StockNews.com Initiates Coverage on Chicago Rivet & Machine (NYSEAMERICAN:CVR)

StockNews.com began coverage on shares of Chicago Rivet & Machine (NYSEAMERICAN:CVR) in a research report sent to investors on Thursday. The brokerage issued a sell rating on the stock.

Chicago Rivet & Machine Trading Up 3.3 %

Shares of NYSEAMERICAN CVR opened at $16.19 on Thursday. Chicago Rivet & Machine has a 1-year low of $14.73 and a 1-year high of $30.48. The firm has a market capitalization of $15.70 million, a price-to-earnings ratio of -3.55 and a beta of 0.11.

Chicago Rivet & Machine (NYSEAMERICAN:CVR) last released its quarterly earnings results on Thursday, March 28th. The company reported ($1.60) earnings per share (EPS) for the quarter. Chicago Rivet & Machine had a negative return on equity of 15.66% and a negative net margin of 13.97%. The business had revenue of $6.78 million during the quarter.

Chicago Rivet & Machine Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Tuesday, March 5th were paid a $0.10 dividend. The ex-dividend date of this dividend was Monday, March 4th. This represents a $0.40 annualized dividend and a dividend yield of 2.47%. Chicago Rivet & Machine’s payout ratio is -8.77%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CVR. Vanguard Group Inc. grew its stake in shares of Chicago Rivet & Machine by 91.7% in the first quarter. Vanguard Group Inc. now owns 28,479 shares of the company’s stock worth $746,000 after purchasing an additional 13,626 shares in the last quarter. Cannell Capital LLC bought a new position in Chicago Rivet & Machine during the third quarter valued at about $202,000. BlackRock Inc. boosted its stake in Chicago Rivet & Machine by 206,600.0% during the second quarter. BlackRock Inc. now owns 2,067 shares of the company’s stock valued at $53,000 after buying an additional 2,066 shares in the last quarter. Advisor Group Holdings Inc. bought a new position in Chicago Rivet & Machine during the fourth quarter valued at about $43,000. Finally, Captrust Financial Advisors bought a new position in Chicago Rivet & Machine during the second quarter valued at about $41,000. Institutional investors own 19.87% of the company’s stock.

About Chicago Rivet & Machine

Chicago Rivet & Machine Co operates in the fastener industry in North America. It operates in two segments, Fasteners and Assembly Equipment. The Fastener segment manufactures and sells rivets, cold-formed fasteners and parts, and screw machine products. The Assembly Equipment segment engages in the manufacture and sale of automatic rivet setting machines, as well as parts and tools for related machines.