Allspring Global Investments Holdings LLC Cuts Stake in Ecovyst Inc. (NYSE:ECVT)

Allspring Global Investments Holdings LLC lessened its stake in shares of Ecovyst Inc. (NYSE:ECVT) by 1.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,086,502 shares of the company’s stock after selling 65,587 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Ecovyst were worth $39,319,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Spire Wealth Management grew its stake in shares of Ecovyst by 72.9% during the 4th quarter. Spire Wealth Management now owns 4,496 shares of the company’s stock worth $34,000 after acquiring an additional 1,896 shares during the period. Capstone Investment Advisors LLC bought a new position in Ecovyst during the third quarter worth about $86,000. Quantinno Capital Management LP purchased a new position in shares of Ecovyst in the third quarter worth about $123,000. EP Wealth Advisors LLC bought a new stake in shares of Ecovyst in the third quarter valued at approximately $177,000. Finally, Intech Investment Management LLC purchased a new stake in shares of Ecovyst during the 3rd quarter valued at approximately $184,000. Institutional investors own 86.69% of the company’s stock.

Ecovyst Stock Up 0.2 %

ECVT opened at $8.22 on Friday. The firm has a market capitalization of $957.13 million, a P/E ratio of 17.86, a price-to-earnings-growth ratio of 1.00 and a beta of 1.05. Ecovyst Inc. has a one year low of $6.02 and a one year high of $11.35. The company has a fifty day moving average price of $7.73 and a 200-day moving average price of $7.32. The company has a debt-to-equity ratio of 1.17, a current ratio of 2.54 and a quick ratio of 2.06.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ECVT. BWS Financial reissued a “buy” rating and set a $12.00 target price on shares of Ecovyst in a report on Wednesday, December 4th. BMO Capital Markets increased their price objective on Ecovyst from $9.00 to $10.00 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. Finally, Citigroup raised their target price on Ecovyst from $8.00 to $9.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th.

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.