Index Fund Advisors Inc. Purchases New Holdings in Enerpac Tool Group Corp. $EPAC

Key Points

• Index Fund Advisors Inc. has acquired 9,920 shares of Enerpac Tool Group Corp. (NYSE:EPAC) valued at approximately $402,000 during the second quarter.
• Institutional investors now own 97.70% of Enerpac Tool Group's stock, indicating significant institutional interest.
• Analysts have a consensus rating of "Moderate Buy" for Enerpac Tool Group, with an average target price of $50.50.

Index Fund Advisors Inc. acquired a new position in shares of Enerpac Tool Group Corp. (NYSE:EPAC - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 9,920 shares of the company's stock, valued at approximately $402,000.

A number of other institutional investors have also modified their holdings of the stock. Principal Financial Group Inc. raised its stake in shares of Enerpac Tool Group by 3.2% during the first quarter. Principal Financial Group Inc. now owns 296,448 shares of the company's stock worth $13,299,000 after purchasing an additional 9,177 shares during the last quarter. Janney Montgomery Scott LLC raised its position in Enerpac Tool Group by 14.9% during the 1st quarter. Janney Montgomery Scott LLC now owns 7,051 shares of the company's stock worth $316,000 after buying an additional 917 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Enerpac Tool Group by 6.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 6,845 shares of the company's stock worth $307,000 after acquiring an additional 440 shares during the period. Nuveen LLC purchased a new stake in shares of Enerpac Tool Group in the first quarter valued at about $12,804,000. Finally, SG Americas Securities LLC increased its stake in shares of Enerpac Tool Group by 332.7% during the first quarter. SG Americas Securities LLC now owns 10,834 shares of the company's stock worth $486,000 after acquiring an additional 8,330 shares during the period. Institutional investors and hedge funds own 97.70% of the company's stock.

Wall Street Analysts Forecast Growth

EPAC has been the subject of a number of recent analyst reports. Roth Capital began coverage on shares of Enerpac Tool Group in a research report on Friday, September 5th. They issued a "buy" rating and a $48.00 price objective for the company. Zacks Research raised Enerpac Tool Group to a "hold" rating in a report on Monday, September 8th. Wall Street Zen lowered Enerpac Tool Group from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 26th. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of Enerpac Tool Group in a research report on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Enerpac Tool Group currently has a consensus rating of "Moderate Buy" and an average target price of $50.50.

Insider Buying and Selling

In other Enerpac Tool Group news, Director E James Ferland, Jr. sold 4,224 shares of the firm's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $40.99, for a total transaction of $173,141.76. Following the completion of the transaction, the director directly owned 94,136 shares in the company, valued at approximately $3,858,634.64. This trade represents a 4.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.10% of the company's stock.

Enerpac Tool Group Stock Performance

NYSE EPAC opened at $38.60 on Monday. The business has a 50 day moving average price of $41.46 and a 200 day moving average price of $41.16. 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 company has a market capitalization of $2.09 billion, a P/E ratio of 23.68 and a beta of 1.12. Enerpac Tool Group Corp. has a 1-year low of $36.51 and a 1-year high of $51.91.

Enerpac Tool Group Announces Dividend

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

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.

Want to see what other hedge funds are holding EPAC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Enerpac Tool Group Corp. (NYSE:EPAC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.