Swedbank AB Grows Stock Holdings in Enerpac Tool Group Corp. $EPAC

Key Points

• Swedbank AB increased its holdings in Enerpac Tool Group Corp. by 300.0% in the first quarter, now owning approximately $8.97 million in stock.
• In related activity, 97.70% of Enerpac Tool Group's shares are currently owned by institutional investors and hedge funds, reflecting a significant institutional interest in the company.
• Enerpac Tool Group reported earnings of $0.51 per share for the latest quarter, exceeding analyst expectations, while it also announced a quarterly dividend of $0.04 per share.

Swedbank AB boosted its position in Enerpac Tool Group Corp. (NYSE:EPAC - Free Report) by 300.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 200,000 shares of the company's stock after purchasing an additional 150,000 shares during the quarter. Swedbank AB owned approximately 0.37% of Enerpac Tool Group worth $8,972,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in EPAC. Ameriprise Financial Inc. raised its holdings in Enerpac Tool Group by 81.5% in the first quarter. Ameriprise Financial Inc. now owns 971,462 shares of the company's stock worth $43,580,000 after purchasing an additional 436,152 shares in the last quarter. Nuveen LLC bought a new position in Enerpac Tool Group in the first quarter worth about $12,804,000. MetLife Investment Management LLC raised its holdings in Enerpac Tool Group by 849.1% in the first quarter. MetLife Investment Management LLC now owns 315,317 shares of the company's stock worth $14,145,000 after purchasing an additional 282,094 shares in the last quarter. GW&K Investment Management LLC increased its holdings in shares of Enerpac Tool Group by 45.6% during the first quarter. GW&K Investment Management LLC now owns 759,566 shares of the company's stock valued at $34,074,000 after acquiring an additional 237,763 shares in the last quarter. Finally, Champlain Investment Partners LLC increased its holdings in shares of Enerpac Tool Group by 16.3% during the first quarter. Champlain Investment Partners LLC now owns 1,416,493 shares of the company's stock valued at $63,544,000 after acquiring an additional 198,416 shares in the last quarter. 97.70% of the stock is currently owned by institutional investors.

Enerpac Tool Group Stock Down 4.1%

NYSE EPAC traded down $1.76 during mid-day trading on Friday, reaching $41.01. 1,440,855 shares of the company's stock traded hands, compared to its average volume of 335,603. Enerpac Tool Group Corp. has a 1-year low of $36.51 and a 1-year high of $51.91. The company has a fifty day simple moving average of $40.73 and a 200-day simple moving average of $41.62. The company has a current ratio of 2.90, a quick ratio of 2.24 and a debt-to-equity ratio of 0.42. The company has a market cap of $2.22 billion, a price-to-earnings ratio of 25.16 and a beta of 1.15.

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, topping analysts' consensus estimates of $0.47 by $0.04. Enerpac Tool Group had a return on equity of 24.04% and a net margin of 14.65%.The company had revenue of $158.66 million for the quarter, compared to the consensus estimate of $159.35 million. During the same quarter last year, the business posted $0.47 EPS. As a group, equities research analysts expect that Enerpac Tool Group Corp. will post 1.78 EPS for the current year.

Enerpac Tool Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Tuesday, October 7th will be paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis 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%.

Insider Activity at Enerpac Tool Group

In other news, Director E James Ferland, Jr. sold 4,224 shares of the business's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $40.99, for a total value 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 filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.10% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on EPAC. Roth Capital began coverage on shares of Enerpac Tool Group in a report on Friday, September 5th. They set a "buy" rating and a $48.00 price objective on the stock. Zacks Research upgraded shares of Enerpac Tool Group to a "hold" rating in a report on Monday, September 8th. Finally, 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. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Enerpac Tool Group has a consensus rating of "Moderate Buy" and a consensus price target 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.