TIAA CREF Investment Management LLC Reduces Position in Enersys (ENS)
TIAA CREF Investment Management LLC trimmed its position in Enersys (NYSE:ENS) by 19.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 188,560 shares of the industrial products company’s stock after selling 44,681 shares during the period. TIAA CREF Investment Management LLC owned 0.43% of Enersys worth $13,661,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of ENS. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Enersys by 7.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,699 shares of the industrial products company’s stock worth $123,000 after purchasing an additional 122 shares in the last quarter. World Asset Management Inc boosted its holdings in shares of Enersys by 0.9% during the 1st quarter. World Asset Management Inc now owns 2,669 shares of the industrial products company’s stock valued at $211,000 after buying an additional 25 shares in the last quarter. Riverhead Capital Management LLC boosted its holdings in shares of Enersys by 77.6% during the 2nd quarter. Riverhead Capital Management LLC now owns 3,197 shares of the industrial products company’s stock valued at $232,000 after buying an additional 1,397 shares in the last quarter. Oakbrook Investments LLC bought a new stake in shares of Enersys during the 2nd quarter valued at $235,000. Finally, Palouse Capital Management Inc. bought a new stake in shares of Enersys during the 2nd quarter valued at $241,000. 94.46% of the stock is currently owned by institutional investors.
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Enersys (ENS) opened at 69.17 on Monday. The company has a market cap of $3.00 billion, a PE ratio of 18.64 and a beta of 1.70. The company has a 50-day moving average of $66.29 and a 200-day moving average of $74.35. Enersys has a 52 week low of $61.33 and a 52 week high of $84.74.
Enersys (NYSE:ENS) last released its earnings results on Wednesday, August 9th. The industrial products company reported $1.12 EPS for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.01). The company had revenue of $622.60 million during the quarter, compared to analyst estimates of $615.77 million. Enersys had a return on equity of 18.90% and a net margin of 6.86%. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter last year, the business earned $1.14 earnings per share. On average, equities analysts expect that Enersys will post $4.67 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were paid a dividend of $0.175 per share. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $0.70 dividend on an annualized basis and a yield of 1.01%. Enersys’s payout ratio is 18.87%.
Enersys declared that its Board of Directors has initiated a share buyback program on Wednesday, August 9th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the industrial products company to reacquire up to 3.2% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
Several research analysts recently issued reports on the stock. ValuEngine lowered shares of Enersys from a “buy” rating to a “hold” rating in a research note on Saturday, August 26th. Zacks Investment Research cut shares of Enersys from a “buy” rating to a “sell” rating in a report on Monday, June 5th. BidaskClub cut shares of Enersys from a “sell” rating to a “strong sell” rating in a report on Thursday, July 27th. Sidoti raised shares of Enersys from a “neutral” rating to a “buy” rating and set a $83.00 target price for the company in a research note on Thursday, August 17th. Finally, Oppenheimer Holdings, Inc. reiterated a “buy” rating and set a $82.00 target price (down from $92.00) on shares of Enersys in a report on Wednesday, August 9th. Two investment 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. The stock has an average rating of “Hold” and a consensus price target of $82.67.
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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