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

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

Chicago Rivet & Machine Price Performance

Shares of NYSEAMERICAN:CVR opened at $17.00 on Monday. Chicago Rivet & Machine has a 1-year low of $14.73 and a 1-year high of $31.22. The firm has a market cap of $16.49 million, a price-to-earnings ratio of -3.94 and a beta of 0.10. The stock’s 50 day moving average price is $24.94.

Chicago Rivet & Machine Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Tuesday, March 5th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 2.35%. The ex-dividend date was Monday, March 4th. Chicago Rivet & Machine’s payout ratio is presently -9.26%.

Institutional Trading of Chicago Rivet & Machine

Several institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP boosted its stake in Chicago Rivet & Machine by 0.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 68,710 shares of the company’s stock valued at $1,771,000 after buying an additional 576 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Chicago Rivet & Machine by 1.0% in the second quarter. Renaissance Technologies LLC now owns 49,210 shares of the company’s stock worth $1,402,000 after purchasing an additional 500 shares in the last quarter. Vanguard Group Inc. boosted its stake in Chicago Rivet & Machine by 3.3% in the fourth quarter. Vanguard Group Inc. now owns 41,282 shares of the company’s stock worth $701,000 after purchasing an additional 1,300 shares in the last quarter. Morgan Stanley boosted its stake in Chicago Rivet & Machine by 8.6% in the fourth quarter. Morgan Stanley now owns 12,696 shares of the company’s stock worth $363,000 after purchasing an additional 1,005 shares in the last quarter. Finally, Cannell Capital LLC acquired a new position in Chicago Rivet & Machine in the third quarter worth $202,000. Institutional investors and hedge funds own 19.87% of the company’s stock.

Chicago Rivet & Machine Company Profile

Chicago Rivet & Machine Co operates in the fastener industry in North America. The company 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 manufactures and sells automatic rivet setting machines and assembly equipment, as well as parts and tools for related machines.