Enpro (NYSE:NPO) Hits New 52-Week High Following Strong Earnings

Enpro Inc. (NYSE:NPO) shares reached a new 52-week high during trading on Wednesday after the company announced better than expected quarterly earnings. The company traded as high as $203.93 and last traded at $209.16, with a volume of 10636 shares. The stock had previously closed at $195.40.

The industrial products company reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.10. Enpro had a return on equity of 9.71% and a net margin of 5.20%.

Enpro Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders 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 yield of 0.60%. The ex-dividend date is Wednesday, March 5th. This is an increase from Enpro’s previous quarterly dividend of $0.30. Enpro’s payout ratio is currently 46.69%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on NPO shares. Oppenheimer raised their price target on shares of Enpro from $170.00 to $215.00 and gave the stock an “outperform” rating in a research report on Monday, December 16th. StockNews.com downgraded shares of Enpro from a “buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Finally, KeyCorp upped their target price on Enpro from $180.00 to $220.00 and gave the stock an “overweight” rating in a research report on Thursday, December 12th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Synovus Financial Corp grew its holdings in shares of Enpro by 102.7% during the 3rd quarter. Synovus Financial Corp now owns 13,972 shares of the industrial products company’s stock valued at $2,266,000 after acquiring an additional 7,078 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Enpro by 4.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 106,271 shares of the industrial products company’s stock worth $17,235,000 after purchasing an additional 4,123 shares during the last quarter. Belmont Capital LLC acquired a new stake in Enpro in the 3rd quarter worth approximately $565,000. Stifel Financial Corp boosted its position in Enpro by 10.6% during the third quarter. Stifel Financial Corp now owns 10,414 shares of the industrial products company’s stock worth $1,689,000 after purchasing an additional 995 shares during the period. Finally, Harvey Partners LLC raised its position in shares of Enpro by 1.9% in the third quarter. Harvey Partners LLC now owns 212,500 shares of the industrial products company’s stock valued at $34,463,000 after purchasing an additional 4,000 shares during the period. 98.31% of the stock is owned by hedge funds and other institutional investors.

Enpro Price Performance

The company has a debt-to-equity ratio of 0.43, a current ratio of 2.76 and a quick ratio of 2.00. The stock’s 50 day moving average price is $178.85 and its two-hundred day moving average price is $167.06. The firm has a market capitalization of $4.37 billion, a price-to-earnings ratio of 81.00 and a beta of 1.49.

Enpro Company Profile

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.