Enersys (ENS) Stake Cut by Bank of New York Mellon Corp
Bank of New York Mellon Corp lowered its position in Enersys (NYSE:ENS) by 4.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 885,718 shares of the industrial products company’s stock after selling 41,935 shares during the period. Bank of New York Mellon Corp owned about 2.04% of Enersys worth $64,170,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in the company. First Interstate Bank increased its position in shares of Enersys by 0.4% in the first quarter. First Interstate Bank now owns 2,375 shares of the industrial products company’s stock worth $187,000 after buying an additional 10 shares during the period. Engineers Gate Manager LP acquired a new position in shares of Enersys during the first quarter worth $205,000. World Asset Management Inc increased its position in shares of Enersys by 0.9% in the first quarter. World Asset Management Inc now owns 2,669 shares of the industrial products company’s stock worth $211,000 after buying an additional 25 shares during the period. Oakbrook Investments LLC acquired a new position in shares of Enersys during the second quarter worth $235,000. Finally, Palouse Capital Management Inc. acquired a new position in shares of Enersys during the second quarter worth $241,000. 94.82% of the stock is currently owned by hedge funds and other institutional investors.
Enersys (ENS) opened at 63.24 on Thursday. The stock has a 50 day moving average price of $69.20 and a 200 day moving average price of $75.83. The firm has a market cap of $2.74 billion, a P/E ratio of 17.04 and a beta of 1.65. Enersys has a 52-week low of $61.33 and a 52-week high of $84.74.
Enersys (NYSE:ENS) last issued its quarterly earnings data on Wednesday, August 9th. The industrial products company reported $1.12 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.13 by $0.01. The company had revenue of $622.60 million for the quarter, compared to the consensus estimate of $615.77 million. Enersys had a net margin of 6.86% and a return on equity of 18.90%. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter last year, the company earned $1.14 EPS. Equities analysts predict that Enersys will post $4.67 earnings per share for the current fiscal year.
Enersys declared that its board has authorized a stock buyback program on Wednesday, August 9th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the industrial products company to purchase up to 3.2% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be given a $0.175 dividend. The ex-dividend date is Thursday, September 14th. This represents a $0.70 annualized dividend and a yield of 1.11%. Enersys’s payout ratio is presently 18.87%.
A number of brokerages have weighed in on ENS. Zacks Investment Research raised Enersys from a “hold” rating to a “buy” rating and set a $83.00 price target on the stock in a research report on Thursday, June 1st. BidaskClub downgraded Enersys from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 27th. ValuEngine downgraded Enersys from a “buy” rating to a “hold” rating in a research report on Saturday, August 26th. Finally, Oppenheimer Holdings, Inc. reissued an “outperform” rating and set a $92.00 price target (down previously from $95.00) on shares of Enersys in a research report on Friday, June 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 stock. The stock currently has an average rating of “Hold” and a consensus target price 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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