Gabelli Funds LLC Sells 16,300 Shares of Enpro Inc. $NPO

Key Points

• Gabelli Funds LLC has reduced its stake in Enpro Inc. by 20.7% in the first quarter, now holding 62,400 shares valued at approximately $10 million.
• Analysts have upgraded their ratings and price targets for Enpro, with Oppenheimer and KeyCorp raising their price objectives to $240.00 and assigning it an "outperform" and "overweight" rating respectively.
• Enpro has announced a quarterly dividend of $0.31 per share, with an ex-dividend date of September 3rd, resulting in an annualized yield of 0.5%.

Gabelli Funds LLC cut its position in shares of Enpro Inc. (NYSE:NPO - Free Report) by 20.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 62,400 shares of the industrial products company's stock after selling 16,300 shares during the period. Gabelli Funds LLC owned approximately 0.30% of Enpro worth $10,096,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NPO. Marshall Wace LLP bought a new position in Enpro during the fourth quarter valued at approximately $862,000. First Trust Advisors LP bought a new position in Enpro during the fourth quarter valued at approximately $757,000. Hsbc Holdings PLC boosted its stake in Enpro by 125.7% during the fourth quarter. Hsbc Holdings PLC now owns 7,589 shares of the industrial products company's stock valued at $1,312,000 after buying an additional 4,227 shares during the last quarter. Northern Trust Corp boosted its stake in Enpro by 20.8% during the fourth quarter. Northern Trust Corp now owns 268,542 shares of the industrial products company's stock valued at $46,310,000 after buying an additional 46,191 shares during the last quarter. Finally, Gallagher Fiduciary Advisors LLC boosted its stake in Enpro by 18.1% during the fourth quarter. Gallagher Fiduciary Advisors LLC now owns 3,049 shares of the industrial products company's stock valued at $526,000 after buying an additional 467 shares during the last quarter. 98.31% of the stock is owned by institutional investors.

Insider Buying and Selling at Enpro

In other news, EVP Robert Savage Mclean sold 2,541 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $223.77, for a total value of $568,599.57. Following the sale, the executive vice president directly owned 29,116 shares in the company, valued at approximately $6,515,287.32. This represents a 8.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.50% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on NPO. Oppenheimer upped their price objective on Enpro from $215.00 to $240.00 and gave the company an "outperform" rating in a research report on Wednesday, August 6th. Wall Street Zen upgraded Enpro from a "hold" rating to a "buy" rating in a research report on Sunday, August 3rd. Finally, KeyCorp upped their price objective on Enpro from $220.00 to $240.00 and gave the company an "overweight" rating in a research report on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. According to data from MarketBeat, the company has an average rating of "Buy" and an average price target of $240.00.

Enpro Trading Down 3.4%

Shares of NYSE NPO traded down $7.75 during midday trading on Monday, hitting $218.59. The company's stock had a trading volume of 104,184 shares, compared to its average volume of 132,512. The company has a current ratio of 2.49, a quick ratio of 1.65 and a debt-to-equity ratio of 0.31. The business's 50 day moving average is $210.49 and its two-hundred day moving average is $185.89. Enpro Inc. has a 12-month low of $133.50 and a 12-month high of $231.94. The firm has a market cap of $4.60 billion, a P/E ratio of 54.65, a price-to-earnings-growth ratio of 2.19 and a beta of 1.57.

Enpro (NYSE:NPO - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $2.03 earnings per share for the quarter, missing the consensus estimate of $2.08 by ($0.05). Enpro had a return on equity of 10.49% and a net margin of 7.83%.The business had revenue of $288.10 million during the quarter, compared to analysts' expectations of $283.83 million. During the same quarter in the previous year, the company posted $2.08 earnings per share. The company's quarterly revenue was up 6.0% compared to the same quarter last year. Enpro has set its FY 2025 guidance at 7.600-8.10 EPS. As a group, equities research analysts expect that Enpro Inc. will post 7.38 EPS for the current year.

Enpro Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Wednesday, September 3rd will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Wednesday, September 3rd. Enpro's dividend payout ratio is presently 31.00%.

Enpro Profile

Enpro Inc design, develops, manufactures, and markets proprietary, value-added products and solutions to safeguard critical environments in the United States, Europe, and internationally. It operates through two segments, Sealing Technologies and Advanced Surface Technologies. The Sealing Technologies segment offers single-use hygienic seals, tubing, components and assemblies; metallic, non-metallic, and composite material gaskets; dynamic seals; compression packing; hydraulic components; expansion joints; and wall penetration products for chemical and petrochemical processing, pulp and paper processing, nuclear energy, hydrogen, natural gas, food and biopharmaceutical processing, primary metal manufacturing, mining, water and waste treatment, commercial vehicle, aerospace, medical, filtration, and semiconductor fabrication industries.