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

Enerpac Tool Group Corp. (NYSE:EPAC)’s stock price gapped down before the market opened on Wednesday following a dissappointing earnings announcement. The stock had previously closed at $43.53, but opened at $38.90. Enerpac Tool Group shares last traded at $40.02, with a volume of 111,465 shares trading hands.

The company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.03). Enerpac Tool Group had a net margin of 14.13% and a return on equity of 26.80%. The company had revenue of $158.71 million for the quarter, compared to the consensus estimate of $156.70 million. During the same quarter last year, the company earned $0.42 earnings per share.

Enerpac Tool Group Announces Dividend

The business also recently disclosed an annual dividend, which will be paid on Friday, October 18th. Shareholders of record on Monday, October 7th will be paid a dividend of $0.04 per share. The ex-dividend date is Monday, October 7th. This represents a yield of 0.1%. Enerpac Tool Group’s dividend payout ratio (DPR) is 2.63%.

Institutional Trading of Enerpac Tool Group

A number of institutional investors and hedge funds have recently modified their holdings of EPAC. GAMMA Investing LLC raised its holdings in shares of Enerpac Tool Group by 90.1% during the first quarter. GAMMA Investing LLC now owns 937 shares of the company’s stock worth $33,000 after purchasing an additional 444 shares during the period. Exchange Traded Concepts LLC acquired a new stake in shares of Enerpac Tool Group in the 3rd quarter worth about $40,000. USA Financial Formulas increased its holdings in shares of Enerpac Tool Group by 15.5% in the 3rd quarter. USA Financial Formulas now owns 1,895 shares of the company’s stock worth $79,000 after acquiring an additional 254 shares during the period. CWM LLC increased its holdings in shares of Enerpac Tool Group by 89.3% in the 2nd quarter. CWM LLC now owns 2,275 shares of the company’s stock worth $87,000 after acquiring an additional 1,073 shares during the period. Finally, Hennion & Walsh Asset Management Inc. acquired a new stake in shares of Enerpac Tool Group in the 2nd quarter worth about $204,000. 97.70% of the stock is owned by institutional investors and hedge funds.

Enerpac Tool Group Stock Performance

The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.20 and a current ratio of 2.85. The stock’s fifty day moving average is $41.23 and its two-hundred day moving average is $38.99. The firm has a market cap of $2.42 billion, a price-to-earnings ratio of 29.33 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.