Enerpac Tool Group Corp. (NYSE:EPAC) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its stake in Enerpac Tool Group Corp. (NYSE:EPAC - Free Report) by 3.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 594,205 shares of the company's stock after selling 22,294 shares during the period. Bank of New York Mellon Corp owned approximately 1.10% of Enerpac Tool Group worth $26,656,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in EPAC. Principal Financial Group Inc. grew its position in shares of Enerpac Tool Group by 3.2% in the first quarter. Principal Financial Group Inc. now owns 296,448 shares of the company's stock valued at $13,299,000 after purchasing an additional 9,177 shares during the last quarter. Diversified Trust Co grew its position in shares of Enerpac Tool Group by 17.8% in the first quarter. Diversified Trust Co now owns 14,725 shares of the company's stock valued at $661,000 after purchasing an additional 2,225 shares during the last quarter. Bessemer Group Inc. grew its position in shares of Enerpac Tool Group by 15.8% in the first quarter. Bessemer Group Inc. now owns 22,888 shares of the company's stock valued at $1,027,000 after purchasing an additional 3,125 shares during the last quarter. Precision Wealth Strategies LLC grew its position in shares of Enerpac Tool Group by 5.7% in the first quarter. Precision Wealth Strategies LLC now owns 13,113 shares of the company's stock valued at $588,000 after purchasing an additional 703 shares during the last quarter. Finally, Janney Montgomery Scott LLC grew its position in shares of Enerpac Tool Group by 14.9% in the first quarter. Janney Montgomery Scott LLC now owns 7,051 shares of the company's stock valued at $316,000 after purchasing an additional 917 shares during the last quarter. 97.70% of the stock is owned by hedge funds and other institutional investors.

Enerpac Tool Group Trading Down 0.6%

Shares of EPAC stock traded down $0.25 during mid-day trading on Friday, reaching $38.31. The company's stock had a trading volume of 493,912 shares, compared to its average volume of 340,318. The company's 50 day simple moving average is $41.77 and its 200-day simple moving average is $42.62. Enerpac Tool Group Corp. has a 12-month low of $36.51 and a 12-month high of $51.91. The company has a quick ratio of 2.24, a current ratio of 2.90 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $2.07 billion, a PE ratio of 23.50 and a beta of 1.16.

Enerpac Tool Group (NYSE:EPAC - Get Free Report) last released its quarterly earnings results on Monday, June 23rd. The company reported $0.51 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $158.66 million for the quarter, compared to the consensus estimate of $159.35 million. During the same quarter in the previous year, the firm posted $0.47 EPS. On average, research analysts predict that Enerpac Tool Group Corp. will post 1.78 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of Enerpac Tool Group from a "buy" rating to a "strong-buy" rating in a research report on Saturday, July 5th.

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.