Rhumbline Advisers Sells 70,502 Shares of Ecovyst Inc. (NYSE:ECVT)

Rhumbline Advisers decreased its stake in shares of Ecovyst Inc. (NYSE:ECVT) by 28.6% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 175,810 shares of the company’s stock after selling 70,502 shares during the period. Rhumbline Advisers owned 0.15% of Ecovyst worth $1,090,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. Proficio Capital Partners LLC bought a new stake in Ecovyst during the fourth quarter valued at about $139,000. Charles Schwab Investment Management Inc. lifted its position in shares of Ecovyst by 11.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,903,148 shares of the company’s stock worth $14,540,000 after purchasing an additional 198,817 shares during the last quarter. Bank of America Corp DE boosted its stake in Ecovyst by 58.9% during the 4th quarter. Bank of America Corp DE now owns 1,250,750 shares of the company’s stock valued at $9,556,000 after purchasing an additional 463,435 shares during the period. BNP Paribas Financial Markets bought a new stake in Ecovyst during the 4th quarter valued at approximately $123,000. Finally, New York State Common Retirement Fund grew its holdings in Ecovyst by 31.7% in the 4th quarter. New York State Common Retirement Fund now owns 29,081 shares of the company’s stock valued at $222,000 after buying an additional 7,000 shares during the last quarter. 86.69% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Ecovyst Price Performance

Shares of NYSE:ECVT opened at $8.00 on Friday. The firm has a market capitalization of $938.61 million, a PE ratio of -79.95, a PEG ratio of 0.70 and a beta of 1.12. The company has a current ratio of 2.81, a quick ratio of 2.24 and a debt-to-equity ratio of 1.22. Ecovyst Inc. has a 1-year low of $5.24 and a 1-year high of $9.92. The business’s 50 day moving average is $7.04 and its 200-day moving average is $7.22.

Ecovyst (NYSE:ECVT) last issued its earnings results on Thursday, May 1st. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.04. The firm had revenue of $162.20 million during the quarter, compared to analysts’ expectations of $168.43 million. Ecovyst had a positive return on equity of 7.60% and a negative net margin of 1.63%. Ecovyst’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same period last year, the business earned $0.04 earnings per share. Sell-side analysts predict that Ecovyst Inc. will post 0.44 earnings per share for the current 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.