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

StockNews.com assumed coverage on shares of Chicago Rivet & Machine (NYSEAMERICAN:CVR) in a research note released on Monday. The brokerage issued a sell rating on the stock.

Chicago Rivet & Machine Stock Up 0.2 %

Chicago Rivet & Machine stock opened at $15.53 on Monday. The firm has a market cap of $15.06 million, a price-to-earnings ratio of -3.32 and a beta of 0.14. Chicago Rivet & Machine has a fifty-two week low of $14.73 and a fifty-two week high of $28.00.

Chicago Rivet & Machine (NYSEAMERICAN:CVR) last announced its quarterly earnings data on Friday, May 10th. The company reported ($0.72) EPS for the quarter. The business had revenue of $7.85 million during the quarter. Chicago Rivet & Machine had a negative net margin of 14.75% and a negative return on equity of 16.82%.

Chicago Rivet & Machine Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Wednesday, June 5th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date is Wednesday, June 5th. Chicago Rivet & Machine’s dividend payout ratio is currently -8.55%.

Institutional Investors Weigh In On Chicago Rivet & Machine

A hedge fund recently bought a new stake in Chicago Rivet & Machine stock. Cannell Capital LLC bought a new stake in Chicago Rivet & Machine Co. (NYSEAMERICAN:CVR) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 11,486 shares of the company’s stock, valued at approximately $202,000. Cannell Capital LLC owned about 1.18% of Chicago Rivet & Machine at the end of the most recent quarter. 19.87% of the stock is currently owned by hedge funds and other institutional investors.

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.