California Public Employees Retirement System Raises Stock Position in Covia Holdings (NASDAQ:CVIA)

California Public Employees Retirement System grew its stake in Covia Holdings (NASDAQ:CVIA) by 9.8% in the 3rd quarter, Holdings Channel reports. The firm owned 86,109 shares of the company’s stock after purchasing an additional 7,690 shares during the period. California Public Employees Retirement System’s holdings in Covia were worth $174,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of CVIA. Clearstead Advisors LLC boosted its stake in shares of Covia by 7.4% during the 2nd quarter. Clearstead Advisors LLC now owns 3,099,701 shares of the company’s stock valued at $6,075,000 after purchasing an additional 212,593 shares in the last quarter. BlackRock Inc. raised its stake in Covia by 28.3% in the second quarter. BlackRock Inc. now owns 2,721,371 shares of the company’s stock worth $5,332,000 after buying an additional 600,107 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Covia by 3.4% in the second quarter. Bank of New York Mellon Corp now owns 1,439,760 shares of the company’s stock worth $2,822,000 after buying an additional 47,308 shares in the last quarter. Northern Trust Corp raised its stake in Covia by 3.6% in the second quarter. Northern Trust Corp now owns 425,674 shares of the company’s stock worth $834,000 after buying an additional 14,722 shares in the last quarter. Finally, Morgan Stanley lifted its holdings in Covia by 273.8% in the second quarter. Morgan Stanley now owns 307,984 shares of the company’s stock worth $602,000 after buying an additional 225,587 shares during the period.

Shares of Covia stock opened at $1.73 on Friday. Covia Holdings has a 12 month low of $1.28 and a 12 month high of $7.34. The business has a fifty day simple moving average of $1.51 and a two-hundred day simple moving average of $1.87.

Covia (NASDAQ:CVIA) last released its earnings results on Wednesday, November 6th. The company reported ($0.23) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.16) by ($0.07). The firm had revenue of $408.96 million for the quarter, compared to analysts’ expectations of $445.41 million. Covia’s revenue for the quarter was down 21.9% on a year-over-year basis. During the same quarter in the previous year, the company earned ($2.20) earnings per share.

Several analysts have weighed in on the company. Barclays raised Covia from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $2.00 to $3.00 in a research report on Tuesday, August 13th. Zacks Investment Research raised Covia from a “sell” rating to a “hold” rating in a research report on Tuesday, October 29th. Finally, Morgan Stanley lowered their target price on Covia from $2.50 to $2.00 and set an “underweight” rating for the company in a research note on Monday, October 7th. Three research analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $2.17.

Covia Profile

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.

See Also: What does it mean to hold a stock in street name?

Want to see what other hedge funds are holding CVIA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Covia Holdings (NASDAQ:CVIA).

Institutional Ownership by Quarter for Covia (NASDAQ:CVIA)

Receive News & Ratings for Covia Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Covia and related companies with MarketBeat.com's FREE daily email newsletter.