Magnolia Capital Advisors LLC Takes $744,000 Position in Ecovyst Inc. (NYSE:ECVT)

Magnolia Capital Advisors LLC acquired a new position in Ecovyst Inc. (NYSE:ECVT) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 82,973 shares of the company’s stock, valued at approximately $744,000. Magnolia Capital Advisors LLC owned 0.07% of Ecovyst as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ECVT. Harbor Capital Advisors Inc. grew its position in shares of Ecovyst by 298.1% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 951,235 shares of the company’s stock worth $8,533,000 after buying an additional 712,292 shares during the period. Grizzlyrock Capital LLC bought a new stake in shares of Ecovyst during the 4th quarter valued at $4,895,000. Foundry Partners LLC acquired a new position in shares of Ecovyst in the 2nd quarter valued at $4,401,000. William Blair Investment Management LLC lifted its stake in shares of Ecovyst by 10.1% in the 1st quarter. William Blair Investment Management LLC now owns 3,650,404 shares of the company’s stock valued at $40,702,000 after purchasing an additional 334,004 shares during the period. Finally, Confluence Investment Management LLC bought a new position in shares of Ecovyst in the 1st quarter worth $3,581,000. 86.69% of the stock is owned by institutional investors.

Ecovyst Stock Performance

ECVT stock opened at $6.93 on Monday. Ecovyst Inc. has a 1-year low of $6.02 and a 1-year high of $11.35. The company has a current ratio of 2.72, a quick ratio of 2.18 and a debt-to-equity ratio of 1.19. The firm has a market cap of $810.84 million, a PE ratio of 11.00, a P/E/G ratio of 1.18 and a beta of 1.02. The business’s 50-day moving average price is $7.19 and its two-hundred day moving average price is $8.78.

Ecovyst (NYSE:ECVT) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.01). Ecovyst had a net margin of 8.14% and a return on equity of 7.88%. The business had revenue of $182.80 million for the quarter, compared to the consensus estimate of $189.79 million. During the same quarter last year, the firm earned $0.26 EPS. The company’s revenue for the quarter was down .7% on a year-over-year basis. As a group, research analysts forecast that Ecovyst Inc. will post 0.46 earnings per share for the current year.

Insider Activity

In related news, insider Paul Whittleston acquired 7,800 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were acquired at an average cost of $6.50 per share, for a total transaction of $50,700.00. Following the completion of the acquisition, the insider now directly owns 57,542 shares in the company, valued at approximately $374,023. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Joseph S. Koscinski bought 4,807 shares of the business’s stock in a transaction on Monday, August 5th. The shares were purchased at an average price of $6.26 per share, for a total transaction of $30,091.82. Following the purchase, the insider now owns 544,609 shares of the company’s stock, valued at approximately $3,409,252.34. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Paul Whittleston purchased 7,800 shares of Ecovyst stock in a transaction on Wednesday, August 7th. The shares were purchased at an average cost of $6.50 per share, with a total value of $50,700.00. Following the transaction, the insider now owns 57,542 shares in the company, valued at $374,023. The disclosure for this purchase can be found here. Corporate insiders own 1.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on ECVT shares. BWS Financial dropped their price objective on Ecovyst from $18.00 to $12.00 and set a “buy” rating for the company in a report on Monday, August 5th. KeyCorp lowered their price target on Ecovyst from $13.00 to $10.00 and set an “overweight” rating for the company in a research note on Monday, August 5th. Finally, Citigroup reduced their price objective on shares of Ecovyst from $13.00 to $11.00 and set a “buy” rating on the stock in a research note on Friday, July 12th.

Ecovyst Company 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.