Energy Recovery, Inc. (NASDAQ:ERII) Position Lessened by Diamond Hill Capital Management Inc.

Diamond Hill Capital Management Inc. trimmed its position in shares of Energy Recovery, Inc. (NASDAQ:ERII - Free Report) by 26.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,184,674 shares of the industrial products company's stock after selling 422,308 shares during the quarter. Diamond Hill Capital Management Inc. owned approximately 2.16% of Energy Recovery worth $18,824,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Schroder Investment Management Group acquired a new stake in shares of Energy Recovery during the 4th quarter worth about $160,000. Nebula Research & Development LLC boosted its position in Energy Recovery by 6.3% during the fourth quarter. Nebula Research & Development LLC now owns 11,577 shares of the industrial products company's stock worth $170,000 after acquiring an additional 687 shares during the last quarter. Juncture Wealth Strategies LLC acquired a new position in Energy Recovery in the 1st quarter valued at $178,000. Polymer Capital Management US LLC purchased a new position in shares of Energy Recovery during the 4th quarter worth $211,000. Finally, Two Sigma Investments LP acquired a new stake in shares of Energy Recovery during the fourth quarter worth $229,000. Hedge funds and other institutional investors own 83.58% of the company's stock.

Energy Recovery Stock Down 0.2%

Shares of NASDAQ ERII traded down $0.03 during midday trading on Friday, hitting $13.88. The stock had a trading volume of 320,398 shares, compared to its average volume of 399,665. Energy Recovery, Inc. has a 1-year low of $10.86 and a 1-year high of $20.27. The company has a market capitalization of $756.46 million, a price-to-earnings ratio of 37.51 and a beta of 1.01. The company has a fifty day moving average price of $12.81 and a 200 day moving average price of $14.20.

Energy Recovery (NASDAQ:ERII - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The industrial products company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.16). Energy Recovery had a return on equity of 9.96% and a net margin of 15.21%. The business had revenue of $8.07 million for the quarter, compared to analysts' expectations of $21.97 million. During the same quarter in the prior year, the firm earned ($0.08) earnings per share. Energy Recovery's quarterly revenue was down 33.1% compared to the same quarter last year. On average, research analysts forecast that Energy Recovery, Inc. will post 0.36 EPS for the current year.

Insider Buying and Selling at Energy Recovery

In other news, CEO David W. Moon acquired 4,200 shares of the company's stock in a transaction dated Tuesday, May 13th. The shares were bought at an average price of $12.20 per share, for a total transaction of $51,240.00. Following the completion of the purchase, the chief executive officer directly owned 36,950 shares of the company's stock, valued at approximately $450,790. This trade represents a 12.82% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Pamela L. Tondreau bought 4,200 shares of the company's stock in a transaction dated Wednesday, May 14th. The shares were acquired at an average cost of $12.28 per share, for a total transaction of $51,576.00. Following the completion of the transaction, the director owned 41,043 shares of the company's stock, valued at approximately $504,008.04. The trade was a 11.40% increase in their position. The disclosure for this purchase can be found here. 3.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

ERII has been the topic of a number of research analyst reports. B. Riley lowered Energy Recovery from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $20.00 to $12.50 in a research note on Thursday, May 8th. Wall Street Zen cut shares of Energy Recovery from a "buy" rating to a "hold" rating in a research report on Thursday, May 8th. Finally, Fearnley Fonds raised shares of Energy Recovery from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 20th. Two research analysts have rated the stock with a hold rating, two have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $18.17.

Energy Recovery Profile

Energy Recovery, Inc, together with its subsidiaries, designs, manufactures, and sells energy efficiency technology solutions in the Americas, the Middle East, Africa, Asia, and Europe. The company operates through Water and Emerging Technologies segments. The company offers high and low pressure, and ultra pressure exchangers; AT and LPT hydraulic turbochargers; and high-pressure feed and circulation booster pumps for use in seawater and brackish desalination, and wastewater treatment.