MetLife Investment Management LLC Has $14.15 Million Holdings in Enerpac Tool Group Corp. $EPAC

Key Points

• MetLife Investment Management LLC significantly increased its stake in Enerpac Tool Group Corp. by 849.1% during the 1st quarter, acquiring an additional 282,094 shares to bring its total holdings to 315,317 shares, valued at about $14.1 million.
• Wall Street analysts recently downgraded Enerpac Tool Group from a strong-buy to a buy rating, with the stock having an average target price of $53.00.
• Enerpac Tool Group announced a quarterly dividend of $0.04 per share, which will be paid on October 17th, reflecting an annualized dividend yield of 0.4%.

MetLife Investment Management LLC raised its holdings in shares of Enerpac Tool Group Corp. (NYSE:EPAC - Free Report) by 849.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 315,317 shares of the company's stock after acquiring an additional 282,094 shares during the period. MetLife Investment Management LLC owned approximately 0.58% of Enerpac Tool Group worth $14,145,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in EPAC. Assetmark Inc. raised its position in shares of Enerpac Tool Group by 41.0% during the 1st quarter. Assetmark Inc. now owns 980 shares of the company's stock valued at $44,000 after acquiring an additional 285 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in Enerpac Tool Group by 1,556.2% in the 1st quarter. Russell Investments Group Ltd. now owns 1,209 shares of the company's stock worth $54,000 after purchasing an additional 1,136 shares during the period. Whittier Trust Co. boosted 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 purchasing an additional 1,303 shares during the period. Heck Capital Advisors LLC acquired a new position in Enerpac Tool Group in the 4th quarter worth $99,000. Finally, State of Wyoming acquired a new position in Enerpac Tool Group in the 4th quarter worth $201,000. Institutional investors own 97.70% of the company's stock.

Insider Transactions at Enerpac Tool Group

In related 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 value of $173,141.76. Following the completion of the sale, 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.10% of the company's stock.

Analysts Set New Price Targets

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. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $53.00.

Enerpac Tool Group Stock Down 1.3%

Shares of NYSE EPAC traded down $0.54 during mid-day trading on Friday, hitting $42.34. The company had a trading volume of 257,569 shares, compared to its average volume of 367,506. Enerpac Tool Group Corp. has a one year low of $36.51 and a one year high of $51.91. The company has a market capitalization of $2.29 billion, a PE ratio of 25.97 and a beta of 1.16. The firm has a 50-day simple moving average of $40.03 and a two-hundred day simple moving average of $41.97. The company has a current ratio of 2.90, a quick ratio of 2.24 and a debt-to-equity ratio of 0.42.

Enerpac Tool Group (NYSE:EPAC - Get Free Report) last issued its earnings results on Monday, June 23rd. The company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.04. Enerpac Tool Group had a net margin of 14.65% and a return on equity of 24.04%. The business had revenue of $158.66 million during the quarter, compared to the consensus estimate of $159.35 million. During the same period last year, the business posted $0.47 EPS. On average, equities analysts expect that Enerpac Tool Group Corp. will post 1.78 EPS for the current year.

Enerpac Tool Group Dividend Announcement

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