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 lowered its stake in Enerpac Tool Group Corp. (NYSE:EPAC - Free Report) by 47.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. 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 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in EPAC. Northern Trust Corp lifted its position in Enerpac Tool Group by 10.9% during the fourth quarter. Northern Trust Corp now owns 617,474 shares of the company's stock valued at $25,372,000 after buying an additional 60,905 shares during the period. Ameriprise Financial Inc. lifted its position in Enerpac Tool Group by 230.6% during the fourth quarter. Ameriprise Financial Inc. now owns 535,310 shares of the company's stock valued at $21,996,000 after buying an additional 373,372 shares during the period. BNP Paribas Financial Markets purchased a new position in Enerpac Tool Group during the fourth quarter valued at $604,000. Captrust Financial Advisors lifted its position in Enerpac Tool Group by 12.2% during the fourth quarter. Captrust Financial Advisors now owns 8,835 shares of the company's stock valued at $363,000 after buying an additional 964 shares during the period. Finally, Crestline Management LP purchased a new position in Enerpac Tool Group during the fourth quarter valued at $519,000. Institutional investors own 97.70% of the company's stock.

Insider Activity

In other Enerpac Tool Group news, Director E James Ferland, Jr. sold 4,224 shares of the business's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $40.99, for a total value of $173,141.76. Following the completion of the transaction, the director owned 94,136 shares of the company's stock, valued at approximately $3,858,634.64. The trade was a 4.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.10% of the stock is currently owned by corporate insiders.

Enerpac Tool Group Price Performance

EPAC opened at $42.66 on Friday. The stock has a 50-day moving average price of $39.95 and a 200-day moving average price of $41.86. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.90 and a quick ratio of 2.24. The firm has a market cap of $2.31 billion, a PE ratio of 26.17 and a beta of 1.15. Enerpac Tool Group Corp. has a 1 year low of $36.51 and a 1 year high of $51.91.

Enerpac Tool Group (NYSE:EPAC - Get Free Report) last posted 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. The firm had revenue of $158.66 million during 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 quarter in the previous year, the firm earned $0.47 EPS. Sell-side analysts predict that Enerpac Tool Group Corp. will post 1.78 earnings per share for the current fiscal year.

Enerpac Tool Group Announces Dividend

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

Analysts Set New Price Targets

EPAC has been the subject of several recent research reports. Wall Street Zen lowered Enerpac Tool Group from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 26th. Roth Capital initiated coverage on Enerpac Tool Group in a research report on Friday. They set a "buy" rating and a $48.00 price objective for the company. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $50.50.

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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