Wolverine Asset Management LLC Takes Position in Enviri Co. (NYSE:NVRI)

Wolverine Asset Management LLC bought a new stake in Enviri Co. (NYSE:NVRI) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 229,543 shares of the company’s stock, valued at approximately $2,066,000.

Several other hedge funds have also recently added to or reduced their stakes in NVRI. Federated Hermes Inc. acquired a new stake in Enviri in the fourth quarter valued at approximately $3,511,000. Legato Capital Management LLC acquired a new stake in Enviri in the fourth quarter valued at approximately $1,212,000. New York State Teachers Retirement System acquired a new stake in Enviri in the fourth quarter valued at approximately $1,182,000. Strs Ohio acquired a new stake in Enviri in the fourth quarter valued at approximately $709,000. Finally, Venture Visionary Partners LLC acquired a new stake in Enviri in the fourth quarter valued at approximately $632,000. Institutional investors and hedge funds own 93.43% of the company’s stock.

Enviri Stock Performance

Shares of NYSE:NVRI opened at $8.00 on Thursday. The firm’s 50 day moving average price is $8.28 and its 200 day moving average price is $7.75. Enviri Co. has a fifty-two week low of $5.64 and a fifty-two week high of $10.01. The company has a quick ratio of 1.13, a current ratio of 1.26 and a debt-to-equity ratio of 2.44.

Enviri (NYSE:NVRI) last announced its earnings results on Thursday, February 29th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.01. The business had revenue of $529.00 million for the quarter, compared to analyst estimates of $493.30 million. Enviri had a negative net margin of 4.16% and a negative return on equity of 1.99%. The company’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same period last year, the firm posted $0.01 earnings per share. Equities research analysts predict that Enviri Co. will post -0.13 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.