Arizona State Retirement System Boosts Stock Position in Ecovyst Inc. (NYSE:ECVT)

Arizona State Retirement System lifted its position in Ecovyst Inc. (NYSE:ECVT – Get Rating) by 32.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 22,423 shares of the company’s stock after purchasing an additional 5,462 shares during the quarter. Arizona State Retirement System’s holdings in Ecovyst were worth $199,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of ECVT. Tower Research Capital LLC TRC increased its holdings in Ecovyst by 112.7% in the 3rd quarter. Tower Research Capital LLC TRC now owns 6,450 shares of the company’s stock worth $55,000 after buying an additional 3,417 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Ecovyst in the second quarter worth $65,000. New York State Teachers Retirement System purchased a new position in shares of Ecovyst during the fourth quarter worth $59,000. Sandia Investment Management LP acquired a new position in Ecovyst during the third quarter valued at $63,000. Finally, Amalgamated Bank boosted its holdings in Ecovyst by 21.1% in the third quarter. Amalgamated Bank now owns 9,819 shares of the company’s stock valued at $83,000 after purchasing an additional 1,714 shares during the last quarter. Institutional investors and hedge funds own 74.10% of the company’s stock.

Ecovyst Stock Performance

NYSE ECVT opened at $10.63 on Thursday. The company has a current ratio of 2.03, a quick ratio of 1.61 and a debt-to-equity ratio of 1.28. Ecovyst Inc. has a twelve month low of $8.20 and a twelve month high of $11.75. The stock has a 50-day moving average of $10.90 and a 200 day moving average of $10.18. The stock has a market capitalization of $1.28 billion, a price-to-earnings ratio of 21.69 and a beta of 0.91.

Ecovyst (NYSE:ECVT – Get Rating) last announced its earnings results on Tuesday, February 28th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.01. The firm had revenue of $182.80 million for the quarter, compared to analyst estimates of $189.94 million. Ecovyst had a return on equity of 11.47% and a net margin of 8.04%. Sell-side analysts anticipate that Ecovyst Inc. will post 0.84 EPS for the current fiscal year.

Insider Activity

In other Ecovyst news, major shareholder Ccmp Capital, Lp sold 11,490,444 shares of Ecovyst stock in a transaction on Tuesday, March 7th. The shares were sold at an average price of $9.95, for a total transaction of $114,329,917.80. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 3.08% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on ECVT. CL King lifted their price objective on Ecovyst from $13.50 to $15.50 in a research note on Monday, March 6th. KeyCorp upped their price objective on Ecovyst from $13.00 to $14.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 1st. TheStreet lowered shares of Ecovyst from a “b” rating to a “c+” rating in a report on Thursday, May 4th. Finally, Citigroup boosted their target price on shares of Ecovyst from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Thursday, March 2nd.

Ecovyst Profile

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Ecovyst, Inc engages in the manufacture of specialty catalysts, materials and chemicals. It operates through the following segments: Refining Services, Catalysts and Performance Chemicals. The Refining Services segment offers sulfuric acid, virgin sulfuric acid, Oleum ECO services, sulfuric acid regeneration, aluminum sulfate, treatment services and industrial field services.