Millennium Management LLC Acquires New Shares in Ecovyst Inc. (NYSE:ECVT)

Millennium Management LLC acquired a new stake in Ecovyst Inc. (NYSE:ECVT) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 283,206 shares of the company’s stock, valued at approximately $2,164,000. Millennium Management LLC owned approximately 0.24% of Ecovyst at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Spire Wealth Management increased its position in Ecovyst by 72.9% during the fourth quarter. Spire Wealth Management now owns 4,496 shares of the company’s stock worth $34,000 after buying an additional 1,896 shares in the last quarter. Deerfield Management Company L.P. Series C purchased a new position in Ecovyst during the fourth quarter worth $79,000. Bridgefront Capital LLC purchased a new position in Ecovyst during the fourth quarter worth $81,000. Cibc World Markets Corp purchased a new position in Ecovyst during the fourth quarter worth $83,000. Finally, Quarry LP grew its position in shares of Ecovyst by 485.0% in the fourth quarter. Quarry LP now owns 13,724 shares of the company’s stock valued at $105,000 after purchasing an additional 11,378 shares during the period. 86.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on ECVT. BMO Capital Markets lowered their price objective on Ecovyst from $11.00 to $9.00 and set an “outperform” rating for the company in a research report on Monday, March 3rd. BWS Financial reissued a “buy” rating and set a $12.00 price target on shares of Ecovyst in a research report on Monday, May 5th.

Ecovyst Price Performance

ECVT stock opened at $7.46 on Monday. The stock has a 50-day moving average price of $6.49 and a two-hundred day moving average price of $7.22. Ecovyst Inc. has a 12-month low of $5.24 and a 12-month high of $9.92. The company has a current ratio of 2.54, a quick ratio of 2.06 and a debt-to-equity ratio of 1.17. The company has a market cap of $875.81 million, a PE ratio of 16.22, a price-to-earnings-growth ratio of 1.04 and a beta of 1.06.

Ecovyst (NYSE:ECVT) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.04. The company had revenue of $162.20 million for the quarter, compared to analysts’ expectations of $168.43 million. Ecovyst had a return on equity of 7.07% and a net margin of 7.74%. The firm’s quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.04 earnings per share. As a group, research analysts predict that Ecovyst Inc. will post 0.44 EPS for the current 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.