Allspring Global Investments Holdings LLC Sells 65,587 Shares of Ecovyst Inc. (NYSE:ECVT)

Allspring Global Investments Holdings LLC decreased its stake in Ecovyst Inc. (NYSE:ECVT - Free Report) by 1.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,086,502 shares of the company's stock after selling 65,587 shares during the quarter. Allspring Global Investments Holdings LLC owned 4.37% of Ecovyst worth $39,319,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Barclays PLC lifted its stake in Ecovyst by 198.1% in the third quarter. Barclays PLC now owns 178,032 shares of the company's stock valued at $1,220,000 after buying an additional 118,303 shares during the period. Empowered Funds LLC acquired a new position in Ecovyst in the third quarter valued at about $2,087,000. Harbor Capital Advisors Inc. lifted its stake in Ecovyst by 13.9% in the fourth quarter. Harbor Capital Advisors Inc. now owns 2,000,444 shares of the company's stock valued at $15,283,000 after buying an additional 244,081 shares during the period. State Street Corp lifted its stake in Ecovyst by 1.4% in the third quarter. State Street Corp now owns 2,426,509 shares of the company's stock valued at $16,622,000 after buying an additional 33,292 shares during the period. Finally, Thompson Siegel & Walmsley LLC raised its position in shares of Ecovyst by 26.7% during the third quarter. Thompson Siegel & Walmsley LLC now owns 2,192,113 shares of the company's stock worth $15,016,000 after purchasing an additional 462,317 shares during the period. Institutional investors and hedge funds own 86.69% of the company's stock.

Ecovyst Stock Up 2.5 %

Shares of NYSE:ECVT traded up $0.21 during mid-day trading on Tuesday, reaching $8.42. 286,562 shares of the stock were exchanged, compared to its average volume of 599,355. The company has a quick ratio of 2.06, a current ratio of 2.54 and a debt-to-equity ratio of 1.17. The company has a market cap of $980.43 million, a P/E ratio of 18.29, a P/E/G 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 stock's 50 day simple moving average is $7.73 and its 200-day simple moving average is $7.30.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ECVT. Citigroup raised their price target on Ecovyst from $8.00 to $9.00 and gave the stock a "buy" rating in a research report on Wednesday, December 18th. BMO Capital Markets raised their price target on Ecovyst from $9.00 to $10.00 and gave the stock an "outperform" rating in a research report on Tuesday, December 3rd. Finally, BWS Financial reaffirmed a "buy" rating and set a $12.00 price target on shares of Ecovyst in a research report on Wednesday, December 4th.

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.