Enerpac Tool Group (NYSE:EPAC) Releases Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Key Points

• Enerpac Tool Group reported earnings of $0.52 per share, exceeding analysts' estimates of $0.51 by $0.01.
• The company announced a quarterly dividend of $0.04 per share, with the dividend yield standing at 0.4%.
• Institutional investors own 97.70% of Enerpac Tool Group's stock, indicating strong market confidence in the company.

Enerpac Tool Group (NYSE:EPAC - Get Free Report) announced its quarterly earnings data on Wednesday. The company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.01, Zacks reports. Enerpac Tool Group had a return on equity of 24.04% and a net margin of 14.65%.

Enerpac Tool Group Stock Performance

EPAC stock traded up $0.09 on Wednesday, reaching $40.40. The company's stock had a trading volume of 438,279 shares, compared to its average volume of 354,134. Enerpac Tool Group has a 52 week low of $36.51 and a 52 week high of $51.91. The company has a market capitalization of $2.18 billion, a P/E ratio of 24.78 and a beta of 1.12. The firm has a fifty day moving average of $41.50 and a two-hundred day moving average of $41.12. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.90 and a quick ratio of 2.24.

Enerpac Tool Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Tuesday, October 7th will be issued a dividend of $0.04 per share. The ex-dividend date of this dividend is Tuesday, October 7th. This represents a $0.16 annualized dividend and a dividend yield of 0.4%. Enerpac Tool Group's dividend payout ratio is 2.45%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on EPAC shares. Zacks Research raised Enerpac Tool Group to a "hold" rating in a research note on Monday, September 8th. Wall Street Zen downgraded Enerpac Tool Group from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 26th. Roth Capital initiated coverage on Enerpac Tool Group in a report on Friday, September 5th. They set a "buy" rating and a $48.00 price target on the stock. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Enerpac Tool Group in a research report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $50.50.

Insider Activity at Enerpac Tool Group

In related news, Director E James Ferland, Jr. sold 4,224 shares of the stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $40.99, for a total transaction of $173,141.76. Following the completion of the sale, the director directly owned 94,136 shares in the company, valued at approximately $3,858,634.64. This trade represents a 4.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.10% of the company's stock.

Institutional Investors Weigh In On Enerpac Tool Group

A number of institutional investors have recently added to or reduced their stakes in EPAC. State of Wyoming boosted its holdings in Enerpac Tool Group by 95.4% during the second quarter. State of Wyoming now owns 2,694 shares of the company's stock valued at $109,000 after purchasing an additional 1,315 shares in the last quarter. Public Sector Pension Investment Board increased its position in shares of Enerpac Tool Group by 6.9% in the 2nd quarter. Public Sector Pension Investment Board now owns 184,366 shares of the company's stock valued at $7,478,000 after buying an additional 11,833 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in Enerpac Tool Group by 219.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 7,033 shares of the company's stock worth $285,000 after purchasing an additional 4,828 shares during the period. State of Tennessee Department of Treasury boosted its stake in Enerpac Tool Group by 2.4% in the 2nd quarter. State of Tennessee Department of Treasury now owns 25,022 shares of the company's stock worth $1,015,000 after purchasing an additional 578 shares during the period. Finally, Vident Advisory LLC boosted its stake in shares of Enerpac Tool Group by 3.1% during the 2nd quarter. Vident Advisory LLC now owns 66,555 shares of the company's stock worth $2,699,000 after buying an additional 2,004 shares during the last quarter. 97.70% of the stock is owned by institutional investors and hedge funds.

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.

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