Paradice Investment Management Cuts Stake in Enpro Inc.

Paradice Investment Management LLC has reduced its investment in Enpro Inc. (NYSE:NPO) by 72.2% during the fourth quarter, as reported in the firm's latest filing with the Securities and Exchange Commission (SEC). The investment management company now holds 29,478 shares in the industrial products firm after selling off 76,477 shares throughout the quarter. Enpro comprises about 1.0% of Paradice Investment Management's overall investment portfolio, making it the 22nd largest holding in their collections. At the close of the most recent reporting period, Paradice Investment Management maintained ownership of 0.14% of Enpro, which is valued at $5,083,000.

Several other institutional investors have also made adjustments to their positions in Enpro. For instance, Barclays PLC significantly increased its stake by 115.6% during the third quarter, acquiring an additional 32,544 shares. As a result, Barclays PLC now holds 60,694 shares, valued at approximately $9,845,000. Meanwhile, Congress Asset Management Co. enhanced its holdings by 4.2%, owning 309,042 shares after a rise of 12,316 shares in the last quarter, valuing this stake at $50,120,000. Citigroup Inc. also grew its position by 80.7%, now owning 26,381 shares worth $4,278,000 after purchasing an additional 11,785 shares. FMR LLC witnessed a smaller increase of 0.9%, possessing 1,241,736 shares valued at $201,385,000, with an additional purchase of 11,643 shares. Lastly, State Street Corp raised its position in Enpro by 1.1%, now owning 807,572 shares worth $130,972,000 after acquiring 9,127 shares. Collectively, institutional investors and hedge funds control approximately 98.31% of Enpro's shares.

Analyst Opinions

In recent weeks, various research firms have provided insights on Enpro. Oppenheimer increased its price target for Enpro shares from $170.00 to $215.00, assigning an 'outperform' rating. KeyCorp raised its price target from $180.00 to $220.00 while maintaining an 'overweight' rating on the stock. However, StockNews.com chose to lower its rating for Enpro from 'buy' to 'hold.'

Stock Performance Overview

As of Tuesday, Enpro shares opened at $192.73. The company boasts a quick ratio of 2.00, a current ratio of 2.76, and a debt-to-equity ratio of 0.43. With a market capitalization of $4.05 billion and a price-to-earnings (P/E) ratio of 74.99, Enpro has experienced a 52-week low of $136.68 and a high of $197.94. The 50-day moving average price is noted at $178.85, while the 200-day moving average is $167.06.

Dividend Increase

Recently, Enpro declared a quarterly dividend of $0.31, scheduled for distribution on Wednesday, March 19th. This marks an increase from the previous quarterly dividend of $0.30. The ex-dividend date is set for Wednesday, March 5th. Annually, this represents a total dividend of $1.24, yielding a 0.64%. Presently, Enpro's dividend payout ratio (DPR) stands at 46.69%.

Company Background

Enpro Inc. is engaged in the design, development, manufacture, and marketing of proprietary, value-added products and solutions aimed at safeguarding critical environments across multiple regions including the United States and Europe. The firm operates through two primary segments: Sealing Technologies and Advanced Surface Technologies. The Sealing Technologies segment includes a wide range of offerings such as single-use hygienic seals, tubing, components and assemblies, and various types of gaskets and seals used in multiple industries ranging from chemical processing to aerospace.

Investment, Enpro, Dividends