Ecovyst Inc. (NYSE:ECVT) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company cut its stake in Ecovyst Inc. (NYSE:ECVT) by 6.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 54,904 shares of the company’s stock after selling 3,738 shares during the period. The Manufacturers Life Insurance Company’s holdings in Ecovyst were worth $419,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Spire Wealth Management boosted its stake in shares of Ecovyst by 72.9% in the 4th quarter. Spire Wealth Management now owns 4,496 shares of the company’s stock valued at $34,000 after buying an additional 1,896 shares during the period. Cibc World Markets Corp acquired a new stake in Ecovyst in the fourth quarter valued at approximately $83,000. Quarry LP lifted its stake in Ecovyst by 485.0% in the fourth quarter. Quarry LP now owns 13,724 shares of the company’s stock worth $105,000 after acquiring an additional 11,378 shares during the last quarter. Virtu Financial LLC purchased a new position in Ecovyst in the fourth quarter worth approximately $119,000. Finally, AXQ Capital LP acquired a new position in Ecovyst during the 4th quarter worth approximately $132,000. 86.69% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ECVT has been the topic of a number of analyst reports. BMO Capital Markets reduced their price objective on shares of Ecovyst from $11.00 to $9.00 and set an “outperform” rating on the stock in a report on Monday, March 3rd. BWS Financial reissued a “buy” rating and issued a $12.00 target price on shares of Ecovyst in a report on Monday, May 5th.

Ecovyst Stock Performance

Shares of Ecovyst stock opened at $7.58 on Friday. The company has a quick ratio of 2.06, a current ratio of 2.54 and a debt-to-equity ratio of 1.17. Ecovyst Inc. has a 52 week low of $5.24 and a 52 week high of $9.92. The firm’s 50 day moving average is $6.33 and its two-hundred day moving average is $7.26. The firm has a market capitalization of $889.55 million, a P/E ratio of 16.47, a P/E/G ratio of 1.04 and a beta of 1.06.

Ecovyst (NYSE:ECVT) last posted its earnings results on Thursday, May 1st. The company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.04. Ecovyst had a net margin of 7.74% and a return on equity of 7.07%. The firm had revenue of $162.20 million for the quarter, compared to the consensus estimate of $168.43 million. During the same period last year, the firm posted $0.04 EPS. The company’s revenue was up 1.1% on a year-over-year basis. Research analysts forecast that Ecovyst Inc. will post 0.44 EPS for the current fiscal 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.