Martingale Asset Management L P Trims Stock Position in Enerpac Tool Group Corp. (NYSE:EPAC)

Martingale Asset Management L P cut its stake in Enerpac Tool Group Corp. (NYSE:EPAC) by 31.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 37,578 shares of the company’s stock after selling 17,400 shares during the period. Martingale Asset Management L P owned about 0.07% of Enerpac Tool Group worth $1,574,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Exchange Traded Concepts LLC acquired a new position in shares of Enerpac Tool Group during the third quarter worth about $40,000. GAMMA Investing LLC grew its position in shares of Enerpac Tool Group by 31.2% in the third quarter. GAMMA Investing LLC now owns 1,000 shares of the company’s stock valued at $42,000 after purchasing an additional 238 shares during the last quarter. USA Financial Formulas grew its position in shares of Enerpac Tool Group by 15.5% in the third quarter. USA Financial Formulas now owns 1,895 shares of the company’s stock valued at $79,000 after purchasing an additional 254 shares during the last quarter. CWM LLC lifted its stake in shares of Enerpac Tool Group by 89.3% during the second quarter. CWM LLC now owns 2,275 shares of the company’s stock valued at $87,000 after buying an additional 1,073 shares during the period. Finally, Mechanics Bank Trust Department purchased a new position in shares of Enerpac Tool Group during the third quarter valued at approximately $210,000. 97.70% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director E James Ferland, Jr. sold 1,938 shares of the firm’s stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $44.17, for a total transaction of $85,601.46. Following the completion of the sale, the director now directly owns 86,047 shares of the company’s stock, valued at approximately $3,800,695.99. This trade represents a 2.20 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.87% of the company’s stock.

Enerpac Tool Group Stock Performance

Shares of EPAC opened at $48.26 on Monday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.31 and a current ratio of 2.88. The company has a market capitalization of $2.62 billion, a price-to-earnings ratio of 30.94 and a beta of 1.14. Enerpac Tool Group Corp. has a 1 year low of $27.11 and a 1 year high of $51.91. The company’s 50 day simple moving average is $45.30 and its 200 day simple moving average is $41.43.

Enerpac Tool Group (NYSE:EPAC) last posted its quarterly earnings results on Tuesday, October 15th. The company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.03). The company had revenue of $158.71 million for the quarter, compared to analysts’ expectations of $156.70 million. Enerpac Tool Group had a return on equity of 26.70% and a net margin of 14.55%. During the same period in the prior year, the business earned $0.42 EPS. On average, sell-side analysts predict that Enerpac Tool Group Corp. will post 1.81 EPS for the current year.

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.