EnPro Industries (NPO) Downgraded to “Hold” at Zacks Investment Research
Zacks Investment Research downgraded shares of EnPro Industries (NYSE:NPO) from a buy rating to a hold rating in a report published on Wednesday morning.
According to Zacks, “EnPro Industries, Inc. is a leader in sealing products, metal polymer bearings, compressor systems and other engineered products for use in critical applications by industries worldwide. “
Several other equities research analysts have also recently commented on NPO. BidaskClub raised EnPro Industries from a sell rating to a hold rating in a report on Tuesday, June 13th. FBR & Co reissued an outperform rating on shares of EnPro Industries in a report on Tuesday, July 11th. Finally, TheStreet raised EnPro Industries from a c+ rating to a b- rating in a report on Thursday, August 3rd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. EnPro Industries presently has a consensus rating of Hold and a consensus target price of $83.33.
EnPro Industries (NYSE:NPO) traded up 0.62% during midday trading on Wednesday, hitting $82.30. The company had a trading volume of 83,964 shares. The company’s 50 day moving average is $73.44 and its 200 day moving average is $70.93. EnPro Industries has a 12-month low of $52.00 and a 12-month high of $82.72. The stock has a market cap of $1.75 billion, a price-to-earnings ratio of 96.37 and a beta of 1.15.
EnPro Industries (NYSE:NPO) last released its quarterly earnings results on Monday, July 31st. The industrial products company reported $0.46 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.81 by ($0.35). The business had revenue of $347.00 million for the quarter, compared to the consensus estimate of $347.13 million. EnPro Industries had a net margin of 1.56% and a return on equity of 8.71%. The business’s quarterly revenue was up 10.8% on a year-over-year basis. During the same period last year, the firm posted $0.17 EPS. On average, equities analysts anticipate that EnPro Industries will post $2.61 EPS for the current fiscal year.
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The company also recently announced a quarterly dividend, which was paid on Wednesday, September 20th. Investors of record on Wednesday, September 6th were issued a dividend of $0.22 per share. The ex-dividend date was Friday, September 1st. This represents a $0.88 annualized dividend and a yield of 1.07%. EnPro Industries’s payout ratio is 103.53%.
In other EnPro Industries news, insider Stephen E. Macadam sold 26,318 shares of the company’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $74.08, for a total value of $1,949,637.44. Following the transaction, the insider now owns 245,765 shares of the company’s stock, valued at $18,206,271.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Todd L. Anderson sold 2,148 shares of the company’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $72.67, for a total value of $156,095.16. Following the completion of the transaction, the insider now directly owns 9,000 shares in the company, valued at approximately $654,030. The disclosure for this sale can be found here. 2.60% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of America Corp DE increased its holdings in shares of EnPro Industries by 30.3% in the first quarter. Bank of America Corp DE now owns 110,929 shares of the industrial products company’s stock valued at $7,894,000 after buying an additional 25,769 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of EnPro Industries by 4.7% in the first quarter. Vanguard Group Inc. now owns 1,902,748 shares of the industrial products company’s stock valued at $135,399,000 after buying an additional 85,493 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of EnPro Industries by 31.1% in the first quarter. Renaissance Technologies LLC now owns 144,300 shares of the industrial products company’s stock valued at $10,268,000 after buying an additional 34,200 shares in the last quarter. Sei Investments Co. increased its holdings in shares of EnPro Industries by 22.4% in the second quarter. Sei Investments Co. now owns 22,205 shares of the industrial products company’s stock valued at $1,584,000 after buying an additional 4,066 shares in the last quarter. Finally, American Century Companies Inc. increased its holdings in shares of EnPro Industries by 19.4% in the second quarter. American Century Companies Inc. now owns 463,864 shares of the industrial products company’s stock valued at $33,106,000 after buying an additional 75,506 shares in the last quarter. 94.47% of the stock is currently owned by institutional investors.
About EnPro Industries
EnPro Industries, Inc is engaged in the designing, developing, manufacturing and marketing engineered industrial products. It operates through three segments. The Sealing Products segment includes three operating divisions: Garlock, which designs, manufactures and sells sealing products; Technetics, which designs, manufactures and sells metal seals and elastomeric seals, among others, and Stemco LP (Stemco), which designs, manufactures and sells heavy-duty truck wheel-end components and systems.
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