Millennium Management LLC Reduces Position in Enerpac Tool Group Corp. (NYSE:EPAC)

Millennium Management LLC lowered its stake in shares of Enerpac Tool Group Corp. (NYSE:EPAC - Free Report) by 91.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,703 shares of the company's stock after selling 93,823 shares during the quarter. Millennium Management LLC's holdings in Enerpac Tool Group were worth $358,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in EPAC. Thrivent Financial for Lutherans boosted its holdings in Enerpac Tool Group by 1,061.5% in the fourth quarter. Thrivent Financial for Lutherans now owns 495,282 shares of the company's stock valued at $20,351,000 after purchasing an additional 452,641 shares during the last quarter. Wells Fargo & Company MN grew its holdings in Enerpac Tool Group by 1,931.9% during the fourth quarter. Wells Fargo & Company MN now owns 409,263 shares of the company's stock worth $16,817,000 after acquiring an additional 389,121 shares during the period. Ameriprise Financial Inc. raised its position in Enerpac Tool Group by 230.6% during the fourth quarter. Ameriprise Financial Inc. now owns 535,310 shares of the company's stock valued at $21,996,000 after acquiring an additional 373,372 shares in the last quarter. Cerity Partners LLC acquired a new position in Enerpac Tool Group in the fourth quarter valued at approximately $8,338,000. Finally, Grandeur Peak Global Advisors LLC grew its stake 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 worth $8,563,000 after purchasing an additional 192,325 shares during the period. Hedge funds and other institutional investors own 97.70% of the company's stock.

Enerpac Tool Group Price Performance

NYSE:EPAC traded down $0.24 during trading hours on Thursday, reaching $42.95. 20,688 shares of the company were exchanged, compared to its average volume of 328,063. The company has a current ratio of 2.92, a quick ratio of 2.24 and a debt-to-equity ratio of 0.47. The firm has a market cap of $2.32 billion, a PE ratio of 26.19 and a beta of 1.20. Enerpac Tool Group Corp. has a twelve month low of $35.18 and a twelve month high of $51.91. The stock's 50-day moving average is $41.73 and its 200-day moving average is $43.76.

Enerpac Tool Group (NYSE:EPAC - Get Free Report) last released its earnings results on Monday, March 24th. The company reported $0.39 EPS for the quarter, hitting analysts' consensus estimates of $0.39. The business had revenue of $145.53 million during the quarter, compared to analysts' expectations of $139.80 million. Enerpac Tool Group had a net margin of 15.14% and a return on equity of 25.39%. On average, sell-side analysts anticipate that Enerpac Tool Group Corp. will post 1.78 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Wall Street Zen downgraded shares of Enerpac Tool Group from a "buy" rating to a "hold" rating in a report on Sunday, June 1st. CJS Securities initiated coverage on Enerpac Tool Group in a research report on Friday, March 14th. They set an "outperform" rating and a $53.00 target price on the stock.

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.