Ameriprise Financial Inc. Buys 436,152 Shares of Enerpac Tool Group Corp. $EPAC

Key Points

• Ameriprise Financial Inc. increased its stake in Enerpac Tool Group Corp. by 81.5% in Q1, owning a total of 971,462 shares valued at approximately $43.58 million.
• The stock received a downgrade from "strong-buy" to "buy" by Wall Street Zen, with a consensus target price of $53.00.
• Enerpac Tool Group recently declared a quarterly dividend of $0.04 per share, with a yield of 0.4%, set to be paid on October 17th.

Ameriprise Financial Inc. increased its holdings in Enerpac Tool Group Corp. (NYSE:EPAC - Free Report) by 81.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 971,462 shares of the company's stock after buying an additional 436,152 shares during the period. Ameriprise Financial Inc. owned about 1.80% of Enerpac Tool Group worth $43,580,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Assetmark Inc. boosted its holdings in shares of Enerpac Tool Group by 41.0% in the 1st quarter. Assetmark Inc. now owns 980 shares of the company's stock valued at $44,000 after buying an additional 285 shares during the period. Russell Investments Group Ltd. boosted its holdings in shares of Enerpac Tool Group by 1,556.2% in the 1st quarter. Russell Investments Group Ltd. now owns 1,209 shares of the company's stock valued at $54,000 after buying an additional 1,136 shares during the period. Whittier Trust Co. boosted its holdings in shares of Enerpac Tool Group by 361.9% in the 1st quarter. Whittier Trust Co. now owns 1,663 shares of the company's stock valued at $75,000 after buying an additional 1,303 shares during the period. Heck Capital Advisors LLC acquired a new position in shares of Enerpac Tool Group in the 4th quarter valued at about $99,000. Finally, Benjamin Edwards Inc. acquired a new position in shares of Enerpac Tool Group in the 1st quarter valued at about $203,000. 97.70% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Enerpac Tool Group

In other news, Director E James Ferland, Jr. sold 4,224 shares of the stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $40.99, for a total transaction of $173,141.76. Following the transaction, the director owned 94,136 shares in the company, valued at $3,858,634.64. This represents a 4.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered shares of Enerpac Tool Group from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 26th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $53.00.

Enerpac Tool Group Price Performance

EPAC stock traded down $0.48 on Tuesday, hitting $41.86. 69,227 shares of the company's stock traded hands, compared to its average volume of 349,470. Enerpac Tool Group Corp. has a 1-year low of $36.51 and a 1-year high of $51.91. The stock has a market cap of $2.26 billion, a price-to-earnings ratio of 25.68 and a beta of 1.15. The stock has a fifty day moving average of $40.01 and a 200-day moving average of $41.92. The company has a current ratio of 2.90, a quick ratio of 2.24 and a debt-to-equity ratio of 0.42.

Enerpac Tool Group (NYSE:EPAC - Get Free Report) last released its earnings results on Monday, June 23rd. The company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.47 by $0.04. Enerpac Tool Group had a net margin of 14.65% and a return on equity of 24.04%. The business had revenue of $158.66 million during the quarter, compared to analyst estimates of $159.35 million. During the same period in the prior year, the business earned $0.47 earnings per share. On average, analysts forecast that Enerpac Tool Group Corp. will post 1.78 EPS for the current fiscal year.

Enerpac Tool Group Announces Dividend

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

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.