Federated Hermes Inc. Sells 11,920 Shares of Enerpac Tool Group Corp. (NYSE:EPAC)

Key Points

• Federated Hermes Inc. reduced its stake in Enerpac Tool Group by 25.8%, leaving it with 34,352 shares valued at approximately $1.54 million.
• Wall Street analysts have downgraded Enerpac Tool Group's rating from "strong-buy" to "buy."
• Enerpac Tool Group declared a quarterly dividend of $0.04, to be paid on October 17th, reflecting a 0.4% dividend yield.

Federated Hermes Inc. reduced its holdings in Enerpac Tool Group Corp. (NYSE:EPAC - Free Report) by 25.8% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 34,352 shares of the company's stock after selling 11,920 shares during the quarter. Federated Hermes Inc. owned 0.06% of Enerpac Tool Group worth $1,541,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wells Fargo & Company MN raised its holdings in shares of Enerpac Tool Group by 1,931.9% during the 4th quarter. Wells Fargo & Company MN now owns 409,263 shares of the company's stock valued at $16,817,000 after buying an additional 389,121 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Enerpac Tool Group by 230.6% in the 4th quarter. Ameriprise Financial Inc. now owns 535,310 shares of the company's stock worth $21,996,000 after acquiring an additional 373,372 shares during the last quarter. GW&K Investment Management LLC boosted its stake in shares of Enerpac Tool Group by 45.6% in the 1st quarter. GW&K Investment Management LLC now owns 759,566 shares of the company's stock valued at $34,074,000 after purchasing an additional 237,763 shares in the last quarter. Cerity Partners LLC purchased a new stake in shares of Enerpac Tool Group in the 4th quarter valued at $8,338,000. Finally, Grandeur Peak Global Advisors LLC grew its holdings in shares of Enerpac Tool Group by 1,197.5% during the 4th quarter. Grandeur Peak Global Advisors LLC now owns 208,385 shares of the company's stock valued at $8,563,000 after purchasing an additional 192,325 shares during the last quarter. Hedge funds and other institutional investors own 97.70% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded shares of Enerpac Tool Group from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 26th.

Enerpac Tool Group Trading Down 0.4%

Shares of NYSE EPAC traded down $0.18 during midday trading on Friday, reaching $40.28. The company had a trading volume of 406,101 shares, compared to its average volume of 399,240. The stock has a market cap of $2.18 billion, a PE ratio of 24.71 and a beta of 1.16. 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 moving average price is $40.09 and its 200-day moving average price is $42.25. 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 (NYSE:EPAC - Get Free Report) last announced its quarterly 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. The business 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 period in the previous year, the firm earned $0.47 EPS. On average, equities research analysts anticipate that Enerpac Tool Group Corp. will post 1.78 earnings per share for the current year.

Enerpac Tool Group Announces Dividend

The company 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 dividend on an annualized basis 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 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.