Index Fund Advisors Inc. Purchases New Holdings in Enerpac Tool Group Corp. $EPAC

Index Fund Advisors Inc. acquired a new position in shares of Enerpac Tool Group Corp. (NYSE:EPAC) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 9,920 shares of the company’s stock, valued at approximately $402,000.

A number of other institutional investors have also modified their holdings of the stock. Principal Financial Group Inc. raised its stake in shares of Enerpac Tool Group by 3.2% during the first quarter. Principal Financial Group Inc. now owns 296,448 shares of the company’s stock worth $13,299,000 after purchasing an additional 9,177 shares during the last quarter. Janney Montgomery Scott LLC raised its position in Enerpac Tool Group by 14.9% during the 1st quarter. Janney Montgomery Scott LLC now owns 7,051 shares of the company’s stock worth $316,000 after buying an additional 917 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Enerpac Tool Group by 6.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 6,845 shares of the company’s stock worth $307,000 after acquiring an additional 440 shares during the period. Nuveen LLC purchased a new stake in shares of Enerpac Tool Group in the first quarter valued at about $12,804,000. Finally, SG Americas Securities LLC increased its stake in shares of Enerpac Tool Group by 332.7% during the first quarter. SG Americas Securities LLC now owns 10,834 shares of the company’s stock worth $486,000 after acquiring an additional 8,330 shares during the period. Institutional investors and hedge funds own 97.70% of the company’s stock.

Wall Street Analysts Forecast Growth

EPAC has been the subject of a number of recent analyst reports. Roth Capital began coverage on shares of Enerpac Tool Group in a research report on Friday, September 5th. They issued a “buy” rating and a $48.00 price objective for the company. Zacks Research raised Enerpac Tool Group to a “hold” rating in a report on Monday, September 8th. Wall Street Zen lowered Enerpac Tool Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 26th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Enerpac Tool Group in a research report on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Enerpac Tool Group currently has a consensus rating of “Moderate Buy” and an average target price of $50.50.

Insider Buying and Selling

In other Enerpac Tool Group news, Director E James Ferland, Jr. sold 4,224 shares of the firm’s stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $40.99, for a total transaction of $173,141.76. Following the completion of the transaction, the director directly owned 94,136 shares in the company, valued at approximately $3,858,634.64. This trade represents a 4.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.10% of the company’s stock.

Enerpac Tool Group Stock Performance

NYSE EPAC opened at $38.60 on Monday. The business has a 50 day moving average price of $41.46 and a 200 day moving average price of $41.16. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.90 and a quick ratio of 2.24. The company has a market capitalization of $2.09 billion, a P/E ratio of 23.68 and a beta of 1.12. Enerpac Tool Group Corp. has a 1-year low of $36.51 and a 1-year high of $51.91.

Enerpac Tool Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Tuesday, October 7th will be given a $0.04 dividend. The ex-dividend date is Tuesday, October 7th. This represents a $0.16 annualized dividend and a dividend yield of 0.4%. Enerpac Tool Group’s payout ratio is currently 2.45%.

Enerpac Tool Group 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.