BlackRock Inc. Raises Holdings in Covia Holdings (CVIA)
BlackRock Inc. grew its holdings in Covia Holdings (NASDAQ:CVIA) by 0.2% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,133,476 shares of the company’s stock after buying an additional 4,811 shares during the quarter. BlackRock Inc.’s holdings in Covia were worth $7,296,000 as of its most recent filing with the SEC.
Other hedge funds have also made changes to their positions in the company. FMR LLC raised its stake in shares of Covia by 443.0% in the 3rd quarter. FMR LLC now owns 1,141,466 shares of the company’s stock valued at $10,239,000 after buying an additional 931,266 shares in the last quarter. MetLife Investment Advisors LLC acquired a new position in shares of Covia in the 3rd quarter valued at $211,000. Virtu Financial LLC acquired a new position in shares of Covia in the 4th quarter valued at $38,000. Jane Street Group LLC acquired a new position in shares of Covia in the 3rd quarter valued at $204,000. Finally, Bank of New York Mellon Corp raised its stake in shares of Covia by 84.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,385,908 shares of the company’s stock valued at $30,372,000 after buying an additional 1,548,743 shares in the last quarter.
A number of brokerages have recently issued reports on CVIA. Barclays began coverage on shares of Covia in a research note on Tuesday, March 12th. They issued an “underweight” rating and a $4.00 price objective for the company. Zacks Investment Research cut shares of Covia from a “hold” rating to a “sell” rating in a research note on Wednesday, January 9th. Finally, Cowen cut shares of Covia from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 17th. Five research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. Covia has a consensus rating of “Hold” and a consensus target price of $12.55.
Covia (NASDAQ:CVIA) last announced its earnings results on Thursday, March 21st. The company reported ($0.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.09). The company had revenue of $441.30 million for the quarter, compared to analyst estimates of $464.57 million. The firm’s revenue was up 31.4% on a year-over-year basis.
Covia Holdings Corporation provides minerals and material solutions for the industrial and energy markets. The company offers various mineral solutions to the glass, ceramics, coatings, polymers, construction, water filtration, sports, and recreation markets. It also offers a range of high-purity silica sand, nepheline syenite, feldspar, clay, kaolin, lime, resin systems, and coated materials.
Further Reading: Depreciation
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