Cubist Systematic Strategies LLC raised its position in shares of Ecovyst Inc. (NYSE:ECVT – Get Rating) by 239.8% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 333,471 shares of the company's stock after buying an additional 235,337 shares during the period. Cubist Systematic Strategies LLC's holdings in Ecovyst were worth $2,814,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Amalgamated Bank purchased a new stake in Ecovyst during the first quarter worth about $71,000. Tower Research Capital LLC TRC increased its stake in Ecovyst by 112.7% during the 3rd quarter. Tower Research Capital LLC TRC now owns 6,450 shares of the company's stock worth $55,000 after buying an additional 3,417 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Ecovyst during the 2nd quarter worth approximately $65,000. Lazard Asset Management LLC lifted its holdings in Ecovyst by 576.0% during the 2nd quarter. Lazard Asset Management LLC now owns 8,085 shares of the company's stock worth $79,000 after buying an additional 6,889 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System acquired a new position in shares of Ecovyst in the second quarter worth $102,000. 74.10% of the stock is currently owned by hedge funds and other institutional investors.
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Insiders Place Their Bets
In other Ecovyst news, Director Robert Coxon acquired 10,000 shares of the company's stock in a transaction dated Wednesday, November 16th. The shares were acquired at an average price of $8.81 per share, for a total transaction of $88,100.00. Following the acquisition, the director now owns 205,054 shares in the company, valued at approximately $1,806,525.74. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 3.08% of the stock is owned by company insiders.
Ecovyst Stock Performance
NYSE:ECVT remained flat at $9.35 during mid-day trading on Tuesday. 5,416 shares of the company traded hands, compared to its average volume of 557,337. Ecovyst Inc. has a 52-week low of $8.20 and a 52-week high of $12.05. The firm's fifty day simple moving average is $9.16 and its 200-day simple moving average is $9.37. The company has a quick ratio of 2.04, a current ratio of 2.41 and a debt-to-equity ratio of 1.17. The company has a market capitalization of $1.22 billion, a P/E ratio of 22.26 and a beta of 0.86.
Ecovyst (NYSE:ECVT – Get Rating) last announced its quarterly earnings data on Tuesday, November 1st. The company reported $0.20 earnings per share for the quarter, meeting analysts' consensus estimates of $0.20. The business had revenue of $232.50 million for the quarter, compared to analyst estimates of $226.68 million. Ecovyst had a net margin of 6.96% and a return on equity of 12.58%. Sell-side analysts predict that Ecovyst Inc. will post 0.67 EPS for the current fiscal year.
Analysts Set New Price Targets
Separately, Citigroup cut their price objective on Ecovyst from $10.50 to $10.00 and set a "neutral" rating on the stock in a research report on Thursday, December 15th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $13.50.
Ecovyst Profile
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Ecovyst Inc provides specialty catalysts and services in the United States, the Netherlands, the United Kingdom, and internationally. The company operates through two segments, Ecoservices and Catalyst Technologies. The Ecoservices segment offers sulfuric acid recycling services for production of alkylate for refineries; and virgin sulfuric acid for mining, water treatment, and industrial applications.
Further Reading
- Get a free copy of the StockNews.com research report on Ecovyst (ECVT)
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