Jennison Associates LLC Increases Position in Enpro Inc. (NYSE:NPO)

Jennison Associates LLC raised its position in Enpro Inc. (NYSE:NPO) by 21.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 441,018 shares of the industrial products company’s stock after purchasing an additional 76,684 shares during the quarter. Jennison Associates LLC owned 2.11% of Enpro worth $69,125,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NPO. FMR LLC raised its position in Enpro by 21.8% in the third quarter. FMR LLC now owns 948,511 shares of the industrial products company’s stock valued at $114,950,000 after purchasing an additional 169,848 shares during the period. Wellington Management Group LLP grew its stake in shares of Enpro by 25.2% in the third quarter. Wellington Management Group LLP now owns 282,082 shares of the industrial products company’s stock worth $34,186,000 after acquiring an additional 56,757 shares in the last quarter. Kennedy Capital Management LLC grew its stake in shares of Enpro by 352.5% in the third quarter. Kennedy Capital Management LLC now owns 64,937 shares of the industrial products company’s stock worth $7,870,000 after acquiring an additional 50,587 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in shares of Enpro by 66.2% in the third quarter. Envestnet Asset Management Inc. now owns 72,332 shares of the industrial products company’s stock worth $8,766,000 after acquiring an additional 28,801 shares in the last quarter. Finally, Invesco Ltd. grew its stake in shares of Enpro by 5.2% in the third quarter. Invesco Ltd. now owns 547,551 shares of the industrial products company’s stock worth $66,358,000 after acquiring an additional 27,071 shares in the last quarter. Hedge funds and other institutional investors own 98.31% of the company’s stock.

Enpro Stock Performance

NYSE:NPO opened at $148.92 on Tuesday. The company has a fifty day simple moving average of $158.93 and a two-hundred day simple moving average of $145.09. The company has a market cap of $3.12 billion, a price-to-earnings ratio of 140.49 and a beta of 1.55. The company has a quick ratio of 2.59, a current ratio of 3.31 and a debt-to-equity ratio of 0.45. Enpro Inc. has a 52 week low of $92.04 and a 52 week high of $170.63.

Enpro (NYSE:NPO) last posted its quarterly earnings results on Tuesday, February 20th. The industrial products company reported $1.19 EPS for the quarter, missing the consensus estimate of $1.47 by ($0.28). The business had revenue of $241.90 million during the quarter, compared to analyst estimates of $264.10 million. Enpro had a return on equity of 9.67% and a net margin of 2.10%. The business’s revenue was down 11.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.47 EPS. As a group, equities analysts anticipate that Enpro Inc. will post 7.43 earnings per share for the current fiscal year.

Enpro Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, March 6th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.81%. This is an increase from Enpro’s previous quarterly dividend of $0.29. Enpro’s payout ratio is presently 113.21%.

Insider Buying and Selling

In related news, CAO Robert Savage Mclean sold 6,400 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $158.32, for a total transaction of $1,013,248.00. Following the completion of the transaction, the chief accounting officer now owns 28,961 shares in the company, valued at $4,585,105.52. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CAO Robert Savage Mclean sold 6,400 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $158.32, for a total transaction of $1,013,248.00. Following the completion of the transaction, the chief accounting officer now owns 28,961 shares in the company, valued at $4,585,105.52. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Der Graaf Kees Van sold 1,200 shares of the business’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $160.01, for a total transaction of $192,012.00. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, TheStreet upgraded shares of Enpro from a “c+” rating to a “b-” rating in a research note on Thursday, February 1st.

Enpro Profile

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.