Comerica Bank Lowers Stake in EnPro Industries (NPO)
Comerica Bank reduced its stake in EnPro Industries (NYSE:NPO) by 1.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 110,570 shares of the industrial products company’s stock after selling 1,301 shares during the period. Comerica Bank owned about 0.52% of EnPro Industries worth $8,003,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. BlackRock Inc. increased its position in EnPro Industries by 126,215.4% in the first quarter. BlackRock Inc. now owns 2,600,835 shares of the industrial products company’s stock valued at $185,076,000 after buying an additional 2,598,776 shares during the period. Loomis Sayles & Co. L P acquired a new position in EnPro Industries during the first quarter valued at approximately $13,901,000. Norges Bank acquired a new position in EnPro Industries during the fourth quarter valued at approximately $9,859,000. Sound Point Capital Management LP increased its position in EnPro Industries by 68.4% in the first quarter. Sound Point Capital Management LP now owns 331,524 shares of the industrial products company’s stock valued at $23,591,000 after buying an additional 134,681 shares during the period. Finally, Gamco Investors INC. ET AL increased its position in EnPro Industries by 81.5% in the first quarter. Gamco Investors INC. ET AL now owns 210,200 shares of the industrial products company’s stock valued at $14,958,000 after buying an additional 94,400 shares during the period. Institutional investors and hedge funds own 95.55% of the company’s stock.
Shares of EnPro Industries (NYSE NPO) opened at 69.31 on Friday. The stock has a market capitalization of $1.48 billion, a PE ratio of 81.16 and a beta of 1.10. The stock’s 50 day moving average is $72.96 and its 200 day moving average is $69.12. EnPro Industries has a 52-week low of $52.00 and a 52-week high of $77.65.
EnPro Industries (NYSE:NPO) last released its quarterly earnings data on Monday, July 31st. The industrial products company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by $0.35. EnPro Industries had a return on equity of 8.71% and a net margin of 1.56%. The business had revenue of $347 million during the quarter, compared to analyst estimates of $347.13 million. During the same period in the previous year, the company earned $0.17 EPS. EnPro Industries’s revenue was up 10.8% on a year-over-year basis. Equities research analysts expect that EnPro Industries will post $2.61 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders of record on Wednesday, September 6th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.27%. The ex-dividend date of this dividend is Friday, September 1st. EnPro Industries’s payout ratio is currently 103.53%.
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Several equities analysts have commented on NPO shares. BidaskClub upgraded shares of EnPro Industries from a “hold” rating to a “buy” rating in a research note on Saturday, July 8th. Zacks Investment Research upgraded shares of EnPro Industries from a “sell” rating to a “hold” rating in a research note on Saturday, May 6th. FBR & Co restated an “outperform” rating on shares of EnPro Industries in a research note on Tuesday, July 11th. Finally, TheStreet upgraded shares of EnPro Industries from a “c+” rating to a “b-” rating in a research note on Thursday, August 3rd. One analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company. EnPro Industries presently has a consensus rating of “Hold” and a consensus target price of $78.50.
In related news, insider Todd L. Anderson sold 2,148 shares of the firm’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $72.67, for a total transaction of $156,095.16. Following the completion of the sale, the insider now directly owns 9,000 shares of the company’s stock, valued at approximately $654,030. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Stephen E. Macadam sold 26,318 shares of the firm’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $74.08, for a total transaction of $1,949,637.44. Following the sale, the insider now directly owns 245,765 shares of the company’s stock, valued at $18,206,271.20. The disclosure for this sale can be found here. 2.60% of the stock is owned by corporate insiders.
EnPro Industries Company Profile
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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