Enpro (NYSE:NPO) Sets New 52-Week High on Earnings Beat

Enpro Inc. (NYSE:NPO)’s share price hit a new 52-week high on Wednesday following a better than expected earnings announcement. The company traded as high as $203.93 and last traded at $209.16, with a volume of 10636 shares traded. The stock had previously closed at $195.40.

The industrial products company reported $1.57 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.10. The company had revenue of $258.40 million during the quarter, compared to analysts’ expectations of $250.10 million. Enpro had a return on equity of 9.71% and a net margin of 5.20%. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.19 earnings per share.

Enpro Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 0.60%. This is an increase from Enpro’s previous quarterly dividend of $0.30. The ex-dividend date is Wednesday, March 5th. Enpro’s dividend payout ratio is presently 46.69%.

Analyst Upgrades and Downgrades

NPO has been the topic of several recent analyst reports. Oppenheimer increased their target price on shares of Enpro from $170.00 to $215.00 and gave the stock an “outperform” rating in a research note on Monday, December 16th. KeyCorp increased their price objective on Enpro from $180.00 to $220.00 and gave the stock an “overweight” rating in a research report on Thursday, December 12th. Finally, StockNews.com cut Enpro from a “buy” rating to a “hold” rating in a research report on Wednesday, December 18th.

Hedge Funds Weigh In On Enpro

A number of institutional investors have recently made changes to their positions in the stock. Pitcairn Co. lifted its holdings in shares of Enpro by 2.0% during the 4th quarter. Pitcairn Co. now owns 3,913 shares of the industrial products company’s stock worth $675,000 after acquiring an additional 78 shares during the last quarter. Sanctuary Advisors LLC lifted its stake in Enpro by 5.8% during the fourth quarter. Sanctuary Advisors LLC now owns 1,580 shares of the industrial products company’s stock worth $295,000 after purchasing an additional 86 shares during the last quarter. Heritage Family Offices LLP boosted its holdings in shares of Enpro by 4.7% in the 4th quarter. Heritage Family Offices LLP now owns 1,934 shares of the industrial products company’s stock worth $334,000 after purchasing an additional 87 shares in the last quarter. Summit Investment Advisors Inc. increased its position in shares of Enpro by 5.1% during the 4th quarter. Summit Investment Advisors Inc. now owns 2,197 shares of the industrial products company’s stock valued at $379,000 after purchasing an additional 106 shares during the last quarter. Finally, Xponance Inc. raised its holdings in shares of Enpro by 8.7% during the 4th quarter. Xponance Inc. now owns 1,494 shares of the industrial products company’s stock valued at $258,000 after buying an additional 119 shares in the last quarter. Institutional investors own 98.31% of the company’s stock.

Enpro Trading Up 5.8 %

The stock has a fifty day moving average of $179.30 and a two-hundred day moving average of $167.63. The company has a market capitalization of $4.34 billion, a PE ratio of 80.46 and a beta of 1.49. The company has a current ratio of 2.76, a quick ratio of 2.00 and a debt-to-equity ratio of 0.43.

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.