Martingale Asset Management L P Invests $274,000 in Enviri Co. (NYSE:NVRI)

Martingale Asset Management L P acquired a new stake in shares of Enviri Co. (NYSE:NVRI) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 26,474 shares of the company’s stock, valued at approximately $274,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Innealta Capital LLC acquired a new stake in shares of Enviri during the 2nd quarter worth about $26,000. CWM LLC boosted its position in Enviri by 137.6% during the second quarter. CWM LLC now owns 4,130 shares of the company’s stock worth $36,000 after acquiring an additional 2,392 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in Enviri in the 1st quarter worth approximately $70,000. FMR LLC raised its holdings in Enviri by 34.4% in the 3rd quarter. FMR LLC now owns 7,069 shares of the company’s stock valued at $73,000 after acquiring an additional 1,809 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in shares of Enviri during the 3rd quarter worth $127,000. Hedge funds and other institutional investors own 93.43% of the company’s stock.

Wall Street Analyst Weigh In

Separately, BMO Capital Markets lowered their price objective on Enviri from $13.00 to $10.00 and set a “market perform” rating for the company in a research report on Friday, November 1st.

Enviri Stock Performance

Shares of NVRI stock opened at $7.61 on Wednesday. Enviri Co. has a 1-year low of $6.28 and a 1-year high of $12.79. The firm’s 50-day simple moving average is $8.79 and its 200-day simple moving average is $9.49. The firm has a market cap of $609.87 million, a P/E ratio of -6.19 and a beta of 2.17. The company has a debt-to-equity ratio of 2.72, a current ratio of 1.30 and a quick ratio of 0.99.

Enviri (NYSE:NVRI) last announced its quarterly earnings results on Thursday, October 31st. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.08). The company had revenue of $573.60 million during the quarter, compared to analyst estimates of $613.63 million. Enviri had a negative net margin of 4.28% and a negative return on equity of 1.25%. The firm’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.05 EPS. As a group, equities analysts forecast that Enviri Co. will post -0.11 EPS for the current year.

Enviri Company Profile

Enviri Corporation provides environmental solutions for industrial and specialty waste streams in the United States and internationally. The company operates through two segments: Harsco Environmental and Clean Earth. The Harsco Environmental segment offers on-site services under long-term contracts for material logistics, product quality improvement, and resource recovery for iron, steel, and metals manufacturing; manufactures and sells industrial abrasives, roofing granules, aluminum dross, and scrap processing systems; and meltshop and furnace services, such as under-vessel cleaning, removal of ladle slag, and general melt shop debris.