Enersys (NYSE:ENS) Sees Strong Trading Volume - Here's What Happened

Key Points

• Enersys experienced a significant increase in trading volume, with 373,073 shares traded, marking an 18% rise compared to the previous session.
• The company recently announced a quarterly dividend of $0.24 per share, reflecting a 1.0% yield, with a payout ratio of 10.65%.
• Analysts remain bullish on Enersys, with Roth Capital reaffirming a "buy" rating and Wall Street Zen upgrading it to "strong-buy," citing a price target of $120.00.

Shares of Enersys (NYSE:ENS - Get Free Report) saw strong trading volume on Tuesday . 373,073 shares traded hands during trading, an increase of 18% from the previous session's volume of 316,290 shares.The stock last traded at $91.70 and had previously closed at $89.20.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Roth Capital restated a "buy" rating and issued a $120.00 price target on shares of Enersys in a report on Tuesday. Wall Street Zen cut shares of Enersys from a "strong-buy" rating to a "hold" rating in a research report on Saturday. Oppenheimer reaffirmed an "outperform" rating on shares of Enersys in a research report on Friday. Finally, Roth Mkm reiterated a "buy" rating and issued a $120.00 price target on shares of Enersys in a report on Wednesday, May 14th.

Enersys Stock Performance

The stock has a market cap of $3.58 billion, a price-to-earnings ratio of 10.91, a P/E/G ratio of 0.55 and a beta of 1.08. The company's fifty day simple moving average is $88.49 and its two-hundred day simple moving average is $91.42. The company has a debt-to-equity ratio of 0.68, a current ratio of 3.00 and a quick ratio of 1.74.

Enersys (NYSE:ENS - Get Free Report) last posted its earnings results on Wednesday, August 6th. The industrial products company reported $2.08 earnings per share for the quarter, topping analysts' consensus estimates of $2.05 by $0.03. The company had revenue of $893.00 million for the quarter, compared to analyst estimates of $848.02 million. Enersys had a net margin of 9.60% and a return on equity of 21.99%. The firm's revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.98 EPS. On average, analysts forecast that Enersys will post 9.99 earnings per share for the current year.

Enersys Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 12th will be given a dividend of $0.2625 per share. The ex-dividend date of this dividend is Friday, September 12th. This is a positive change from Enersys's previous quarterly dividend of $0.24. This represents a $1.05 annualized dividend and a dividend yield of 1.1%. Enersys's payout ratio is presently 10.96%.

Insider Buying and Selling at Enersys

In other news, CFO Andrea J. Funk bought 315 shares of the stock in a transaction dated Friday, May 23rd. The stock was bought at an average price of $80.20 per share, for a total transaction of $25,263.00. Following the completion of the acquisition, the chief financial officer directly owned 50,645 shares in the company, valued at approximately $4,061,729. This trade represents a 0.63% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Shawn M. O'connell purchased 475 shares of the business's stock in a transaction that occurred on Friday, May 30th. The shares were purchased at an average price of $83.76 per share, for a total transaction of $39,786.00. Following the completion of the acquisition, the chief executive officer owned 43,030 shares of the company's stock, valued at $3,604,192.80. The trade was a 1.12% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 1,085 shares of company stock valued at $89,726 in the last quarter. 0.91% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Enersys

Several hedge funds have recently modified their holdings of ENS. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in shares of Enersys in the second quarter valued at approximately $28,000. Quarry LP grew its stake in Enersys by 153.4% in the 4th quarter. Quarry LP now owns 337 shares of the industrial products company's stock valued at $31,000 after purchasing an additional 204 shares during the period. Caitong International Asset Management Co. Ltd increased its position in shares of Enersys by 2,500.0% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 338 shares of the industrial products company's stock valued at $31,000 after purchasing an additional 325 shares during the last quarter. Gen Wealth Partners Inc purchased a new stake in shares of Enersys during the 1st quarter valued at $36,000. Finally, UMB Bank n.a. boosted its holdings in shares of Enersys by 197.2% in the 1st quarter. UMB Bank n.a. now owns 428 shares of the industrial products company's stock worth $39,000 after buying an additional 284 shares during the last quarter. Institutional investors own 94.93% of the company's stock.

About Enersys

EnerSys engages in the provision of stored energy solutions for industrial applications worldwide. It operates in four segments: Energy Systems, Motive Power, Specialty, and New Ventures. The Energy Systems segment offers uninterruptible power systems (UPS) applications for computer and computer-controlled systems, as well as telecommunications systems; switchgear and electrical control systems used in industrial facilities and electric utilities, large-scale energy storage, and energy pipelines; integrated power solutions and services to broadband, telecom, data center, and renewable and industrial customers; and thermally managed cabinets and enclosures for electronic equipment and batteries.