Enerpac Tool Group (NYSE:EPAC) Shares Gap Down on Disappointing Earnings

Shares of Enerpac Tool Group Corp. (NYSE:EPAC) gapped down before the market opened on Thursday following a dissappointing earnings announcement. The stock had previously closed at $46.01, but opened at $43.66. Enerpac Tool Group shares last traded at $44.80, with a volume of 35,854 shares changing hands.

The company reported $0.40 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.01). Enerpac Tool Group had a net margin of 14.55% and a return on equity of 26.70%.

Insider Buying and Selling

In related news, Director E James Ferland, Jr. sold 1,938 shares of the company’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $44.17, for a total value of $85,601.46. Following the completion of the sale, the director now owns 86,047 shares in the company, valued at approximately $3,800,695.99. This represents a 2.20 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.87% of the company’s stock.

Institutional Trading of Enerpac Tool Group

Several large investors have recently added to or reduced their stakes in the company. Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of Enerpac Tool Group by 208.4% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,034,256 shares of the company’s stock valued at $154,028,000 after purchasing an additional 2,726,293 shares during the period. State Street Corp increased its stake in Enerpac Tool Group by 16.3% in the 3rd quarter. State Street Corp now owns 2,393,472 shares of the company’s stock valued at $100,263,000 after buying an additional 336,323 shares during the period. Sei Investments Co. lifted its position in Enerpac Tool Group by 137.5% in the 2nd quarter. Sei Investments Co. now owns 179,662 shares of the company’s stock worth $6,859,000 after buying an additional 104,019 shares in the last quarter. Barclays PLC boosted its stake in shares of Enerpac Tool Group by 321.7% during the 3rd quarter. Barclays PLC now owns 107,979 shares of the company’s stock valued at $4,524,000 after buying an additional 82,376 shares during the period. Finally, Squarepoint Ops LLC purchased a new position in shares of Enerpac Tool Group during the 2nd quarter valued at $3,106,000. 97.70% of the stock is owned by institutional investors and hedge funds.

Enerpac Tool Group Stock Performance

The company has a current ratio of 2.88, a quick ratio of 2.31 and a debt-to-equity ratio of 0.48. The firm’s fifty day moving average price is $46.92 and its 200 day moving average price is $42.36. The firm has a market capitalization of $2.39 billion, a PE ratio of 28.31 and a beta of 1.15.

About Enerpac Tool Group

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.