Ballast Asset Management LP Lowers Position in Ecovyst Inc. (NYSE:ECVT)

Ballast Asset Management LP decreased its position in shares of Ecovyst Inc. (NYSE:ECVT) by 2.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 478,360 shares of the company’s stock after selling 11,547 shares during the quarter. Ecovyst accounts for approximately 1.9% of Ballast Asset Management LP’s portfolio, making the stock its 22nd largest holding. Ballast Asset Management LP owned 0.41% of Ecovyst worth $3,655,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Franklin Resources Inc. acquired a new stake in Ecovyst during the fourth quarter valued at $515,000. Caisse Des Depots ET Consignations purchased a new stake in shares of Ecovyst during the 4th quarter worth about $144,000. JPMorgan Chase & Co. boosted its stake in shares of Ecovyst by 25.1% during the 4th quarter. JPMorgan Chase & Co. now owns 486,088 shares of the company’s stock worth $3,714,000 after acquiring an additional 97,427 shares in the last quarter. EntryPoint Capital LLC acquired a new stake in shares of Ecovyst during the 4th quarter valued at about $186,000. Finally, Prudential Financial Inc. increased its stake in shares of 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 purchasing an additional 131,400 shares in the last quarter. 86.69% of the stock is owned by hedge funds and other institutional investors.

Ecovyst Trading Down 1.3 %

ECVT stock opened at $6.22 on Tuesday. The business’s 50-day moving average is $7.37 and its 200 day moving average is $7.35. Ecovyst Inc. has a 12-month low of $6.02 and a 12-month high of $11.21. The stock has a market cap of $729.44 million, a price-to-earnings ratio of 13.51, a PEG ratio of 1.04 and a beta of 1.04. The company has a current ratio of 2.54, a quick ratio of 2.06 and a debt-to-equity ratio of 1.17.

Wall Street Analyst Weigh In

ECVT has been the topic of a number of recent analyst reports. BMO Capital Markets lowered their price target on Ecovyst from $11.00 to $9.00 and set an “outperform” rating on the stock in a research report on Monday, March 3rd. Citigroup increased their target price on Ecovyst from $8.00 to $9.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Finally, BWS Financial reissued a “buy” rating and issued a $12.00 price target on shares of Ecovyst in a research note on Friday, February 28th.

About Ecovyst

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.