Short Interest in Enerpac Tool Group Corp. (NYSE:EPAC) Declines By 9.6%

Enerpac Tool Group Corp. (NYSE:EPAC - Get Free Report) saw a large drop in short interest in the month of September. As of September 30th, there was short interest totalling 1,040,000 shares, a drop of 9.6% from the September 15th total of 1,150,000 shares. Based on an average trading volume of 264,400 shares, the days-to-cover ratio is currently 3.9 days. Currently, 1.9% of the shares of the company are short sold.

Enerpac Tool Group Price Performance

Shares of EPAC traded up $1.52 during trading hours on Thursday, reaching $44.58. The company had a trading volume of 537,432 shares, compared to its average volume of 288,523. The company has a market capitalization of $2.42 billion, a price-to-earnings ratio of 29.33 and a beta of 1.15. Enerpac Tool Group has a 12-month low of $27.06 and a 12-month high of $44.63. The firm has a 50 day simple moving average of $41.14 and a 200-day simple moving average of $38.95. The company has a current ratio of 2.85, a quick ratio of 2.20 and a debt-to-equity ratio of 0.52.

Enerpac Tool Group (NYSE:EPAC - Get Free Report) last issued its quarterly earnings data on Tuesday, October 15th. The company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.03). The firm had revenue of $158.71 million for the quarter, compared to analyst estimates of $156.70 million. Enerpac Tool Group had a return on equity of 26.80% and a net margin of 14.13%. During the same period in the prior year, the firm posted $0.42 earnings per share. Research analysts expect that Enerpac Tool Group will post 1.75 earnings per share for the current year.

Enerpac Tool Group Announces Dividend

The business also recently disclosed an annual dividend, which will be paid on Friday, October 18th. Investors of record on Monday, October 7th will be given a dividend of $0.04 per share. The ex-dividend date of this dividend is Monday, October 7th. This represents a dividend yield of 0.1%. Enerpac Tool Group's dividend payout ratio is currently 2.63%.

Hedge Funds Weigh In On Enerpac Tool Group

Several hedge funds have recently bought and sold shares of EPAC. GAMMA Investing LLC increased its stake in shares of Enerpac Tool Group by 90.1% during the 1st quarter. GAMMA Investing LLC now owns 937 shares of the company's stock valued at $33,000 after acquiring an additional 444 shares during the last quarter. Exchange Traded Concepts LLC bought a new position in shares of Enerpac Tool Group during the third quarter worth about $40,000. USA Financial Formulas increased its holdings in shares of Enerpac Tool Group by 15.5% in the 3rd quarter. USA Financial Formulas now owns 1,895 shares of the company's stock valued at $79,000 after acquiring an additional 254 shares during the last quarter. CWM LLC lifted its position in shares of Enerpac Tool Group by 89.3% in the 2nd quarter. CWM LLC now owns 2,275 shares of the company's stock worth $87,000 after buying an additional 1,073 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. acquired a new position in Enerpac Tool Group in the second quarter valued at approximately $204,000. Hedge funds and other institutional investors own 97.70% of the company's stock.

About Enerpac Tool Group

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.

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