Enpro (NYSE:NPO) Shares Gap Down After Earnings Miss

Enpro Inc. (NYSE:NPO) gapped down before the market opened on Tuesday following a weaker than expected 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 (EPS) for the quarter, missing analysts’ consensus estimates of $1.87 by ($0.13). Enpro had a net margin of 4.14% and a return on equity of 9.54%. The business had revenue of $260.90 million during the quarter, compared to the consensus estimate of $264.47 million. During the same quarter in the prior year, the firm earned $1.58 EPS. The business’s revenue was up 4.1% on a year-over-year basis.

Enpro Announces Dividend

The company 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 dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 0.72%. The ex-dividend date of this dividend is Wednesday, December 4th. Enpro’s dividend payout ratio (DPR) is currently 59.41%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Enpro from a “buy” rating to a “hold” rating in a report on Wednesday.

Insider Buying and Selling

In related news, CAO Steven R. Bower sold 1,548 shares of Enpro stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 604 shares of the company’s stock, valued at $90,636.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Enpro

Several institutional investors have recently added to or reduced their stakes in the business. Pitcairn Co. lifted its stake in Enpro by 1.9% in the first quarter. Pitcairn Co. now owns 4,050 shares of the industrial products company’s stock valued at $684,000 after buying an additional 77 shares during the period. Bank of Montreal Can raised its position in shares of Enpro by 3.2% during the second quarter. Bank of Montreal Can now owns 2,595 shares of the industrial products company’s stock worth $395,000 after purchasing an additional 80 shares during the period. Illinois Municipal Retirement Fund raised its position in shares of Enpro by 0.7% during the first quarter. Illinois Municipal Retirement Fund now owns 12,198 shares of the industrial products company’s stock worth $2,059,000 after purchasing an additional 85 shares during the period. Louisiana State Employees Retirement System raised its position in shares of Enpro by 1.0% during the second quarter. Louisiana State Employees Retirement System now owns 10,500 shares of the industrial products company’s stock worth $1,528,000 after purchasing an additional 100 shares during the period. Finally, Envestnet Portfolio Solutions Inc. raised its position in shares of Enpro by 3.4% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 3,203 shares of the industrial products company’s stock worth $466,000 after purchasing an additional 104 shares during the period. 98.31% of the stock is owned by institutional investors and hedge funds.

Enpro Price Performance

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 business has a 50-day moving average price of $154.71 and a two-hundred day moving average price of $152.97. The company has a market capitalization 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.