Allianz Asset Management GmbH Raises Holdings in Ecovyst Inc. $ECVT

Allianz Asset Management GmbH boosted its stake in Ecovyst Inc. (NYSE:ECVT) by 242.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 319,726 shares of the company’s stock after purchasing an additional 226,386 shares during the period. Allianz Asset Management GmbH owned about 0.28% of Ecovyst worth $2,801,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. State of Alaska Department of Revenue purchased a new stake in Ecovyst during the 3rd quarter valued at $48,000. CWM LLC lifted its stake in Ecovyst by 63.0% in the second quarter. CWM LLC now owns 5,946 shares of the company’s stock worth $49,000 after acquiring an additional 2,298 shares during the period. Parkside Financial Bank & Trust boosted its holdings in Ecovyst by 1,769.9% in the second quarter. Parkside Financial Bank & Trust now owns 6,152 shares of the company’s stock valued at $51,000 after acquiring an additional 5,823 shares in the last quarter. Jefferies Financial Group Inc. purchased a new position in shares of Ecovyst during the second quarter valued at about $101,000. Finally, Praxis Investment Management Inc. bought a new position in Ecovyst in the third quarter worth about $107,000. Hedge funds and other institutional investors own 86.69% of the company’s stock.

Ecovyst Stock Performance

NYSE:ECVT opened at $11.67 on Thursday. The stock has a market capitalization of $1.33 billion, a P/E ratio of -12.54, a P/E/G ratio of 1.44 and a beta of 1.20. The company has a current ratio of 2.25, a quick ratio of 2.07 and a debt-to-equity ratio of 1.39. Ecovyst Inc. has a 12-month low of $5.24 and a 12-month high of $11.72. The stock has a 50-day moving average price of $10.19 and a 200 day moving average price of $9.21.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on ECVT shares. Weiss Ratings restated a “sell (d)” rating on shares of Ecovyst in a research note on Wednesday, January 21st. BWS Financial reaffirmed a “buy” rating and set a $12.00 target price on shares of Ecovyst in a research note on Friday, January 2nd. Wall Street Zen downgraded Ecovyst from a “buy” rating to a “hold” rating in a research note on Sunday, December 21st. KeyCorp dropped their target price on Ecovyst from $12.00 to $11.00 and set an “overweight” rating on the stock in a report on Monday, November 10th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of Ecovyst from $14.00 to $11.00 and set a “buy” rating on the stock in a research report on Friday, November 28th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Ecovyst currently has an average rating of “Moderate Buy” and an average target price of $12.00.

Ecovyst Company Profile

Ecovyst Inc is a global specialty chemicals company that develops, manufactures and markets performance-enhancing products for industrial applications. The company’s core offerings include catalysts, phosphorus-based additives and barium carbonate materials, all designed to improve process efficiency, product quality and environmental performance. Ecovyst serves a diverse customer base in the energy, refining, chemical, polymer, food and consumer goods industries.

The company’s Catalysts segment supplies fluid catalytic cracking (FCC) and hydroprocessing catalysts that help petroleum refiners maximize fuel yield, reduce sulfur emissions and meet increasingly stringent environmental standards.