Enpro (NYSE:NPO) Shares Gap Down on Disappointing Earnings

Enpro Inc. (NYSE:NPO)’s share price 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 traded.

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

Enpro Announces Dividend

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

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Enpro

In other Enpro news, CAO Steven R. Bower sold 1,548 shares of the company’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 owns 604 shares in the company, valued at $90,636.24. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of NPO. SG Americas Securities LLC bought a new position in shares of Enpro during the 1st quarter worth $734,000. UniSuper Management Pty Ltd bought a new position in shares of Enpro during the 1st quarter worth $689,000. First Eagle Investment Management LLC grew its stake in shares of Enpro by 7.9% during the 1st quarter. First Eagle Investment Management LLC now owns 65,493 shares of the industrial products company’s stock worth $11,053,000 after acquiring an additional 4,775 shares during the period. Swedbank AB bought a new position in shares of Enpro during the 1st quarter worth $28,691,000. Finally, Renaissance Technologies LLC lifted its holdings in Enpro by 129.7% during the 2nd quarter. Renaissance Technologies LLC now owns 29,400 shares of the industrial products company’s stock worth $4,280,000 after purchasing an additional 16,600 shares in the last quarter. Institutional investors own 98.31% of the company’s stock.

Enpro Price Performance

The business has a fifty day moving average of $154.71 and a 200-day moving average of $152.97. The firm has a market cap of $3.48 billion, a PE ratio of 82.10 and a beta of 1.41. The company has a current ratio of 2.72, a quick ratio of 1.90 and a debt-to-equity ratio of 0.45.

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.