Bank of New York Mellon Corp Sells 22,294 Shares of Enerpac Tool Group Corp. (NYSE:EPAC)

Bank of New York Mellon Corp trimmed its position in Enerpac Tool Group Corp. (NYSE:EPAC) by 3.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 594,205 shares of the company’s stock after selling 22,294 shares during the period. Bank of New York Mellon Corp owned 1.10% of Enerpac Tool Group worth $26,656,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans grew its stake in shares of 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 worth $20,351,000 after acquiring an additional 452,641 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in shares of 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 valued at $16,817,000 after purchasing an additional 389,121 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in Enerpac Tool Group by 230.6% in 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 during the period. Cerity Partners LLC bought a new position in Enerpac Tool Group in the fourth quarter valued at about $8,338,000. Finally, Grandeur Peak Global Advisors LLC lifted its holdings in Enerpac Tool Group by 1,197.5% in the fourth quarter. Grandeur Peak Global Advisors LLC now owns 208,385 shares of the company’s stock valued at $8,563,000 after acquiring an additional 192,325 shares during the period. 97.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised Enerpac Tool Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 5th.

Enerpac Tool Group Price Performance

Shares of EPAC stock opened at $37.27 on Thursday. Enerpac Tool Group Corp. has a 52-week low of $36.51 and a 52-week high of $51.91. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.24 and a current ratio of 2.90. The firm has a market capitalization of $2.02 billion, a P/E ratio of 22.87 and a beta of 1.16. The stock has a 50 day moving average price of $41.96 and a 200 day moving average price of $42.65.

Enerpac Tool Group (NYSE:EPAC) last issued its earnings results on Monday, June 23rd. The company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.04. Enerpac Tool Group had a return on equity of 24.04% and a net margin of 14.65%. The business had revenue of $158.66 million during the quarter, compared to analyst estimates of $159.35 million. During the same period in the previous year, the company posted $0.47 EPS. As a group, sell-side analysts predict that Enerpac Tool Group Corp. will post 1.78 earnings per share for the current year.

About Enerpac Tool Group

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.