Arizona State Retirement System Buys 4,031 Shares of Ecovyst Inc. (NYSE:ECVT)

Arizona State Retirement System lifted its stake in Ecovyst Inc. (NYSE:ECVT) by 14.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 32,751 shares of the company’s stock after buying an additional 4,031 shares during the period. Arizona State Retirement System’s holdings in Ecovyst were worth $294,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Innealta Capital LLC bought a new stake in Ecovyst during the second quarter worth $35,000. CWM LLC lifted its stake in Ecovyst by 6,920.7% during the second quarter. CWM LLC now owns 4,072 shares of the company’s stock worth $37,000 after purchasing an additional 4,014 shares during the last quarter. Quest Partners LLC bought a new stake in Ecovyst during the fourth quarter worth $78,000. Paloma Partners Management Co bought a new stake in Ecovyst during the first quarter worth $114,000. Finally, SG Americas Securities LLC bought a new stake in Ecovyst during the second quarter worth $95,000. 86.69% of the stock is currently owned by institutional investors.

Ecovyst Stock Down 0.5 %

Shares of NYSE:ECVT opened at $6.58 on Wednesday. The company has a fifty day moving average of $7.63 and a 200-day moving average of $8.92. The company has a market capitalization of $766.37 million, a PE ratio of 10.44, a price-to-earnings-growth ratio of 1.14 and a beta of 1.02. The company has a debt-to-equity ratio of 1.19, a quick ratio of 2.18 and a current ratio of 2.72. Ecovyst Inc. has a 52-week low of $6.02 and a 52-week high of $11.35.

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

Insider Transactions at Ecovyst

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

Analyst Ratings Changes

ECVT has been the subject of several recent analyst reports. KeyCorp cut their target price on Ecovyst from $13.00 to $10.00 and set an “overweight” rating for the company in a research note on Monday, August 5th. Citigroup cut their target price on Ecovyst from $13.00 to $11.00 and set a “buy” rating for the company in a research note on Friday, July 12th. Finally, BWS Financial cut their target price on Ecovyst from $18.00 to $12.00 and set a “buy” rating for the company in a research note on Monday, August 5th.

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.