State of New Jersey Common Pension Fund D Decreases Stake in Enpro Inc. (NYSE:NPO)

State of New Jersey Common Pension Fund D reduced its position in Enpro Inc. (NYSE:NPO) by 26.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,842 shares of the industrial products company’s stock after selling 4,719 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.06% of Enpro worth $1,869,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NPO. Swedbank AB purchased a new position in Enpro in the 1st quarter valued at about $28,691,000. Norges Bank purchased a new position in Enpro in the 4th quarter valued at about $24,026,000. F M Investments LLC purchased a new position in Enpro in the 2nd quarter valued at about $14,315,000. Schroder Investment Management Group boosted its position in Enpro by 51.3% in the 4th quarter. Schroder Investment Management Group now owns 104,837 shares of the industrial products company’s stock valued at $16,432,000 after buying an additional 35,546 shares during the last quarter. Finally, Congress Asset Management Co. MA boosted its position in Enpro by 10.5% in the 1st quarter. Congress Asset Management Co. MA now owns 312,823 shares of the industrial products company’s stock valued at $52,795,000 after buying an additional 29,694 shares during the last quarter. 98.31% of the stock is owned by hedge funds and other institutional investors.

Enpro Stock Performance

Shares of NPO stock opened at $159.34 on Monday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.90 and a current ratio of 2.72. Enpro Inc. has a one year low of $106.08 and a one year high of $176.13. The company’s 50-day simple moving average is $156.91 and its 200-day simple moving average is $153.99. The stock has a market capitalization of $3.34 billion, a price-to-earnings ratio of -1,138.14 and a beta of 1.40.

Enpro (NYSE:NPO) last released its quarterly earnings data on Tuesday, August 6th. The industrial products company reported $2.08 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.23. The firm had revenue of $271.90 million for the quarter, compared to analyst estimates of $270.90 million. Enpro had a net margin of 4.14% and a return on equity of 9.54%. Enpro’s quarterly revenue was down 1.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.83 earnings per share. Equities analysts anticipate that Enpro Inc. will post 7.4 earnings per share for the current fiscal year.

Enpro Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $1.20 annualized dividend and a yield of 0.75%. Enpro’s dividend payout ratio (DPR) is -857.14%.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Enpro from a “hold” rating to a “buy” rating in a research report on Monday, September 2nd.

Insider Buying and Selling

In other Enpro news, CAO Steven R. Bower sold 1,548 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $150.06, for a total value of $232,292.88. Following the sale, the chief accounting officer now owns 604 shares in the company, valued at $90,636.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.60% of the stock is owned by company insiders.

About Enpro

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.