Enerpac Tool Group (NYSE:EPAC) Shares Gap Down on Disappointing Earnings

Enerpac Tool Group Corp. (NYSE:EPAC - Get Free Report) 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 (EPS) for the quarter, missing analysts' consensus estimates 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 other news, Director E James Ferland, Jr. sold 1,938 shares of the firm's stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $44.17, for a total value of $85,601.46. Following the transaction, the director now owns 86,047 shares in the company, valued at $3,800,695.99. This trade represents a 2.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.87% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quarry LP grew its stake in Enerpac Tool Group by 110.7% in the 3rd quarter. Quarry LP now owns 830 shares of the company's stock valued at $35,000 after purchasing an additional 436 shares during the period. Exchange Traded Concepts LLC purchased a new position in shares of Enerpac Tool Group in the 3rd quarter worth about $40,000. GAMMA Investing LLC grew its position in Enerpac Tool Group by 31.2% during the third quarter. GAMMA Investing LLC now owns 1,000 shares of the company's stock valued at $42,000 after buying an additional 238 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Enerpac Tool Group during the third quarter worth about $42,000. Finally, USA Financial Formulas increased its holdings in Enerpac Tool Group by 15.5% during the third quarter. USA Financial Formulas now owns 1,895 shares of the company's stock worth $79,000 after buying an additional 254 shares during the last quarter. 97.70% of the stock is currently owned by hedge funds and other institutional investors.

Enerpac Tool Group Trading Down 2.5 %

The firm's 50-day simple moving average is $46.91 and its 200 day simple moving average is $42.32. The firm has a market cap of $2.43 billion, a P/E ratio of 28.76 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.

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.