Prudential Financial Inc. Sells 276,580 Shares of Ecovyst Inc. $ECVT

Prudential Financial Inc. lowered its position in shares of Ecovyst Inc. (NYSE:ECVT) by 39.4% in the second quarter, HoldingsChannel reports. The fund owned 425,050 shares of the company’s stock after selling 276,580 shares during the period. Prudential Financial Inc.’s holdings in Ecovyst were worth $3,498,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. CWM LLC lifted its position in shares of Ecovyst by 63.0% in the second quarter. CWM LLC now owns 5,946 shares of the company’s stock worth $49,000 after purchasing an additional 2,298 shares in the last quarter. Parkside Financial Bank & Trust grew its position in Ecovyst by 1,769.9% in the second quarter. Parkside Financial Bank & Trust now owns 6,152 shares of the company’s stock valued at $51,000 after purchasing an additional 5,823 shares in the last quarter. AlphaQuest LLC increased its stake in Ecovyst by 60.1% in the 1st quarter. AlphaQuest LLC now owns 9,042 shares of the company’s stock valued at $56,000 after buying an additional 3,396 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Ecovyst during the 1st quarter worth about $78,000. Finally, Simplex Trading LLC acquired a new position in shares of Ecovyst during the 1st quarter worth about $116,000. 86.69% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on ECVT shares. Wall Street Zen cut Ecovyst from a “buy” rating to a “hold” rating in a report on Sunday, October 19th. BWS Financial restated a “buy” rating and issued a $12.00 price target on shares of Ecovyst in a research note on Monday, November 10th. BMO Capital Markets boosted their price target on Ecovyst from $10.00 to $14.00 and gave the stock an “outperform” rating in a research report on Friday, September 12th. Deutsche Bank Aktiengesellschaft dropped their price objective on Ecovyst from $14.00 to $11.00 and set a “buy” rating on the stock in a research note on Friday, November 28th. Finally, KeyCorp decreased their target price on shares of Ecovyst from $12.00 to $11.00 and set an “overweight” rating for the company in a research note on Monday, November 10th. Five research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Ecovyst has an average rating of “Moderate Buy” and a consensus target price of $11.40.

Ecovyst Price Performance

Shares of NYSE ECVT opened at $9.06 on Wednesday. The company has a quick ratio of 2.07, a current ratio of 2.25 and a debt-to-equity ratio of 1.39. The business’s 50 day moving average price is $8.49 and its two-hundred day moving average price is $8.49. The company has a market cap of $1.03 billion, a PE ratio of -9.74, a price-to-earnings-growth ratio of 1.57 and a beta of 1.25. Ecovyst Inc. has a twelve month low of $5.24 and a twelve month high of $9.69.

Ecovyst (NYSE:ECVT) last released its quarterly earnings data on Tuesday, November 4th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.02). The business had revenue of $204.91 million during the quarter, compared to analyst estimates of $204.74 million. Ecovyst had a negative net margin of 14.34% and a positive return on equity of 8.93%. On average, analysts predict that Ecovyst Inc. will post 0.44 EPS for the current 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.