EnPro Industries Inc. (NPO) Rating Lowered to Hold at Zacks Investment Research
EnPro Industries Inc. (NYSE:NPO) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report issued on Thursday.
According to Zacks, “EnPro Industries, Inc. is a leader in sealing products, metal polymer bearings, compressor systems and other engineered products for use in critical applications by industries worldwide. “
EnPro Industries (NYSE:NPO) opened at 57.20 on Thursday. EnPro Industries has a 52 week low of $37.53 and a 52 week high of $63.82. The company has a 50-day moving average of $54.98 and a 200-day moving average of $52.02. The stock’s market cap is $1.23 billion.
EnPro Industries (NYSE:NPO) last released its earnings results on Tuesday, August 2nd. The company reported $0.60 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.66 by $0.06. EnPro Industries had a negative net margin of 2.04% and a positive return on equity of 7.48%. The firm earned $313.20 million during the quarter, compared to analysts’ expectations of $311.87 million. During the same quarter last year, the company posted $0.69 earnings per share. EnPro Industries’s revenue for the quarter was up 5.0% on a year-over-year basis. On average, analysts predict that EnPro Industries will post ($0.92) EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date was Tuesday, August 30th. EnPro Industries’s dividend payout ratio is currently -71.79%.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. American Century Companies Inc. increased its position in EnPro Industries by 58.2% in the second quarter. American Century Companies Inc. now owns 452,044 shares of the company’s stock worth $20,066,000 after buying an additional 166,383 shares in the last quarter. Hotchkis & Wiley Capital Management LLC increased its position in EnPro Industries by 11.0% in the second quarter. Hotchkis & Wiley Capital Management LLC now owns 1,371,120 shares of the company’s stock worth $60,864,000 after buying an additional 136,300 shares in the last quarter. Advisory Research Inc. increased its position in EnPro Industries by 110.3% in the second quarter. Advisory Research Inc. now owns 210,460 shares of the company’s stock worth $9,342,000 after buying an additional 110,380 shares in the last quarter. Highbridge Capital Management LLC bought a new position in EnPro Industries during the second quarter worth approximately $1,400,000. Finally, Comerica Bank increased its position in EnPro Industries by 51.6% in the second quarter. Comerica Bank now owns 86,386 shares of the company’s stock worth $4,356,000 after buying an additional 29,401 shares in the last quarter. 94.31% of the stock is owned by institutional investors.
About EnPro Industries
EnPro Industries, Inc (EnPro) is engaged in the designing, developing, manufacturing, and marketing engineered industrial products. The Company operates through three segments: Sealing Products, Engineered Products and Power Systems. Its Sealing Products segment designs, manufactures and sells sealing products, including metallic, non-metallic and composite material gaskets, resilient metal seals, elastomeric seals, hydraulic components, expansion joints and casing end seals.
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