State of Alaska Department of Revenue Lowers Holdings in Enerpac Tool Group Corp. (NYSE:EPAC)

State of Alaska Department of Revenue decreased its position in Enerpac Tool Group Corp. (NYSE:EPAC) by 2.1% during the 1st quarter, Holdings Channel reports. The fund owned 30,143 shares of the company’s stock after selling 660 shares during the quarter. State of Alaska Department of Revenue’s holdings in Enerpac Tool Group were worth $1,352,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Assetmark Inc. acquired a new stake in Enerpac Tool Group in the fourth quarter valued at approximately $29,000. First Horizon Advisors Inc. acquired a new stake in Enerpac Tool Group in the fourth quarter valued at approximately $36,000. Venturi Wealth Management LLC acquired a new stake in Enerpac Tool Group in the fourth quarter valued at approximately $51,000. Heck Capital Advisors LLC acquired a new stake in Enerpac Tool Group in the fourth quarter valued at approximately $99,000. Finally, Smartleaf Asset Management LLC raised its holdings in Enerpac Tool Group by 655.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,749 shares of the company’s stock valued at $114,000 after acquiring an additional 2,385 shares in the last quarter. Institutional investors and hedge funds own 97.70% of the company’s stock.

Enerpac Tool Group Stock Up 0.5%

EPAC stock opened at $43.32 on Wednesday. The company has a current ratio of 3.06, a quick ratio of 2.36 and a debt-to-equity ratio of 0.46. The stock has a market cap of $2.34 billion, a P/E ratio of 25.63 and a beta of 1.20. The company’s 50 day moving average is $42.28 and its two-hundred day moving average is $43.36. Enerpac Tool Group Corp. has a twelve month low of $35.18 and a twelve month high of $51.91.

Enerpac Tool Group (NYSE:EPAC) last announced its earnings results on Monday, March 24th. The company reported $0.39 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.39. The business had revenue of $145.53 million for the quarter, compared to analyst estimates of $139.80 million. Enerpac Tool Group had a net margin of 15.47% and a return on equity of 24.61%. Research analysts expect that Enerpac Tool Group Corp. will post 1.78 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Wall Street Zen cut shares of Enerpac Tool Group from a “buy” rating to a “hold” rating in a report on Sunday, June 1st. CJS Securities assumed coverage on shares of Enerpac Tool Group in a report on Friday, March 14th. They set an “outperform” rating and a $53.00 price objective on the stock.

About Enerpac Tool Group

Enerpac Tool Group Corp. manufactures and sells a range of industrial products and solutions in the United States, the United Kingdom, Germany, Australia, Canada, China, Saudi Arabia, Brazil, France, and internationally. It operates through Industrial Tools & Services and Other segments. The Industrial Tools & Services segment designs, manufactures, and distributes branded hydraulic and mechanical tools; and provides services and tool rentals to the infrastructure, industrial maintenance, repair and operations, oil and gas, mining, alternative and renewable energy, civil construction, and other markets.