Ballast Asset Management LP Decreases Stake in Ecovyst Inc. (NYSE:ECVT)

Ballast Asset Management LP lessened its holdings in shares of Ecovyst Inc. (NYSE:ECVT) by 2.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 478,360 shares of the company’s stock after selling 11,547 shares during the period. Ecovyst accounts for approximately 1.9% of Ballast Asset Management LP’s investment portfolio, making the stock its 22nd biggest position. Ballast Asset Management LP’s holdings in Ecovyst were worth $3,655,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Franklin Resources Inc. acquired a new position in shares of Ecovyst during the 4th quarter worth approximately $515,000. Caisse Des Depots ET Consignations acquired a new stake in shares of Ecovyst in the fourth quarter valued at approximately $144,000. JPMorgan Chase & Co. lifted its position in Ecovyst by 25.1% during the fourth quarter. JPMorgan Chase & Co. now owns 486,088 shares of the company’s stock worth $3,714,000 after buying an additional 97,427 shares in the last quarter. EntryPoint Capital LLC acquired a new position in Ecovyst during the fourth quarter worth $186,000. Finally, Prudential Financial Inc. grew its holdings in Ecovyst by 20.4% in the 4th quarter. Prudential Financial Inc. now owns 775,790 shares of the company’s stock valued at $5,927,000 after buying an additional 131,400 shares in the last quarter. Institutional investors and hedge funds own 86.69% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on ECVT shares. BMO Capital Markets reduced their price target on Ecovyst from $11.00 to $9.00 and set an “outperform” rating on the stock in a report on Monday, March 3rd. BWS Financial restated a “buy” rating and set a $12.00 price objective on shares of Ecovyst in a research report on Friday, February 28th. Finally, Citigroup boosted their target price on shares of Ecovyst from $8.00 to $9.00 and gave the company a “buy” rating in a report on Wednesday, December 18th.

Ecovyst Price Performance

NYSE:ECVT opened at $6.22 on Tuesday. Ecovyst Inc. has a 52 week low of $6.02 and a 52 week high of $11.21. The stock’s fifty day moving average is $7.37 and its two-hundred day moving average is $7.35. The company has a market capitalization of $729.44 million, a P/E ratio of 13.51, a P/E/G ratio of 1.04 and a beta of 1.04. The company has a quick ratio of 2.06, a current ratio of 2.54 and a debt-to-equity ratio of 1.17.

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.