California State Teachers Retirement System Sells 1,508 Shares of Ecovyst Inc. (NYSE:ECVT)

California State Teachers Retirement System trimmed its stake in Ecovyst Inc. (NYSE:ECVT) by 1.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 103,964 shares of the company’s stock after selling 1,508 shares during the quarter. California State Teachers Retirement System owned 0.09% of Ecovyst worth $794,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Deerfield Management Company L.P. Series C bought a new stake in Ecovyst in the fourth quarter worth $79,000. Bridgefront Capital LLC bought a new stake in Ecovyst in the fourth quarter worth $81,000. Cibc World Markets Corp bought a new stake in Ecovyst in the fourth quarter worth $83,000. Quarry LP boosted its holdings 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 in the last quarter. Finally, Virtu Financial LLC bought a new stake in Ecovyst in the fourth quarter worth $119,000. 86.69% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on ECVT. BMO Capital Markets dropped their target price on Ecovyst from $11.00 to $9.00 and set an “outperform” rating on the stock in a report on Monday, March 3rd. BWS Financial restated a “buy” rating and issued a $12.00 price target on shares of Ecovyst in a research note on Monday, May 5th.

Ecovyst Stock Up 1.4%

ECVT stock opened at $8.14 on Wednesday. Ecovyst Inc. has a 1-year low of $5.24 and a 1-year high of $9.92. The business has a fifty day moving average price of $6.71 and a 200-day moving average price of $7.22. The company has a debt-to-equity ratio of 1.17, a current ratio of 2.54 and a quick ratio of 2.06. The stock has a market capitalization of $955.06 million, a P/E ratio of 17.69, a P/E/G ratio of 1.04 and a beta of 1.12.

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

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.