Bank of America Corp DE Lowers Stock Position in Enpro Inc. (NYSE:NPO)

Bank of America Corp DE cut its holdings in shares of Enpro Inc. (NYSE:NPO) by 16.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 57,669 shares of the industrial products company’s stock after selling 11,006 shares during the period. Bank of America Corp DE owned 0.27% of Enpro worth $9,945,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of NPO. Capital World Investors purchased a new position in shares of Enpro during the fourth quarter worth approximately $108,825,000. Neuberger Berman Group LLC grew its position in shares of Enpro by 23.2% during the fourth quarter. Neuberger Berman Group LLC now owns 537,660 shares of the industrial products company’s stock worth $92,719,000 after acquiring an additional 101,257 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Enpro during the fourth quarter worth approximately $11,067,000. Capital International Investors grew its position in shares of Enpro by 6.8% during the fourth quarter. Capital International Investors now owns 964,470 shares of the industrial products company’s stock worth $166,323,000 after acquiring an additional 60,998 shares during the last quarter. Finally, Northern Trust Corp grew its position in shares of Enpro by 20.8% during the fourth quarter. Northern Trust Corp now owns 268,542 shares of the industrial products company’s stock worth $46,310,000 after acquiring an additional 46,191 shares during the last quarter. 98.31% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NPO has been the subject of several recent research reports. Sidoti raised Enpro to a “strong-buy” rating in a report on Wednesday, April 23rd. KeyCorp decreased their price target on Enpro from $230.00 to $190.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Finally, Wall Street Zen raised Enpro from a “hold” rating to a “buy” rating in a report on Tuesday.

Enpro Price Performance

Shares of NYSE NPO opened at $175.73 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.59 and a quick ratio of 2.00. The stock has a fifty day moving average price of $161.49 and a 200 day moving average price of $173.64. Enpro Inc. has a 1-year low of $133.50 and a 1-year high of $214.58. The company has a market cap of $3.70 billion, a PE ratio of 50.79 and a beta of 1.51.

Enpro (NYSE:NPO) last released its earnings results on Tuesday, May 6th. The industrial products company reported $1.90 EPS for the quarter, beating analysts’ consensus estimates of $1.57 by $0.33. Enpro had a return on equity of 10.25% and a net margin of 6.95%. The company had revenue of $273.20 million during the quarter, compared to the consensus estimate of $266.23 million. During the same quarter last year, the company earned $1.57 earnings per share. Enpro’s quarterly revenue was up 6.1% compared to the same quarter last year. Sell-side analysts forecast that Enpro Inc. will post 7.38 EPS for the current year.

Enpro Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th will be issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date is Wednesday, June 4th. Enpro’s dividend payout ratio (DPR) is currently 30.85%.

Insider Buying and Selling at Enpro

In other Enpro news, CAO Steven R. Bower sold 997 shares of the firm’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $199.66, for a total value of $199,061.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.60% of the stock is owned by corporate insiders.

Enpro Company 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.