EnPro Industries (NPO) Holdings Raised by State Street Corp
State Street Corp raised its position in shares of EnPro Industries (NYSE:NPO) by 3.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 529,442 shares of the industrial products company’s stock after acquiring an additional 19,542 shares during the period. State Street Corp owned approximately 2.48% of EnPro Industries worth $37,786,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Bank of America Corp DE boosted its holdings in EnPro Industries by 30.3% during 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 acquiring an additional 25,769 shares during the period. Vanguard Group Inc. boosted its holdings in EnPro Industries by 4.7% during 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 acquiring an additional 85,493 shares during the period. Renaissance Technologies LLC boosted its holdings in EnPro Industries by 31.1% during the first quarter. Renaissance Technologies LLC now owns 144,300 shares of the industrial products company’s stock valued at $10,268,000 after acquiring an additional 34,200 shares during the period. American Century Companies Inc. lifted its stake 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 during the period. Finally, Sei Investments Co. lifted its stake 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 during the period. Institutional investors own 94.51% of the company’s stock.
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EnPro Industries (NYSE:NPO) opened at $83.16 on Wednesday. EnPro Industries has a 52-week low of $54.82 and a 52-week high of $84.98. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.27 and a quick ratio of 1.59. The stock has a market cap of $1,796.27, a PE ratio of 47.32, a P/E/G ratio of 2.21 and a beta of 1.17.
EnPro Industries (NYSE:NPO) last posted its quarterly earnings results on Monday, October 30th. The industrial products company reported $0.73 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.89 by ($0.16). EnPro Industries had a return on equity of 7.92% and a net margin of 40.74%. The business had revenue of $343.70 million during the quarter, compared to analyst estimates of $324.00 million. During the same period last year, the company earned $0.28 EPS. The business’s revenue for the quarter was up 17.4% on a year-over-year basis. analysts expect that EnPro Industries will post 2.51 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 20th. Investors of record on Wednesday, December 6th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.06%. The ex-dividend date of this dividend is Tuesday, December 5th. EnPro Industries’s dividend payout ratio (DPR) is presently 3.82%.
EnPro Industries announced that its board has authorized a stock buyback program on Monday, October 30th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the industrial products company to reacquire shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its stock is undervalued.
In related news, insider Stephen E. Macadam sold 25,000 shares of the stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $84.06, for a total value of $2,101,500.00. Following the completion of the transaction, the insider now owns 194,447 shares of the company’s stock, valued at $16,345,214.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.60% of the company’s stock.
Several equities research analysts recently weighed in on the stock. Zacks Investment Research cut shares of EnPro Industries from a “hold” rating to a “strong sell” rating in a research note on Friday, November 3rd. FBR & Co set a $100.00 target price on shares of EnPro Industries and gave the company a “buy” rating in a research note on Tuesday, October 31st. KeyCorp reiterated a “hold” rating on shares of EnPro Industries in a research note on Friday, October 20th. BidaskClub cut shares of EnPro Industries from a “hold” rating to a “sell” rating in a research note on Saturday, August 26th. Finally, TheStreet upgraded shares of EnPro Industries from a “c+” rating to a “b-” rating in a research note on Thursday, August 3rd. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $88.33.
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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