NorthCoast Asset Management LLC Takes $1.52 Million Position in EnPro Industries, Inc. (NPO)
NorthCoast Asset Management LLC bought a new stake in shares of EnPro Industries, Inc. (NYSE:NPO) during the fourth quarter, HoldingsChannel.com reports. The fund bought 16,295 shares of the industrial products company’s stock, valued at approximately $1,524,000.
Other large investors have also made changes to their positions in the company. SG Americas Securities LLC purchased a new position in EnPro Industries in the 3rd quarter valued at $200,000. Cubist Systematic Strategies LLC lifted its holdings in EnPro Industries by 64.2% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 2,489 shares of the industrial products company’s stock valued at $200,000 after purchasing an additional 973 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in EnPro Industries in the 4th quarter valued at $210,000. Amalgamated Bank lifted its holdings in EnPro Industries by 3.4% in the 2nd quarter. Amalgamated Bank now owns 2,950 shares of the industrial products company’s stock valued at $211,000 after purchasing an additional 98 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC purchased a new position in EnPro Industries in the 3rd quarter valued at $306,000. Hedge funds and other institutional investors own 92.72% of the company’s stock.
A number of research analysts have weighed in on NPO shares. Zacks Investment Research upgraded EnPro Industries from a “hold” rating to a “buy” rating and set a $105.00 price objective on the stock in a report on Tuesday, January 2nd. B. Riley set a $100.00 price objective on EnPro Industries and gave the company a “buy” rating in a report on Tuesday, November 21st. FBR & Co set a $100.00 price objective on EnPro Industries and gave the company a “buy” rating in a report on Tuesday, October 31st. KeyCorp restated a “hold” rating on shares of EnPro Industries in a report on Friday, October 20th. Finally, Oppenheimer raised their price objective on EnPro Industries from $85.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, December 14th. One research analyst has rated the stock with a sell rating and six have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $99.17.
EnPro Industries announced that its Board of Directors has initiated a share repurchase program on Monday, October 30th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the industrial products company to repurchase shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
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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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