Allspring Global Investments Holdings LLC Sells 40,897 Shares of Enerpac Tool Group Corp. (NYSE:EPAC)

Allspring Global Investments Holdings LLC lessened its holdings in shares of Enerpac Tool Group Corp. (NYSE:EPAC) by 84.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,736 shares of the company’s stock after selling 40,897 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Enerpac Tool Group were worth $324,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Exchange Traded Concepts LLC bought a new stake in Enerpac Tool Group during the 3rd quarter valued at $40,000. Mechanics Bank Trust Department bought a new stake in Enerpac Tool Group during the 3rd quarter valued at $210,000. USA Financial Formulas increased its stake in Enerpac Tool Group by 15.5% during the 3rd quarter. USA Financial Formulas now owns 1,895 shares of the company’s stock valued at $79,000 after purchasing an additional 254 shares in the last quarter. GAMMA Investing LLC increased its stake in Enerpac Tool Group by 31.2% during the 3rd quarter. GAMMA Investing LLC now owns 1,000 shares of the company’s stock valued at $42,000 after purchasing an additional 238 shares in the last quarter. Finally, Handelsbanken Fonder AB increased its stake in Enerpac Tool Group by 28.6% during the 3rd quarter. Handelsbanken Fonder AB now owns 16,174 shares of the company’s stock valued at $678,000 after purchasing an additional 3,600 shares in the last quarter. Institutional investors own 97.70% of the company’s stock.

Enerpac Tool Group Price Performance

EPAC opened at $44.26 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.88 and a quick ratio of 2.31. The company has a market capitalization of $2.40 billion, a price-to-earnings ratio of 28.37 and a beta of 1.14. The firm’s fifty day moving average price is $42.12 and its two-hundred day moving average price is $39.71. Enerpac Tool Group Corp. has a 1 year low of $27.06 and a 1 year high of $45.17.

Enerpac Tool Group (NYSE:EPAC) last posted its quarterly earnings data on Tuesday, October 15th. The company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.03). The firm had revenue of $158.71 million for the quarter, compared to analysts’ expectations of $156.70 million. Enerpac Tool Group had a return on equity of 26.70% and a net margin of 14.55%. During the same period in the prior year, the firm earned $0.42 earnings per share. As a group, analysts anticipate that Enerpac Tool Group Corp. will post 1.78 earnings per share for the current fiscal year.

Enerpac Tool Group Announces Dividend

The company also recently disclosed an annual dividend, which was paid on Friday, October 18th. Shareholders of record on Monday, October 7th were issued a dividend of $0.04 per share. This represents a yield of 0.1%. The ex-dividend date of this dividend was Monday, October 7th. Enerpac Tool Group’s dividend payout ratio is 2.56%.

Insiders Place Their Bets

In related news, Director E James Ferland, Jr. sold 1,938 shares of the business’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $44.17, for a total value of $85,601.46. Following the transaction, the director now directly owns 86,047 shares of the company’s stock, valued at approximately $3,800,695.99. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.87% of the company’s stock.

Enerpac Tool Group Profile

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.