Allspring Global Investments Holdings LLC Cuts Holdings in Enpro Inc. (NYSE:NPO)

Allspring Global Investments Holdings LLC lessened its stake in Enpro Inc. (NYSE:NPO - Free Report) by 84.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,808 shares of the industrial products company's stock after selling 21,432 shares during the period. Allspring Global Investments Holdings LLC's holdings in Enpro were worth $657,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in NPO. Creative Planning boosted its holdings in Enpro by 32.9% during the third quarter. Creative Planning now owns 4,652 shares of the industrial products company's stock worth $754,000 after buying an additional 1,151 shares in the last quarter. Blue Trust Inc. grew its position in shares of Enpro by 357.4% during the 3rd quarter. Blue Trust Inc. now owns 526 shares of the industrial products company's stock valued at $85,000 after acquiring an additional 411 shares during the period. abrdn plc grew its holdings in Enpro by 1.5% in the third quarter. abrdn plc now owns 177,327 shares of the industrial products company's stock valued at $28,759,000 after purchasing an additional 2,654 shares during the period. Congress Asset Management Co. grew its holdings in Enpro by 4.2% in the third quarter. Congress Asset Management Co. now owns 309,042 shares of the industrial products company's stock valued at $50,120,000 after purchasing an additional 12,316 shares during the period. Finally, US Bancorp DE increased its position in shares of Enpro by 4.3% in the third quarter. US Bancorp DE now owns 10,242 shares of the industrial products company's stock valued at $1,661,000 after buying an additional 419 shares in the last quarter. Institutional investors and hedge funds own 98.31% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. KeyCorp lifted their price target on shares of Enpro from $180.00 to $220.00 and gave the company an "overweight" rating in a research note on Thursday, December 12th. StockNews.com cut Enpro from a "buy" rating to a "hold" rating in a report on Wednesday, December 18th. Finally, Oppenheimer boosted their price target on Enpro from $170.00 to $215.00 and gave the stock an "outperform" rating in a research report on Monday, December 16th.

Enpro Trading Down 4.5 %

Shares of NYSE NPO traded down $8.87 during trading on Thursday, reaching $186.37. The stock had a trading volume of 142,066 shares, compared to its average volume of 109,425. The business's 50-day moving average price is $180.63 and its 200-day moving average price is $169.41. Enpro Inc. has a fifty-two week low of $136.68 and a fifty-two week high of $214.58. The company has a market cap of $3.95 billion, a P/E ratio of 53.86 and a beta of 1.49. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.00 and a current ratio of 2.59.

Enpro (NYSE:NPO - Get Free Report) last issued its earnings results on Wednesday, February 19th. The industrial products company reported $1.57 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.10. Enpro had a net margin of 6.95% and a return on equity of 10.25%. The firm had revenue of $258.40 million for the quarter, compared to analysts' expectations of $250.10 million. During the same quarter last year, the company earned $1.19 earnings per share. The firm's revenue was up 3.7% compared to the same quarter last year. On average, equities research analysts predict that Enpro Inc. will post 7.38 EPS for the current fiscal year.

Enpro Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 0.67%. The ex-dividend date is Wednesday, March 5th. This is a positive change from Enpro's previous quarterly dividend of $0.30. Enpro's dividend payout ratio (DPR) is 35.84%.

Insider Buying and Selling

In related news, CAO Steven R. Bower sold 997 shares of the stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $199.66, for a total value of $199,061.02. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.60% of the stock is owned by company insiders.

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.