King Luther Capital Management Corp Sells 185,388 Shares of Ecovyst Inc. (NYSE:ECVT)

King Luther Capital Management Corp decreased its stake in shares of Ecovyst Inc. (NYSE:ECVT) by 49.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 189,459 shares of the company’s stock after selling 185,388 shares during the period. King Luther Capital Management Corp’s holdings in Ecovyst were worth $1,298,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Innealta Capital LLC bought a new position in Ecovyst in the second quarter worth $35,000. CWM LLC lifted its position in Ecovyst by 6,920.7% during the 2nd quarter. CWM LLC now owns 4,072 shares of the company’s stock valued at $37,000 after acquiring an additional 4,014 shares during the period. Quarry LP boosted its stake in Ecovyst by 61.2% during the second quarter. Quarry LP now owns 4,533 shares of the company’s stock worth $41,000 after acquiring an additional 1,721 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Ecovyst in the second quarter worth about $95,000. Finally, Algert Global LLC bought a new position in shares of Ecovyst during the second quarter valued at approximately $106,000. Hedge funds and other institutional investors own 86.69% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on ECVT. KeyCorp dropped their price target on Ecovyst from $13.00 to $10.00 and set an “overweight” rating on the stock in a research report on Monday, August 5th. BWS Financial reissued a “buy” rating and issued a $12.00 target price on shares of Ecovyst in a report on Friday, November 1st. Finally, BMO Capital Markets reduced their price target on Ecovyst from $11.00 to $9.00 and set an “outperform” rating for the company in a report on Friday, November 1st.

Ecovyst Stock Performance

ECVT stock opened at $8.19 on Friday. The stock has a market capitalization of $954.22 million, a PE ratio of 17.80, a price-to-earnings-growth ratio of 1.82 and a beta of 1.01. The stock’s 50 day simple moving average is $7.03 and its 200 day simple moving average is $7.94. Ecovyst Inc. has a 12-month low of $6.02 and a 12-month high of $11.35. The company has a current ratio of 2.54, a quick ratio of 2.06 and a debt-to-equity ratio of 1.17.

Ecovyst 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.