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.

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

Insider Buying and Selling at Enerpac Tool Group

In related news, Director E James Ferland, Jr. sold 1,938 shares of Enerpac Tool Group stock in a transaction 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 transaction, the director now directly owns 86,047 shares in the company, valued at $3,800,695.99. This trade represents a 2.20 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.87% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Intech Investment Management LLC purchased a new stake in shares of Enerpac Tool Group in the 3rd quarter worth about $442,000. Quest Partners LLC acquired a new stake in shares of Enerpac Tool Group in the third quarter valued at approximately $1,312,000. Hennion & Walsh Asset Management Inc. purchased a new stake in Enerpac Tool Group in the 2nd quarter worth approximately $204,000. Charles Schwab Investment Management Inc. raised its holdings in Enerpac Tool Group by 1.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 621,456 shares of the company’s stock valued at $26,033,000 after acquiring an additional 6,903 shares during the last quarter. Finally, Sei Investments Co. lifted its stake in shares of Enerpac Tool Group by 137.5% during the 2nd quarter. Sei Investments Co. now owns 179,662 shares of the company’s stock worth $6,859,000 after purchasing an additional 104,019 shares during the period. 97.70% of the stock is owned by hedge funds and other institutional investors.

Enerpac Tool Group Stock Down 3.8 %

The firm has a market cap of $2.40 billion, a price-to-earnings ratio of 28.38 and a beta of 1.15. The company has a quick ratio of 2.31, a current ratio of 2.88 and a debt-to-equity ratio of 0.48. The firm has a fifty day moving average price of $46.86 and a 200-day moving average price of $42.31.

Enerpac Tool Group Company Profile

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.