Federated Hermes Inc. Has $1.06 Million Position in Ecovyst Inc. (NYSE:ECVT)

Federated Hermes Inc. increased its position in shares of Ecovyst Inc. (NYSE:ECVT) by 25.5% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 117,614 shares of the company’s stock after purchasing an additional 23,889 shares during the period. Federated Hermes Inc.’s holdings in Ecovyst were worth $1,055,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. American Century Companies Inc. increased its stake in shares of Ecovyst by 12.9% in the 2nd quarter. American Century Companies Inc. now owns 184,125 shares of the company’s stock valued at $1,652,000 after purchasing an additional 21,032 shares during the last quarter. Foundry Partners LLC bought a new position in Ecovyst in the second quarter valued at about $4,401,000. Arizona State Retirement System raised its stake in Ecovyst by 14.0% during the second quarter. Arizona State Retirement System now owns 32,751 shares of the company’s stock worth $294,000 after acquiring an additional 4,031 shares in the last quarter. Rhumbline Advisers grew its stake in shares of Ecovyst by 22.4% during the second quarter. Rhumbline Advisers now owns 182,408 shares of the company’s stock worth $1,636,000 after buying an additional 33,405 shares during the last quarter. Finally, Innealta Capital LLC acquired a new position in shares of Ecovyst during the second quarter worth $35,000. 86.69% of the stock is owned by institutional investors.

Insider Activity

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

Analysts Set New Price Targets

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

Ecovyst Stock Down 1.8 %

Ecovyst stock opened at $6.50 on Friday. The company has a quick ratio of 2.18, a current ratio of 2.72 and a debt-to-equity ratio of 1.19. The company has a market capitalization of $757.06 million, a PE ratio of 10.32, a PEG ratio of 1.17 and a beta of 1.02. The firm’s fifty day moving average is $7.47 and its 200 day moving average is $8.86. Ecovyst Inc. has a 12-month low of $6.02 and a 12-month high of $11.35.

Ecovyst (NYSE:ECVT) last issued 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). Ecovyst had a net margin of 8.14% and a return on equity of 7.88%. The firm had revenue of $182.80 million during the quarter, compared to analyst estimates of $189.79 million. During the same quarter in the prior year, the business earned $0.26 earnings per share. The business’s quarterly revenue was down .7% on a year-over-year basis. As a group, sell-side analysts predict that Ecovyst Inc. will post 0.46 EPS for the current fiscal year.

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.