Enpro (NYSE:NPO) Shares Gap Down Following Weak Earnings

Shares of Enpro Inc. (NYSE:NPO) gapped down prior to trading on Tuesday following a dissappointing earnings announcement. The stock had previously closed at $146.64, but opened at $138.00. Enpro shares last traded at $145.74, with a volume of 12,826 shares.

The industrial products company reported $1.74 earnings per share for the quarter, missing the consensus estimate of $1.87 by ($0.13). The business had revenue of $260.90 million for the quarter, compared to analysts’ expectations of $264.47 million. Enpro had a net margin of 4.14% and a return on equity of 9.54%. The business’s revenue was up 4.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.58 earnings per share.

Enpro Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.72%. Enpro’s dividend payout ratio (DPR) is 59.41%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of Enpro from a “buy” rating to a “hold” rating in a research note on Wednesday.

Insider Activity at Enpro

In other Enpro news, CAO Steven R. Bower sold 1,548 shares of the business’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $150.06, for a total value of $232,292.88. Following the completion of the transaction, the chief accounting officer now directly owns 604 shares in the company, valued at approximately $90,636.24. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.70% of the company’s stock.

Institutional Trading of Enpro

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Opal Wealth Advisors LLC purchased a new stake in Enpro in the second quarter valued at approximately $29,000. Innealta Capital LLC acquired a new position in shares of Enpro in the 2nd quarter valued at $48,000. GAMMA Investing LLC grew its stake in shares of Enpro by 168.1% during the 3rd quarter. GAMMA Investing LLC now owns 319 shares of the industrial products company’s stock valued at $52,000 after buying an additional 200 shares during the period. Blue Trust Inc. increased its holdings in shares of Enpro by 357.4% during the 3rd quarter. Blue Trust Inc. now owns 526 shares of the industrial products company’s stock worth $85,000 after buying an additional 411 shares during the last quarter. Finally, KBC Group NV raised its position in shares of Enpro by 24.3% in the 3rd quarter. KBC Group NV now owns 664 shares of the industrial products company’s stock worth $108,000 after buying an additional 130 shares during the period. Hedge funds and other institutional investors own 98.31% of the company’s stock.

Enpro Stock Up 11.5 %

The stock has a fifty day moving average of $154.71 and a two-hundred day moving average of $152.97. The company has a quick ratio of 1.90, a current ratio of 2.72 and a debt-to-equity ratio of 0.45. The stock has a market cap of $3.48 billion, a price-to-earnings ratio of 82.10 and a beta of 1.41.

About Enpro

Enpro Inc design, develops, manufactures, and markets proprietary, value-added products and solutions to safeguard critical environments in the United States, Europe, and internationally. It operates through two segments, Sealing Technologies and Advanced Surface Technologies. The Sealing Technologies segment offers single-use hygienic seals, tubing, components and assemblies; metallic, non-metallic, and composite material gaskets; dynamic seals; compression packing; hydraulic components; expansion joints; and wall penetration products for chemical and petrochemical processing, pulp and paper processing, nuclear energy, hydrogen, natural gas, food and biopharmaceutical processing, primary metal manufacturing, mining, water and waste treatment, commercial vehicle, aerospace, medical, filtration, and semiconductor fabrication industries.