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

Mill Road Capital Management LLC acquired a new position in Enviri Co. (NYSE:NVRI) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 983,272 shares of the company’s stock, valued at approximately $10,167,000. Enviri makes up about 4.8% of Mill Road Capital Management LLC’s investment portfolio, making the stock its 10th biggest position. Mill Road Capital Management LLC owned 1.23% of Enviri as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in NVRI. Innealta Capital LLC bought a new stake in Enviri during the 2nd quarter worth about $26,000. CWM LLC raised its holdings 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 in the last quarter. FMR LLC boosted its position in Enviri by 34.4% during the third quarter. FMR LLC now owns 7,069 shares of the company’s stock valued at $73,000 after purchasing an additional 1,809 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new position in Enviri in the first quarter valued at approximately $70,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in shares of Enviri during the 3rd quarter worth approximately $127,000. Institutional investors and hedge funds own 93.43% of the company’s stock.

Enviri Stock Performance

Shares of NYSE:NVRI opened at $7.61 on Wednesday. Enviri Co. has a 52-week low of $6.28 and a 52-week high of $12.79. The company has a debt-to-equity ratio of 2.72, a quick ratio of 0.99 and a current ratio of 1.30. The company has a market capitalization of $609.87 million, a P/E ratio of -6.19 and a beta of 2.17. The company has a 50-day simple moving average of $8.79 and a 200 day simple moving average of $9.49.

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

Analyst Upgrades and Downgrades

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

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.