Diamond Hill Capital Management Inc. Sells 180,065 Shares of Energy Recovery, Inc. (NASDAQ:ERII)

Diamond Hill Capital Management Inc. trimmed its holdings in shares of Energy Recovery, Inc. (NASDAQ:ERII - Free Report) by 8.6% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,921,009 shares of the industrial products company's stock after selling 180,065 shares during the quarter. Diamond Hill Capital Management Inc. owned 3.32% of Energy Recovery worth $33,406,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of ERII. Vanguard Group Inc. grew its stake in shares of Energy Recovery by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 3,009,429 shares of the industrial products company's stock worth $47,519,000 after acquiring an additional 53,720 shares in the last quarter. Raymond James & Associates grew its stake in shares of Energy Recovery by 10.1% during the 3rd quarter. Raymond James & Associates now owns 450,909 shares of the industrial products company's stock worth $7,841,000 after acquiring an additional 41,286 shares in the last quarter. Anchor Capital Management Company LLC grew its stake in shares of Energy Recovery by 18.2% during the 2nd quarter. Anchor Capital Management Company LLC now owns 420,081 shares of the industrial products company's stock worth $5,583,000 after acquiring an additional 64,581 shares in the last quarter. Millennium Management LLC grew its stake in shares of Energy Recovery by 130.3% during the 2nd quarter. Millennium Management LLC now owns 356,595 shares of the industrial products company's stock worth $4,739,000 after acquiring an additional 201,770 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in shares of Energy Recovery by 82.3% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 273,885 shares of the industrial products company's stock valued at $3,640,000 after buying an additional 123,664 shares in the last quarter. 83.58% of the stock is owned by institutional investors.

Insider Buying and Selling at Energy Recovery

In other news, CEO David W. Moon sold 2,550 shares of Energy Recovery stock in a transaction on Monday, October 28th. The stock was sold at an average price of $17.97, for a total transaction of $45,823.50. Following the completion of the sale, the chief executive officer now owns 87,101 shares of the company's stock, valued at approximately $1,565,204.97. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO David W. Moon sold 2,550 shares of Energy Recovery stock in a transaction on Monday, October 28th. The stock was sold at an average price of $17.97, for a total transaction of $45,823.50. Following the completion of the sale, the chief executive officer now owns 87,101 shares of the company's stock, valued at approximately $1,565,204.97. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Rodney Clemente sold 6,505 shares of Energy Recovery stock in a transaction on Monday, October 28th. The stock was sold at an average price of $17.98, for a total value of $116,959.90. Following the sale, the senior vice president now directly owns 133,823 shares of the company's stock, valued at $2,406,137.54. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,581 shares of company stock valued at $351,936 in the last quarter. 4.10% of the stock is currently owned by insiders.

Energy Recovery Price Performance

Energy Recovery stock traded up $0.32 during mid-day trading on Monday, hitting $20.03. 125,202 shares of the company's stock traded hands, compared to its average volume of 409,669. The firm has a 50 day simple moving average of $17.40 and a two-hundred day simple moving average of $15.51. Energy Recovery, Inc. has a fifty-two week low of $12.26 and a fifty-two week high of $20.27. The stock has a market cap of $1.16 billion, a price-to-earnings ratio of 57.97 and a beta of 1.22.

Energy Recovery (NASDAQ:ERII - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.01. Energy Recovery had a return on equity of 8.90% and a net margin of 14.35%. The business had revenue of $38.60 million during the quarter, compared to the consensus estimate of $37.37 million. During the same quarter last year, the firm posted $0.17 EPS. The company's quarterly revenue was up 4.3% on a year-over-year basis. On average, research analysts anticipate that Energy Recovery, Inc. will post 0.41 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Energy Recovery from a "sell" rating to a "hold" rating in a research note on Thursday, August 1st.

Energy Recovery Company Profile

Energy Recovery, Inc, together with its subsidiaries, designs, manufactures, and sells energy efficiency technology solutions in the Americas, the Middle East, Africa, Asia, and Europe. The company operates through Water and Emerging Technologies segments. The company offers high and low pressure, and ultra pressure exchangers; AT and LPT hydraulic turbochargers; and high-pressure feed and circulation booster pumps for use in seawater and brackish desalination, and wastewater treatment.