The Manufacturers Life Insurance Company Has $535,000 Holdings in Ecovyst Inc. (NYSE:ECVT)

The Manufacturers Life Insurance Company lifted its holdings in shares of Ecovyst Inc. (NYSE:ECVT) by 19.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 59,633 shares of the company’s stock after purchasing an additional 9,840 shares during the period. The Manufacturers Life Insurance Company’s holdings in Ecovyst were worth $535,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the business. Sei Investments Co. lifted its holdings in Ecovyst by 58.3% in the first quarter. Sei Investments Co. now owns 521,176 shares of the company’s stock valued at $5,811,000 after buying an additional 191,839 shares during the period. Bank of New York Mellon Corp increased its position in shares of Ecovyst by 27.4% during the second quarter. Bank of New York Mellon Corp now owns 459,343 shares of the company’s stock worth $4,120,000 after acquiring an additional 98,719 shares in the last quarter. Westwood Holdings Group Inc. increased its position in shares of Ecovyst by 3.7% during the first quarter. Westwood Holdings Group Inc. now owns 5,026,022 shares of the company’s stock worth $56,040,000 after acquiring an additional 178,001 shares in the last quarter. Thompson Siegel & Walmsley LLC boosted its holdings in Ecovyst by 20.4% during the second quarter. Thompson Siegel & Walmsley LLC now owns 1,729,796 shares of the company’s stock worth $15,516,000 after purchasing an additional 292,637 shares during the last quarter. Finally, Marshall Wace LLP purchased a new position in Ecovyst during the second quarter worth about $1,322,000. Institutional investors and hedge funds own 86.69% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on ECVT. BWS Financial dropped their target price on shares of Ecovyst from $18.00 to $12.00 and set a “buy” rating on the stock in a research note on Monday, August 5th. KeyCorp decreased their target price on shares of Ecovyst from $13.00 to $10.00 and set an “overweight” rating on the stock in a report on Monday, August 5th. Finally, Citigroup decreased their target price on shares of Ecovyst from $13.00 to $11.00 and set a “buy” rating on the stock in a report on Friday, July 12th.

Ecovyst Price Performance

Shares of NYSE:ECVT opened at $6.44 on Wednesday. The company has a debt-to-equity ratio of 1.19, a current ratio of 2.72 and a quick ratio of 2.18. Ecovyst Inc. has a one year low of $6.02 and a one year high of $11.35. The company’s fifty day moving average price is $6.71 and its 200-day moving average price is $8.48. The firm has a market capitalization of $753.51 million, a price-to-earnings ratio of 10.22, a PEG ratio of 1.17 and a beta of 1.01.

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

Insider Buying and Selling at Ecovyst

In related news, insider Joseph S. Koscinski bought 4,807 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was purchased at an average cost of $6.26 per share, with a total value of $30,091.82. Following the transaction, the insider now owns 544,609 shares in the company, valued at approximately $3,409,252.34. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Ecovyst news, insider Paul Whittleston purchased 7,800 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The stock was bought at an average cost of $6.50 per share, for a total transaction of $50,700.00. Following the purchase, the insider now directly owns 57,542 shares in the company, valued at $374,023. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Joseph S. Koscinski acquired 4,807 shares of Ecovyst stock in a transaction on Monday, August 5th. The shares were purchased at an average price of $6.26 per share, with a total value of $30,091.82. Following the completion of the purchase, the insider now owns 544,609 shares in the company, valued at $3,409,252.34. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 1.59% of the stock is currently owned by corporate insiders.

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.