Diameter Capital Partners LP Makes New Investment in Enviri Co. (NYSE:NVRI)

Diameter Capital Partners LP acquired a new stake in Enviri Co. (NYSE:NVRI - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 500,000 shares of the company's stock, valued at approximately $3,850,000. Enviri makes up approximately 0.6% of Diameter Capital Partners LP's investment portfolio, making the stock its 25th largest position. Diameter Capital Partners LP owned approximately 0.62% of Enviri as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Neuberger Berman Group LLC boosted its holdings in Enviri by 3.4% in the fourth quarter. Neuberger Berman Group LLC now owns 4,746,964 shares of the company's stock valued at $36,530,000 after acquiring an additional 155,146 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Enviri by 4.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,468,989 shares of the company's stock valued at $34,411,000 after purchasing an additional 191,777 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Enviri by 26.9% during the 4th quarter. Invesco Ltd. now owns 2,126,739 shares of the company's stock valued at $16,376,000 after purchasing an additional 450,327 shares in the last quarter. Mill Road Capital Management LLC raised its stake in Enviri by 82.6% in the fourth quarter. Mill Road Capital Management LLC now owns 1,795,131 shares of the company's stock worth $13,823,000 after buying an additional 811,859 shares in the last quarter. Finally, Brightline Capital Management LLC raised its stake in Enviri by 10.5% in the fourth quarter. Brightline Capital Management LLC now owns 1,105,000 shares of the company's stock worth $8,508,000 after buying an additional 105,000 shares in the last quarter. Institutional investors own 93.43% of the company's stock.

Insiders Place Their Bets

In related news, SVP Russell C. Hochman bought 40,127 shares of the business's stock in a transaction dated Friday, March 14th. The shares were purchased at an average cost of $6.27 per share, with a total value of $251,596.29. Following the completion of the purchase, the senior vice president now owns 120,357 shares in the company, valued at approximately $754,638.39. The trade was a 50.01 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Tom George Vadaketh purchased 40,297 shares of the stock in a transaction dated Friday, March 14th. The stock was bought at an average cost of $6.20 per share, with a total value of $249,841.40. Following the transaction, the chief financial officer now owns 132,431 shares in the company, valued at $821,072.20. The trade was a 43.74 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 2.50% of the company's stock.

Enviri Stock Up 1.2 %

NVRI stock opened at $6.99 on Wednesday. Enviri Co. has a fifty-two week low of $4.72 and a fifty-two week high of $12.79. The company has a market capitalization of $560.29 million, a price-to-earnings ratio of -4.39 and a beta of 1.79. The business's 50 day moving average price is $6.29 and its two-hundred day moving average price is $7.52. The company has a debt-to-equity ratio of 3.14, a quick ratio of 0.99 and a current ratio of 1.25.

Enviri (NYSE:NVRI - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported ($0.18) earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.03. Enviri had a negative return on equity of 0.90% and a negative net margin of 5.46%. The company had revenue of $548.28 million for the quarter, compared to analysts' expectations of $560.00 million. During the same period in the prior year, the firm earned ($0.03) earnings per share. The firm's revenue for the quarter was down 8.7% on a year-over-year basis. As a group, analysts forecast that Enviri Co. will post -0.13 earnings per share 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.

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