Synovus Financial Corp Purchases 7,078 Shares of Enpro Inc. (NYSE:NPO)

Synovus Financial Corp lifted its position in Enpro Inc. (NYSE:NPO) by 102.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,972 shares of the industrial products company’s stock after acquiring an additional 7,078 shares during the quarter. Synovus Financial Corp owned 0.07% of Enpro worth $2,266,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Renaissance Technologies LLC increased its position in Enpro by 129.7% during the 2nd quarter. Renaissance Technologies LLC now owns 29,400 shares of the industrial products company’s stock valued at $4,280,000 after purchasing an additional 16,600 shares during the period. Belmont Capital LLC bought a new position in shares of Enpro during the third quarter valued at approximately $565,000. TD Asset Management Inc increased its holdings in Enpro by 24.5% during the second quarter. TD Asset Management Inc now owns 18,662 shares of the industrial products company’s stock valued at $2,717,000 after buying an additional 3,674 shares during the period. Segall Bryant & Hamill LLC raised its stake in Enpro by 3.7% in the third quarter. Segall Bryant & Hamill LLC now owns 140,657 shares of the industrial products company’s stock worth $22,812,000 after buying an additional 5,051 shares in the last quarter. Finally, Harvey Partners LLC lifted its holdings in Enpro by 1.9% during the third quarter. Harvey Partners LLC now owns 212,500 shares of the industrial products company’s stock worth $34,463,000 after buying an additional 4,000 shares during the period. 98.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on NPO shares. KeyCorp lifted their price target on Enpro from $180.00 to $220.00 and gave the company an “overweight” rating in a report on Thursday. StockNews.com upgraded Enpro from a “hold” rating to a “buy” rating in a research note on Tuesday, December 10th.

Insider Activity

In related news, CAO Steven R. Bower sold 300 shares of Enpro stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $162.50, for a total value of $48,750.00. Following the completion of the sale, the chief accounting officer now directly owns 130 shares in the company, valued at $21,125. This trade represents a 69.77 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.60% of the company’s stock.

Enpro Price Performance

Shares of NPO opened at $189.31 on Monday. The company has a 50 day moving average of $168.67 and a two-hundred day moving average of $159.02. The company has a quick ratio of 2.00, a current ratio of 2.76 and a debt-to-equity ratio of 0.43. Enpro Inc. has a twelve month low of $136.68 and a twelve month high of $197.94. The company has a market cap of $3.97 billion, a price-to-earnings ratio of 73.66 and a beta of 1.49.

Enpro (NYSE:NPO) last posted its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $1.74 earnings per share for the quarter, missing analysts’ consensus estimates of $1.87 by ($0.13). Enpro had a return on equity of 9.71% and a net margin of 5.20%. The business had revenue of $260.90 million during the quarter, compared to analyst estimates of $264.47 million. During the same period in the previous year, the business earned $1.58 EPS. The firm’s revenue for the quarter was up 4.1% compared to the same quarter last year. As a group, analysts predict that Enpro Inc. will post 6.89 earnings per share for the current fiscal year.

Enpro Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.63%. Enpro’s payout ratio is 46.69%.

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.