Mill Road Capital Management LLC Invests $10.17 Million in Enviri Co. (NYSE:NVRI)

Mill Road Capital Management LLC purchased a new stake in Enviri Co. (NYSE:NVRI) in the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 983,272 shares of the company’s stock, valued at approximately $10,167,000. Enviri accounts for 4.8% of Mill Road Capital Management LLC’s holdings, making the stock its 10th largest holding.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Barrow Hanley Mewhinney & Strauss LLC grew its position in shares of Enviri by 1.2% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 5,330,795 shares of the company’s stock worth $46,005,000 after purchasing an additional 62,298 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Enviri by 6.5% during the second quarter. Dimensional Fund Advisors LP now owns 4,107,266 shares of the company’s stock worth $35,446,000 after buying an additional 249,181 shares in the last quarter. Paradigm Capital Management Inc. NY increased its stake in Enviri by 3.5% during the 2nd quarter. Paradigm Capital Management Inc. NY now owns 3,908,400 shares of the company’s stock worth $33,729,000 after acquiring an additional 132,000 shares during the period. D. E. Shaw & Co. Inc. lifted its position in shares of Enviri by 11.1% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 3,823,704 shares of the company’s stock valued at $32,999,000 after acquiring an additional 383,395 shares during the period. Finally, Brightline Capital Management LLC bought a new stake in shares of Enviri during the 3rd quarter valued at $10,340,000. 93.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Enviri Price Performance

Shares of NYSE:NVRI opened at $7.61 on Wednesday. The firm has a 50 day moving average of $8.79 and a 200-day moving average of $9.49. Enviri Co. has a 12 month low of $6.28 and a 12 month high of $12.79. The company has a current ratio of 1.30, a quick ratio of 0.99 and a debt-to-equity ratio of 2.72. The stock has a market capitalization of $609.87 million, a PE ratio of -6.19 and a beta of 2.17.

Enviri (NYSE:NVRI) last announced its quarterly earnings data on Thursday, October 31st. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.08). The firm had revenue of $573.60 million for 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% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.05 earnings per share. On average, equities research analysts predict that Enviri Co. will post -0.11 EPS for the current fiscal year.

Enviri 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.