EnPro Industries Inc. (NPO) Upgraded to Strong-Buy by Zacks Investment Research
EnPro Industries Inc. (NYSE:NPO) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued on Wednesday. The brokerage presently has a $65.00 price objective on the stock. Zacks Investment Research’s price objective would suggest a potential upside of 15.58% from the stock’s previous close.
According to Zacks, “EnPro Industries, Inc. is a leader in sealing products, metal polymer bearings, compressor systems and other engineered products for use in critical applications by industries worldwide. “
Shares of EnPro Industries (NYSE:NPO) traded down 1.04% on Wednesday, hitting $56.24. The company had a trading volume of 86,152 shares. EnPro Industries has a 1-year low of $37.53 and a 1-year high of $63.82. The company has a 50 day moving average price of $55.19 and a 200 day moving average price of $52.03. The firm’s market capitalization is $1.21 billion.
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EnPro Industries (NYSE:NPO) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $0.60 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.66 by $0.06. EnPro Industries had a positive return on equity of 7.48% and a negative net margin of 2.04%. The company had revenue of $313.20 million for the quarter, compared to the consensus estimate of $311.87 million. During the same quarter last year, the company posted $0.69 EPS. The company’s quarterly revenue was up 5.0% compared to the same quarter last year. On average, equities analysts forecast that EnPro Industries will post ($0.92) earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st were paid a $0.21 dividend. The ex-dividend date was Tuesday, August 30th. This represents a $0.84 dividend on an annualized basis and a yield of 1.49%. EnPro Industries’s dividend payout ratio (DPR) is presently -71.79%.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. American Century Companies Inc. increased its position in shares of EnPro Industries by 58.2% in the second quarter. American Century Companies Inc. now owns 452,044 shares of the company’s stock worth $20,066,000 after buying an additional 166,383 shares during the period. Hotchkis & Wiley Capital Management LLC increased its position in shares of EnPro Industries by 11.0% in the second quarter. Hotchkis & Wiley Capital Management LLC now owns 1,371,120 shares of the company’s stock worth $60,864,000 after buying an additional 136,300 shares during the period. Advisory Research Inc. increased its position in shares of EnPro Industries by 110.3% in the second quarter. Advisory Research Inc. now owns 210,460 shares of the company’s stock worth $9,342,000 after buying an additional 110,380 shares during the period. Highbridge Capital Management LLC acquired a new position in shares of EnPro Industries during the second quarter worth about $1,400,000. Finally, Comerica Bank increased its position in shares of EnPro Industries by 51.6% in the second quarter. Comerica Bank now owns 86,386 shares of the company’s stock worth $4,356,000 after buying an additional 29,401 shares during the period. Hedge funds and other institutional investors own 94.31% of the company’s stock.
About EnPro Industries
EnPro Industries, Inc (EnPro) is engaged in the designing, developing, manufacturing, and marketing engineered industrial products. The Company operates through three segments: Sealing Products, Engineered Products and Power Systems. Its Sealing Products segment designs, manufactures and sells sealing products, including metallic, non-metallic and composite material gaskets, resilient metal seals, elastomeric seals, hydraulic components, expansion joints and casing end seals.
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