Alliancebernstein L.P. Decreases Holdings in Ecovyst Inc. (NYSE:ECVT)

Alliancebernstein L.P. reduced its stake in shares of Ecovyst Inc. (NYSE:ECVT - Free Report) by 5.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,482,593 shares of the company's stock after selling 274,456 shares during the period. Alliancebernstein L.P. owned 3.85% of Ecovyst worth $34,247,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ECVT. Spire Wealth Management lifted its holdings in Ecovyst by 72.9% in the fourth quarter. Spire Wealth Management now owns 4,496 shares of the company's stock valued at $34,000 after buying an additional 1,896 shares during the period. Cibc World Markets Corp bought a new position in shares of Ecovyst during the 4th quarter worth approximately $83,000. Virtu Financial LLC acquired a new stake in shares of Ecovyst during the 4th quarter worth approximately $119,000. Quantinno Capital Management LP bought a new stake in shares of Ecovyst in the 3rd quarter valued at $123,000. Finally, AXQ Capital LP acquired a new position in shares of Ecovyst during the 4th quarter valued at $132,000. 86.69% of the stock is owned by institutional investors and hedge funds.

Ecovyst Stock Performance

Shares of NYSE ECVT traded down $0.47 during trading on Thursday, reaching $5.53. 154,596 shares of the stock traded hands, compared to its average volume of 908,111. The company has a 50-day moving average of $7.02 and a 200-day moving average of $7.29. Ecovyst Inc. has a 52-week low of $5.24 and a 52-week high of $10.65. The stock has a market capitalization of $648.69 million, a P/E ratio of 12.03, a price-to-earnings-growth ratio of 1.04 and a beta of 1.02. The company has a debt-to-equity ratio of 1.17, a current ratio of 2.54 and a quick ratio of 2.06.

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Analyst Ratings Changes

ECVT has been the topic of several research reports. BWS Financial reiterated a "buy" rating and set a $12.00 price objective on shares of Ecovyst in a report on Friday, February 28th. BMO Capital Markets dropped their price target on Ecovyst from $11.00 to $9.00 and set an "outperform" rating on the stock in a research note on Monday, March 3rd. Finally, Citigroup raised their price objective on Ecovyst from $8.00 to $9.00 and gave the company a "buy" rating in a research note on Wednesday, December 18th.

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.