Wedge Capital Management L L P NC Purchases 161,318 Shares of Ecovyst Inc. (NYSE:ECVT)

Wedge Capital Management L L P NC raised its position in Ecovyst Inc. (NYSE:ECVT) by 38.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 585,175 shares of the company’s stock after purchasing an additional 161,318 shares during the quarter. Wedge Capital Management L L P NC owned 0.50% of Ecovyst worth $5,717,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of ECVT. Vanguard Group Inc. grew its stake in Ecovyst by 11.7% during the third quarter. Vanguard Group Inc. now owns 10,795,380 shares of the company’s stock worth $106,227,000 after purchasing an additional 1,128,473 shares during the period. Victory Capital Management Inc. grew its stake in Ecovyst by 29.1% during the third quarter. Victory Capital Management Inc. now owns 3,293,164 shares of the company’s stock worth $32,405,000 after purchasing an additional 742,496 shares during the period. Thompson Siegel & Walmsley LLC grew its stake in Ecovyst by 27.1% during the third quarter. Thompson Siegel & Walmsley LLC now owns 1,649,653 shares of the company’s stock worth $16,233,000 after purchasing an additional 351,557 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Ecovyst by 19.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,410,689 shares of the company’s stock valued at $13,881,000 after acquiring an additional 231,294 shares during the period. Finally, Ballast Asset Management LP acquired a new stake in Ecovyst in the third quarter valued at approximately $1,659,000. 86.69% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Susan F. Ward sold 24,436 shares of the business’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $10.28, for a total transaction of $251,202.08. Following the completion of the transaction, the director now directly owns 67,587 shares in the company, valued at $694,794.36. The transaction was disclosed in a document filed with the SEC, which is available through this link. 1.59% of the stock is owned by company insiders.

Ecovyst Stock Performance

Shares of Ecovyst stock opened at $10.10 on Wednesday. The business’s fifty day simple moving average is $9.96 and its 200 day simple moving average is $9.61. The firm has a market capitalization of $1.18 billion, a P/E ratio of 16.56, a price-to-earnings-growth ratio of 0.51 and a beta of 1.01. Ecovyst Inc. has a 12 month low of $8.26 and a 12 month high of $12.35. The company has a current ratio of 2.07, a quick ratio of 1.69 and a debt-to-equity ratio of 1.22.

Ecovyst (NYSE:ECVT) last released its earnings results on Wednesday, February 28th. The company reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). Ecovyst had a return on equity of 11.08% and a net margin of 10.30%. The firm had revenue of $172.80 million during the quarter, compared to analysts’ expectations of $168.31 million. During the same period in the prior year, the business earned $0.23 earnings per share. The business’s quarterly revenue was down 5.5% compared to the same quarter last year. As a group, analysts anticipate that Ecovyst Inc. will post 0.81 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Citigroup raised their price objective on Ecovyst from $11.50 to $13.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th.

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.