EVI Industries (NYSEAMERICAN:EVI) Cut to Hold at StockNews.com

StockNews.com cut shares of EVI Industries (NYSEAMERICAN:EVI) from a buy rating to a hold rating in a report published on Saturday morning.

EVI Industries Stock Performance

Shares of EVI stock opened at $19.23 on Friday. EVI Industries has a fifty-two week low of $14.51 and a fifty-two week high of $28.65. The company has a market capitalization of $243.84 million, a P/E ratio of 51.97 and a beta of 0.34. The company has a quick ratio of 0.77, a current ratio of 1.46 and a debt-to-equity ratio of 0.09.

EVI Industries (NYSEAMERICAN:EVI) last released its earnings results on Thursday, September 12th. The industrial products company reported $0.14 earnings per share (EPS) for the quarter. EVI Industries had a return on equity of 4.22% and a net margin of 1.60%. The firm had revenue of $90.15 million during the quarter.

EVI Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, October 7th. Shareholders of record on Thursday, September 26th were issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 6.45%. The ex-dividend date was Thursday, September 26th.

Institutional Trading of EVI Industries

Institutional investors and hedge funds have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. purchased a new stake in EVI Industries during the 2nd quarter valued at approximately $158,000. Renaissance Technologies LLC grew its position in EVI Industries by 18.7% in the 2nd quarter. Renaissance Technologies LLC now owns 13,765 shares of the industrial products company’s stock valued at $260,000 after buying an additional 2,168 shares during the last quarter. Conestoga Capital Advisors LLC grew its position in EVI Industries by 18.3% in the 2nd quarter. Conestoga Capital Advisors LLC now owns 765,651 shares of the industrial products company’s stock valued at $14,486,000 after buying an additional 118,490 shares during the last quarter. Bank of New York Mellon Corp increased its stake in EVI Industries by 7.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 21,499 shares of the industrial products company’s stock valued at $407,000 after buying an additional 1,422 shares during the period. Finally, Raymond James & Associates raised its position in EVI Industries by 2.7% during the 2nd quarter. Raymond James & Associates now owns 188,083 shares of the industrial products company’s stock worth $3,559,000 after buying an additional 4,918 shares during the last quarter. 37.30% of the stock is owned by hedge funds and other institutional investors.

About EVI Industries

EVI Industries, Inc, through its subsidiaries, engages in the distribution, sale, rental, and lease of commercial and industrial laundry and dry-cleaning equipment in the United States, Canada, the Caribbean, and Latin America. The company sells and/or leases commercial laundry equipment specializing in washing, drying, finishing, material handling, water heating, power generation, and water reuse applications.