abrdn plc Cuts Holdings in Enpro Inc. (NYSE:NPO)

abrdn plc lowered its stake in Enpro Inc. (NYSE:NPO) by 11.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 208,254 shares of the industrial products company’s stock after selling 27,796 shares during the period. abrdn plc owned about 1.00% of Enpro worth $32,642,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wellington Management Group LLP lifted its stake in Enpro by 25.2% in the third quarter. Wellington Management Group LLP now owns 282,082 shares of the industrial products company’s stock worth $34,186,000 after acquiring an additional 56,757 shares during the last quarter. Welch Group LLC purchased a new stake in shares of Enpro during the 4th quarter worth $313,000. Nordea Investment Management AB grew its stake in shares of Enpro by 326.2% during the third quarter. Nordea Investment Management AB now owns 17,237 shares of the industrial products company’s stock worth $2,115,000 after purchasing an additional 13,193 shares in the last quarter. Kennedy Capital Management LLC increased its holdings in Enpro by 352.5% in the third quarter. Kennedy Capital Management LLC now owns 64,937 shares of the industrial products company’s stock valued at $7,870,000 after buying an additional 50,587 shares during the last quarter. Finally, Congress Asset Management Co. MA raised its stake in Enpro by 7.2% in the third quarter. Congress Asset Management Co. MA now owns 263,793 shares of the industrial products company’s stock valued at $31,969,000 after buying an additional 17,631 shares in the last quarter. Hedge funds and other institutional investors own 98.31% of the company’s stock.

Analyst Ratings Changes

Separately, TheStreet raised Enpro from a “c+” rating to a “b-” rating in a research report on Thursday, February 1st.

Enpro Stock Performance

Shares of Enpro stock opened at $148.92 on Tuesday. The firm has a market capitalization of $3.12 billion, a P/E ratio of 140.49 and a beta of 1.55. The company has a quick ratio of 2.59, a current ratio of 3.31 and a debt-to-equity ratio of 0.45. Enpro Inc. has a 52 week low of $92.04 and a 52 week high of $170.63. The firm’s 50 day moving average is $158.93 and its two-hundred day moving average is $145.09.

Enpro (NYSE:NPO) last posted its earnings results on Tuesday, February 20th. The industrial products company reported $1.19 EPS for the quarter, missing analysts’ consensus estimates of $1.47 by ($0.28). Enpro had a net margin of 2.10% and a return on equity of 9.67%. The company had revenue of $241.90 million during the quarter, compared to analysts’ expectations of $264.10 million. During the same period last year, the business earned $1.47 earnings per share. The company’s quarterly revenue was down 11.0% on a year-over-year basis. Research analysts forecast that Enpro Inc. will post 7.43 EPS for the current fiscal year.

Enpro Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, March 6th were given a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, March 5th. This is a boost from Enpro’s previous quarterly dividend of $0.29. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.81%. Enpro’s dividend payout ratio is 113.21%.

Insider Buying and Selling

In other news, Director Der Graaf Kees Van sold 1,200 shares of the stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $160.01, for a total value of $192,012.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Enpro news, Director Der Graaf Kees Van sold 1,200 shares of Enpro stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $160.01, for a total value of $192,012.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Robert Savage Mclean sold 6,400 shares of the stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $158.32, for a total transaction of $1,013,248.00. Following the sale, the chief accounting officer now owns 28,961 shares of the company’s stock, valued at approximately $4,585,105.52. The disclosure for this sale can be found here. 1.70% of the stock is currently 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.