Insider Selling: Ecovyst Inc. (NYSE:ECVT) Major Shareholder Sells 14,000,000 Shares of Stock

Ecovyst Inc. (NYSE:ECVT – Get Rating) major shareholder Ltd Ineos sold 14,000,000 shares of the company’s stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $10.88, for a total value of $152,320,000.00. Following the completion of the transaction, the insider now directly owns 10,731,385 shares of the company’s stock, valued at approximately $116,757,468.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Ecovyst Trading Down 1.4 %

Shares of NYSE:ECVT traded down $0.15 during trading on Friday, hitting $10.51. The company had a trading volume of 1,840,433 shares, compared to its average volume of 928,514. The company has a debt-to-equity ratio of 1.28, a current ratio of 2.03 and a quick ratio of 1.61. The company has a fifty day simple moving average of $10.91 and a two-hundred day simple moving average of $10.18. Ecovyst Inc. has a one year low of $8.20 and a one year high of $11.75. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of 21.39 and a beta of 0.91.

Ecovyst (NYSE:ECVT – Get Rating) last released its quarterly earnings data on Tuesday, February 28th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.22 by $0.01. The company had revenue of $182.80 million for the quarter, compared to the consensus estimate of $189.94 million. Ecovyst had a return on equity of 11.47% and a net margin of 8.04%. As a group, equities analysts forecast that Ecovyst Inc. will post 0.84 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on ECVT shares. TheStreet lowered Ecovyst from a “b” rating to a “c+” rating in a research note on Thursday, May 4th. KeyCorp increased their price target on Ecovyst from $13.00 to $14.00 and gave the company an “overweight” rating in a research note on Wednesday, March 1st. CL King increased their price target on Ecovyst from $13.50 to $15.50 in a research note on Monday, March 6th. Finally, Citigroup increased their price target on Ecovyst from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Thursday, March 2nd.

Hedge Funds Weigh In On Ecovyst

Several institutional investors and hedge funds have recently modified their holdings of ECVT. Ameriprise Financial Inc. lifted its holdings in Ecovyst by 45.2% in the first quarter. Ameriprise Financial Inc. now owns 291,147 shares of the company’s stock valued at $3,217,000 after acquiring an additional 90,583 shares during the last quarter. Susquehanna International Group LLP purchased a new stake in shares of Ecovyst during the first quarter worth $982,000. Jane Street Group LLC purchased a new stake in shares of Ecovyst during the first quarter worth $115,000. Scopus Asset Management L.P. increased its holdings in Ecovyst by 260.0% in the first quarter. Scopus Asset Management L.P. now owns 900,000 shares of the company’s stock valued at $9,945,000 after buying an additional 650,000 shares during the last quarter. Finally, State Street Corp increased its holdings in Ecovyst by 18.2% in the first quarter. State Street Corp now owns 1,742,928 shares of the company’s stock valued at $19,259,000 after buying an additional 268,718 shares during the last quarter. Hedge funds and other institutional investors own 74.10% of the company’s stock.

About Ecovyst

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Ecovyst, Inc engages in the manufacture of specialty catalysts, materials and chemicals. It operates through the following segments: Refining Services, Catalysts and Performance Chemicals. The Refining Services segment offers sulfuric acid, virgin sulfuric acid, Oleum ECO services, sulfuric acid regeneration, aluminum sulfate, treatment services and industrial field services.