Retirement Systems of Alabama Has $6.89 Million Position in Enersys (ENS)
Retirement Systems of Alabama increased its position in shares of Enersys (NYSE:ENS) by 4.0% during the second quarter, Holdings Channel reports. The firm owned 95,127 shares of the industrial products company’s stock after buying an additional 3,654 shares during the period. Retirement Systems of Alabama’s holdings in Enersys were worth $6,892,000 as of its most recent filing with the SEC.
Several other hedge funds also recently added to or reduced their stakes in ENS. State Treasurer State of Michigan raised its stake in Enersys by 0.6% in the first quarter. State Treasurer State of Michigan now owns 17,600 shares of the industrial products company’s stock worth $1,389,000 after buying an additional 100 shares during the period. Great West Life Assurance Co. Can raised its stake in Enersys by 4.2% in the first quarter. Great West Life Assurance Co. Can now owns 26,019 shares of the industrial products company’s stock worth $2,053,000 after buying an additional 1,050 shares during the period. Canada Pension Plan Investment Board bought a new stake in Enersys during the first quarter worth $5,178,000. Wells Fargo & Company MN raised its stake in Enersys by 28.9% in the first quarter. Wells Fargo & Company MN now owns 533,158 shares of the industrial products company’s stock worth $42,087,000 after buying an additional 119,632 shares during the period. Finally, Oregon Public Employees Retirement Fund raised its stake in Enersys by 1.3% in the first quarter. Oregon Public Employees Retirement Fund now owns 15,200 shares of the industrial products company’s stock worth $1,200,000 after buying an additional 200 shares during the period. 97.52% of the stock is owned by hedge funds and other institutional investors.
Shares of Enersys (NYSE:ENS) opened at 63.48 on Wednesday. The stock has a market cap of $2.76 billion, a price-to-earnings ratio of 17.11 and a beta of 1.65. The stock’s 50 day moving average price is $71.47 and its 200-day moving average price is $76.71. Enersys has a 1-year low of $62.31 and a 1-year high of $84.74.
Enersys (NYSE:ENS) last posted its quarterly earnings data on Wednesday, August 9th. The industrial products company reported $1.12 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.13 by $0.01. Enersys had a net margin of 6.86% and a return on equity of 18.90%. The business had revenue of $622.60 million for the quarter, compared to analysts’ expectations of $615.77 million. During the same quarter in the previous year, the firm earned $1.14 EPS. Enersys’s revenue was up 3.7% compared to the same quarter last year. On average, equities research analysts forecast that Enersys will post $4.67 earnings per share for the current year.
Enersys declared that its Board of Directors has initiated a stock buyback plan on Wednesday, August 9th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the industrial products company to purchase up to 3.2% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be issued a $0.175 dividend. This represents a $0.70 annualized dividend and a dividend yield of 1.10%. The ex-dividend date is Thursday, September 14th. Enersys’s dividend payout ratio is 18.87%.
A number of research firms have recently weighed in on ENS. Zacks Investment Research raised Enersys from a “hold” rating to a “buy” rating and set a $94.00 price objective for the company in a research note on Monday, May 8th. Oppenheimer Holdings, Inc. reissued a “buy” rating on shares of Enersys in a research note on Thursday, May 4th. ValuEngine raised Enersys from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Finally, BidaskClub raised Enersys from a “strong sell” rating to a “sell” rating in a research note on Wednesday, August 2nd. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $82.50.
In other news, VP Kerry M. Kane sold 4,413 shares of the business’s stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $82.16, for a total value of $362,572.08. Following the completion of the transaction, the vice president now directly owns 17,210 shares of the company’s stock, valued at approximately $1,413,973.60. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Holger P. Aschke sold 3,000 shares of the business’s stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $81.00, for a total value of $243,000.00. Following the completion of the transaction, the insider now directly owns 28,928 shares of the company’s stock, valued at $2,343,168. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by corporate insiders.
Enersys Company Profile
EnerSys is a manufacturer, marketer and distributor of industrial batteries. The Company manufactures, markets and distributes related products, such as chargers, power equipment, outdoor cabinet enclosures and battery accessories, and provides related after-market and customer-support services for industrial batteries.
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