Lazard Asset Management LLC grew its stake in shares of Ecovyst Inc. (NYSE:ECVT – Get Rating) by 576.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,085 shares of the company’s stock after purchasing an additional 6,889 shares during the quarter. Lazard Asset Management LLC’s holdings in Ecovyst were worth $79,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ECVT. Amalgamated Bank acquired a new stake in Ecovyst during the first quarter worth approximately $71,000. State Board of Administration of Florida Retirement System acquired a new stake in Ecovyst during the second quarter worth approximately $102,000. Amplius Wealth Advisors LLC acquired a new stake in Ecovyst during the second quarter worth approximately $125,000. Prelude Capital Management LLC acquired a new stake in Ecovyst during the first quarter worth approximately $151,000. Finally, Arizona State Retirement System raised its holdings in Ecovyst by 50.4% during the second quarter. Arizona State Retirement System now owns 16,714 shares of the company’s stock worth $165,000 after purchasing an additional 5,599 shares in the last quarter. Institutional investors and hedge funds own 75.70% of the company’s stock.
In other Ecovyst news, Director Robert Coxon bought 10,000 shares of the business’s stock in a transaction dated Thursday, September 15th. The shares were acquired at an average cost of $8.70 per share, with a total value of $87,000.00. Following the acquisition, the director now directly owns 195,054 shares of the company’s stock, valued at approximately $1,696,969.80. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.08% of the company’s stock.
Ecovyst Stock Performance
Analysts Set New Price Targets
Separately, Citigroup cut their price objective on shares of Ecovyst from $11.00 to $9.50 in a report on Tuesday, October 4th. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Ecovyst has a consensus rating of “Moderate Buy” and an average price target of $13.38.
Ecovyst Company Profile
Ecovyst Inc provides specialty catalysts and services in the United States, the Netherlands, the United Kingdom, and internationally. The company operates through two segments, Ecoservices and Catalyst Technologies. The Ecoservices segment offers sulfuric acid recycling services for production of alkylate for refineries; and virgin sulfuric acid for mining, water treatment, and industrial applications.
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