FBR & Co reiterated their buy rating on shares of EnPro Industries (NYSE:NPO) in a research note published on Tuesday morning. They currently have a $85.00 price objective on the industrial products company’s stock.
“We had EnPro management meet with clients on September 7–8, making a strong case that even after it had put asbestos-related liabilities completely behind it, the revenue and margin growth profile of all three businesses creates an attractive upside opportunity, in our view. In addition to a relative healthy macro environment, the company is allocating the cash that had historically been allocated to managing its asbestos liability to higher-return investments such as accretive acquisitions and internal growth initiatives.”,” the firm’s analyst wrote.
Several other research analysts have also weighed in on NPO. Zacks Investment Research raised EnPro Industries from a sell rating to a hold rating in a research report on Friday, May 26th. BidaskClub raised EnPro Industries from a sell rating to a hold rating in a research report on Tuesday, June 13th. Finally, TheStreet raised EnPro Industries from a c+ rating to a b- rating in a research report on Thursday, August 3rd. One analyst has rated the stock with a sell rating, two have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus target price of $83.33.
EnPro Industries (NYSE NPO) opened at 73.21 on Tuesday. EnPro Industries has a 1-year low of $52.00 and a 1-year high of $77.65. The stock has a 50 day moving average price of $71.53 and a 200 day moving average price of $69.49. The firm has a market capitalization of $1.56 billion, a price-to-earnings ratio of 85.73 and a beta of 1.10.
EnPro Industries (NYSE:NPO) last issued its earnings results on Monday, July 31st. The industrial products company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.81 by ($0.35). EnPro Industries had a return on equity of 8.71% and a net margin of 1.56%. The firm had revenue of $347.00 million during the quarter, compared to analyst estimates of $347.13 million. During the same period in the previous year, the company earned $0.17 earnings per share. The business’s revenue for the quarter was up 10.8% on a year-over-year basis. Analysts predict that EnPro Industries will post $2.61 EPS for the current year.
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The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders of record on Wednesday, September 6th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date is Friday, September 1st. EnPro Industries’s dividend payout ratio is 103.53%.
In other news, insider Todd L. Anderson sold 2,148 shares of the stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $72.67, for a total transaction of $156,095.16. Following the transaction, the insider now owns 9,000 shares of the company’s stock, valued at approximately $654,030. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Stephen E. Macadam sold 26,318 shares of the stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $74.08, for a total value of $1,949,637.44. Following the transaction, the insider now directly owns 245,765 shares in the company, valued at approximately $18,206,271.20. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of NPO. BlackRock Inc. increased its holdings in shares of EnPro Industries by 126,215.4% during the 1st quarter. BlackRock Inc. now owns 2,600,835 shares of the industrial products company’s stock valued at $185,076,000 after acquiring an additional 2,598,776 shares during the last quarter. Loomis Sayles & Co. L P acquired a new position in shares of EnPro Industries during the 1st quarter valued at about $13,901,000. Sound Point Capital Management LP increased its holdings in shares of EnPro Industries by 68.4% during the 1st quarter. Sound Point Capital Management LP now owns 331,524 shares of the industrial products company’s stock valued at $23,591,000 after acquiring an additional 134,681 shares during the last quarter. Castleark Management LLC acquired a new position in shares of EnPro Industries during the 2nd quarter valued at about $6,456,000. Finally, Gamco Investors INC. ET AL increased its holdings in shares of EnPro Industries by 42.2% during the 2nd quarter. Gamco Investors INC. ET AL now owns 298,820 shares of the industrial products company’s stock valued at $21,327,000 after acquiring an additional 88,620 shares during the last quarter. 94.38% of the stock is currently owned by institutional investors and hedge funds.
About EnPro Industries
EnPro Industries, Inc is engaged in the designing, developing, manufacturing and marketing engineered industrial products. It operates through three segments. The Sealing Products segment includes three operating divisions: Garlock, which designs, manufactures and sells sealing products; Technetics, which designs, manufactures and sells metal seals and elastomeric seals, among others, and Stemco LP (Stemco), which designs, manufactures and sells heavy-duty truck wheel-end components and systems.
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