Comerica Bank Sells 18,415 Shares of Enerpac Tool Group Corp. $EPAC

Key Points

• Comerica Bank reduced its stake in Enerpac Tool Group Corp. by 47.6%, selling 18,415 shares and holding 20,274 shares worth approximately $910,000 at the end of the first quarter.
• Enerpac Tool Group recently declared a $0.04 quarterly dividend, with an annualized yield of 0.4%, payable on October 17th to stockholders of record as of October 7th.
• Analysts have set an average price target of $50.50 for Enerpac Tool Group, with recent ratings ranging from "buy" to "strong-buy" from various financial institutions.

Comerica Bank decreased its stake in shares of Enerpac Tool Group Corp. (NYSE:EPAC - Free Report) by 47.6% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 20,274 shares of the company's stock after selling 18,415 shares during the period. Comerica Bank's holdings in Enerpac Tool Group were worth $910,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Assetmark Inc. grew its position in Enerpac Tool Group by 41.0% during the 1st quarter. Assetmark Inc. now owns 980 shares of the company's stock worth $44,000 after acquiring an additional 285 shares during the last quarter. MainStreet Investment Advisors LLC grew its position in Enerpac Tool Group by 5.5% during the 1st quarter. MainStreet Investment Advisors LLC now owns 6,795 shares of the company's stock worth $305,000 after acquiring an additional 355 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Enerpac Tool Group by 6.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 6,845 shares of the company's stock worth $307,000 after acquiring an additional 440 shares during the last quarter. Moody National Bank Trust Division grew its position in Enerpac Tool Group by 4.8% during the 1st quarter. Moody National Bank Trust Division now owns 10,967 shares of the company's stock worth $492,000 after acquiring an additional 506 shares during the last quarter. Finally, Two Sigma Advisers LP grew its position in Enerpac Tool Group by 8.0% during the 4th quarter. Two Sigma Advisers LP now owns 8,100 shares of the company's stock worth $333,000 after acquiring an additional 600 shares during the last quarter. Hedge funds and other institutional investors own 97.70% of the company's stock.

Enerpac Tool Group Trading Up 2.3%

Shares of EPAC stock traded up $0.98 during trading hours on Thursday, reaching $43.31. The company's stock had a trading volume of 359,287 shares, compared to its average volume of 335,806. The stock has a market capitalization of $2.34 billion, a P/E ratio of 26.57 and a beta of 1.15. Enerpac Tool Group Corp. has a one year low of $36.51 and a one year high of $51.91. The firm's fifty day simple moving average is $40.21 and its 200 day simple moving average is $41.75. 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 issued its quarterly earnings data on Monday, June 23rd. The company reported $0.51 earnings per share for the quarter, topping analysts' consensus estimates of $0.47 by $0.04. The firm had revenue of $158.66 million for the quarter, compared to analyst estimates of $159.35 million. Enerpac Tool Group had a return on equity of 24.04% and a net margin of 14.65%.During the same period last year, the company earned $0.47 EPS. Equities research analysts expect that Enerpac Tool Group Corp. will post 1.78 EPS for the current year.

Enerpac Tool Group Dividend Announcement

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

Insider Buying and Selling at Enerpac Tool Group

In related news, Director E James Ferland, Jr. sold 4,224 shares of Enerpac Tool Group stock in a transaction that occurred 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 sale, the director directly owned 94,136 shares in the company, valued at $3,858,634.64. The trade was a 4.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently issued reports on EPAC. Zacks Research upgraded Enerpac Tool Group to a "hold" rating in a research report on Monday. Wall Street Zen lowered Enerpac Tool Group from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 26th. Finally, Roth Capital assumed coverage on Enerpac Tool Group in a research report on Friday, September 5th. They issued a "buy" rating and a $48.00 price objective on the stock. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $50.50.

Enerpac Tool Group Profile

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.