Zacks Investment Research upgraded shares of EnPro Industries (NYSE:NPO) from a sell rating to a buy rating in a research note released on Saturday morning. 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. “
NPO has been the subject of several other reports. KeyCorp raised EnPro Industries from a sector weight rating to an overweight rating and set a $105.00 price objective for the company in a report on Friday, December 8th. Oppenheimer lifted their price objective on EnPro Industries from $85.00 to $100.00 and gave the stock an outperform rating in a report on Thursday, December 14th. B. Riley set a $100.00 price objective on EnPro Industries and gave the stock a buy rating in a report on Tuesday, November 21st. Finally, FBR & Co set a $100.00 price objective on EnPro Industries and gave the stock a buy rating in a report on Tuesday, October 31st. One investment analyst has rated the stock with a sell rating and six have issued a buy rating to the company. EnPro Industries has a consensus rating of Buy and an average price target of $96.00.
EnPro Industries (NYSE:NPO) last issued 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 firm had revenue of $362.50 million during the quarter, compared to analysts’ expectations of $348.10 million. EnPro Industries had a return on equity of 8.05% and a net margin of 40.39%. analysts predict that EnPro Industries will post 3.87 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 21st. Shareholders of record on Wednesday, March 7th will be given a dividend of $0.24 per share. This is an increase from EnPro Industries’s previous quarterly dividend of $0.22. The ex-dividend date is Tuesday, March 6th. This represents a $0.96 annualized dividend and a yield of 1.24%. EnPro Industries’s dividend payout ratio (DPR) is presently 3.63%.
EnPro Industries declared that its board has authorized a stock repurchase program on Monday, October 30th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the industrial products company to reacquire shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.
A number of institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. increased its position in EnPro Industries by 2.0% during the fourth quarter. BlackRock Inc. now owns 2,646,800 shares of the industrial products company’s stock worth $247,503,000 after buying an additional 52,232 shares in the last quarter. Vanguard Group Inc. increased its position 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. Silver Point Capital L.P. increased its position in EnPro Industries by 2.4% during the third quarter. Silver Point Capital L.P. now owns 1,895,600 shares of the industrial products company’s stock worth $152,653,000 after buying an additional 45,000 shares in the last quarter. Dimensional Fund Advisors LP increased its position in EnPro Industries by 3.2% during the third quarter. Dimensional Fund Advisors LP now owns 723,406 shares of the industrial products company’s stock worth $58,256,000 after buying an additional 22,349 shares in the last quarter. Finally, Macquarie Group Ltd. increased its position in EnPro Industries by 17.3% during the fourth quarter. Macquarie Group Ltd. now owns 591,792 shares of the industrial products company’s stock worth $55,338,000 after buying an additional 87,074 shares in the last quarter. 94.22% of the stock is owned by institutional investors.
About EnPro Industries
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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