Zacks Investment Research upgraded shares of EnPro Industries (NYSE:NPO) from a sell rating to a buy rating in a research note published on Saturday. Zacks Investment Research currently has $86.00 price objective on the industrial products company’s stock.
According to Zacks, “EnPro Industries, Inc. is a diversified manufacturer of proprietary engineered products used in critical applications. EnPro Industries are a leader in sealing technologies, metal polymer and filament wound bearings, components and service for reciprocating compressors, diesel and dual-fuel engines and other solutions that meet the needs of industries worldwide. EnPro Industries commitment to innovation, quality and value has propelled our brands to wide recognition and leading positions in their markets. EnPro businesses manufacture high quality products and provide high quality services to the customers. These products and services are sold into more than 40 distinct industries with thousands of applications, ranging from jet engines to chemical plants, oil wells to semiconductor clean rooms and Navy ships to tractor-trailer trucks. EnPro operates manufacturing facilities in North and South America, Europe and Asia. “
Several other brokerages also recently issued reports on NPO. Oppenheimer raised their price objective on shares of EnPro Industries from $85.00 to $100.00 and gave the stock an outperform rating in a research note on Thursday, December 14th. KeyCorp upgraded shares of EnPro Industries from a sector weight rating to an overweight rating and set a $105.00 price objective on the stock in a research note on Friday, December 8th. B. Riley restated a buy rating on shares of EnPro Industries in a research note on Wednesday, November 1st. Finally, FBR & Co set a $100.00 price target on shares of EnPro Industries and gave the stock a buy rating in a research note on Tuesday, October 31st. One analyst has rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $96.00.
EnPro Industries (NYSE:NPO) last announced its quarterly earnings data on Tuesday, February 13th. The industrial products company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.02. The business had revenue of $362.50 million for the quarter, compared to the consensus estimate of $348.10 million. EnPro Industries had a net margin of 40.39% and a return on equity of 8.05%. research analysts expect that EnPro Industries will post 3.87 EPS for the current year.
EnPro Industries announced that its board has authorized a share buyback program on Monday, October 30th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the industrial products company to reacquire shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 21st. Shareholders of record on Wednesday, March 7th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Tuesday, March 6th. This represents a $0.96 dividend on an annualized basis and a yield of 1.24%. This is an increase from EnPro Industries’s previous quarterly dividend of $0.22. EnPro Industries’s payout ratio is currently 3.63%.
A number of institutional investors and hedge funds have recently bought and sold shares of NPO. Northern Trust Corp boosted its stake in EnPro Industries by 1.2% during the second quarter. Northern Trust Corp now owns 282,334 shares of the industrial products company’s stock worth $20,149,000 after buying an additional 3,476 shares in the last quarter. Vanguard Group Inc. boosted its stake in EnPro Industries by 1.0% during the second quarter. Vanguard Group Inc. now owns 1,922,369 shares of the industrial products company’s stock worth $137,199,000 after buying an additional 19,621 shares in the last quarter. Parametric Portfolio Associates LLC boosted its stake in EnPro Industries by 18.2% during the second quarter. Parametric Portfolio Associates LLC now owns 78,756 shares of the industrial products company’s stock worth $5,621,000 after buying an additional 12,121 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in EnPro Industries by 9.9% during the second quarter. Goldman Sachs Group Inc. now owns 17,029 shares of the industrial products company’s stock worth $1,216,000 after buying an additional 1,529 shares in the last quarter. Finally, State Street Corp boosted its stake in EnPro Industries by 3.8% during the second quarter. State Street Corp now owns 529,442 shares of the industrial products company’s stock worth $37,786,000 after buying an additional 19,542 shares in the last quarter. Hedge funds and other institutional investors own 93.12% of the company’s stock.
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EnPro Industries Company Profile
EnPro Industries, Inc is engaged in the designing, developing, manufacturing and marketing engineered industrial products. It operates through three segments. The Sealing Products segment includes three operating divisions: Garlock, which designs, manufactures and sells sealing products; Technetics, which designs, manufactures and sells metal seals and elastomeric seals, among others, and Stemco LP (Stemco), which designs, manufactures and sells heavy-duty truck wheel-end components and systems.
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