Enerpac Tool Group Corp. $EPAC Shares Sold by T. Rowe Price Investment Management Inc.

Key Points

• T. Rowe Price Investment Management Inc. reduced its stake in Enerpac Tool Group Corp. by 12.6%, currently holding approximately 2.41% of the company's stock valued at <$58 million.
• Enerpac Tool Group recently announced a quarterly dividend of $0.04 per share, with an annualized yield of 0.4%.
• The company reported earnings of $0.51 per share for the recent quarter, exceeding analyst expectations of $0.47, while also posting a return on equity of 24.04%.

T. Rowe Price Investment Management Inc. lessened its position in shares of Enerpac Tool Group Corp. (NYSE:EPAC - Free Report) by 12.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,303,032 shares of the company's stock after selling 187,642 shares during the quarter. T. Rowe Price Investment Management Inc. owned 2.41% of Enerpac Tool Group worth $58,455,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of EPAC. Assetmark Inc. raised its position in Enerpac Tool Group by 41.0% in the first quarter. Assetmark Inc. now owns 980 shares of the company's stock worth $44,000 after acquiring an additional 285 shares during the period. Russell Investments Group Ltd. lifted its stake in shares of Enerpac Tool Group by 1,556.2% during 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 in the last quarter. Whittier Trust Co. increased its stake in Enerpac Tool Group by 361.9% in the 1st quarter. Whittier Trust Co. now owns 1,663 shares of the company's stock worth $75,000 after buying an additional 1,303 shares in the last quarter. Heck Capital Advisors LLC bought a new stake in Enerpac Tool Group during the fourth quarter valued at about $99,000. Finally, Benjamin Edwards Inc. purchased a new position in shares of Enerpac Tool Group in the first quarter valued at about $203,000. 97.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Wall Street Zen downgraded shares of Enerpac Tool Group from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 26th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $53.00.

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 that occurred 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 sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.10% of the stock is currently owned by company insiders.

Enerpac Tool Group Trading Down 1.2%

EPAC stock traded down $0.51 during trading on Thursday, hitting $42.28. The company had a trading volume of 39,542 shares, compared to its average volume of 350,309. The company has a 50 day simple moving average of $40.00 and a 200-day simple moving average of $42.03. The company has a quick ratio of 2.24, a current ratio of 2.90 and a debt-to-equity ratio of 0.42. Enerpac Tool Group Corp. has a 52-week low of $36.51 and a 52-week high of $51.91. The firm has a market capitalization of $2.29 billion, a P/E ratio of 25.94 and a beta of 1.16.

Enerpac Tool Group (NYSE:EPAC - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $158.66 million for the quarter, compared to analysts' expectations 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 prior year, the firm earned $0.47 earnings per share. As a group, research analysts forecast that Enerpac Tool Group Corp. will post 1.78 earnings per share for the current fiscal year.

Enerpac Tool Group Announces Dividend

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

Enerpac Tool Group Company 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.