Pinebridge Investments L.P. lessened its position in shares of EnPro Industries (NYSE:NPO) by 4.4% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 24,376 shares of the industrial products company’s stock after selling 1,117 shares during the quarter. Pinebridge Investments L.P. owned 0.11% of EnPro Industries worth $1,963,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of NPO. Vanguard Group Inc. increased its position in EnPro Industries by 1.0% in the second quarter. Vanguard Group Inc. now owns 1,922,369 shares of the industrial products company’s stock worth $137,199,000 after buying an additional 19,621 shares in the last quarter. Silver Point Capital L.P. grew its position in shares of EnPro Industries by 3.4% during the second quarter. Silver Point Capital L.P. now owns 1,850,600 shares of the industrial products company’s stock worth $132,077,000 after purchasing an additional 60,600 shares in the last quarter. Daruma Capital Management LLC grew its position in shares of EnPro Industries by 1.1% during the second quarter. Daruma Capital Management LLC now owns 818,894 shares of the industrial products company’s stock worth $58,444,000 after purchasing an additional 9,234 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of EnPro Industries by 3.2% during the third quarter. Dimensional Fund Advisors LP now owns 723,406 shares of the industrial products company’s stock worth $58,256,000 after purchasing an additional 22,349 shares in the last quarter. Finally, State Street Corp grew its position in shares of EnPro Industries by 3.8% during the second quarter. State Street Corp now owns 529,442 shares of the industrial products company’s stock worth $37,786,000 after purchasing an additional 19,542 shares in the last quarter. Institutional investors own 92.70% of the company’s stock.
Several research firms recently issued reports on NPO. Zacks Investment Research cut EnPro Industries from a “hold” rating to a “strong sell” rating in a research report on Friday, November 3rd. B. Riley reiterated a “buy” rating on shares of EnPro Industries in a research report on Wednesday, November 1st. KeyCorp reiterated a “hold” rating on shares of EnPro Industries in a research report on Friday, October 20th. FBR & Co set a $100.00 target price on EnPro Industries and gave the stock a “buy” rating in a research report on Tuesday, October 31st. Finally, BidaskClub cut EnPro Industries from a “hold” rating to a “sell” rating in a research report on Saturday, August 26th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. EnPro Industries presently has a consensus rating of “Hold” and a consensus price target of $91.25.
Shares of EnPro Industries (NYSE:NPO) traded down $0.04 during trading on Thursday, reaching $87.21. The company had a trading volume of 136,600 shares, compared to its average volume of 113,364. EnPro Industries has a 52 week low of $61.36 and a 52 week high of $89.58. The company has a market capitalization of $1,860.67, a price-to-earnings ratio of 49.02, a PEG ratio of 2.29 and a beta of 1.18. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.59 and a current ratio of 2.27.
EnPro Industries (NYSE:NPO) last announced its quarterly earnings results on Monday, October 30th. The industrial products company reported $0.73 EPS for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.16). EnPro Industries had a net margin of 40.74% and a return on equity of 7.92%. The firm had revenue of $343.70 million for the quarter, compared to the consensus estimate of $324.00 million. During the same period in the previous year, the company posted $0.28 earnings per share. EnPro Industries’s quarterly revenue was up 17.4% on a year-over-year basis. sell-side analysts predict that EnPro Industries will post 2.51 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 20th. Investors of record on Wednesday, December 6th will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date is Tuesday, December 5th. EnPro Industries’s payout ratio is presently 3.82%.
EnPro Industries announced that its board has initiated a stock repurchase plan on Monday, October 30th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the industrial products company to purchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.
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About EnPro Industries
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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