. Ecovyst Inc. has a fifty-two week low of $8.26 and a fifty-two week high of $12.35. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.69 and a current ratio of 2.07. The stock has a fifty day moving average price of $9.95 and a 200-day moving average price of $9.63.

Ecovyst (NYSE:ECVT) last posted its quarterly earnings results on Wednesday, February 28th. The company reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). The company had revenue of $172.80 million during the quarter, compared to analyst estimates of $168.31 million. Ecovyst had a net margin of 10.70% and a return on equity of 10.94%. The firm’s revenue for the quarter was down 5.5% compared to the same quarter last year. During the same period last year, the firm earned $0.23 EPS. As a group, equities analysts anticipate that Ecovyst Inc. will post 0.81 EPS for the current fiscal year.

Insider Activity

In related news, Director Susan F. Ward sold 24,436 shares of the stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $10.28, for a total transaction of $251,202.08. Following the sale, the director now owns 67,587 shares in the company, valued at approximately $694,794.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.59% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on ECVT shares. Citigroup lifted their target price on Ecovyst from $11.50 to $13.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. BWS Financial reiterated a “buy” rating and issued a $18.00 price objective on shares of Ecovyst in a research note on Friday, May 3rd.

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.