Verition Fund Management LLC Purchases New Shares in Enerpac Tool Group Corp. (NYSE:EPAC)

Verition Fund Management LLC acquired a new position in shares of Enerpac Tool Group Corp. (NYSE:EPAC) in the 3rd quarter, Holdings Channel.com reports. The fund acquired 7,716 shares of the company’s stock, valued at approximately $323,000.

Several other institutional investors and hedge funds also recently bought and sold shares of EPAC. Exchange Traded Concepts LLC bought a new stake in shares of Enerpac Tool Group in the 3rd quarter worth about $40,000. GAMMA Investing LLC lifted its stake in Enerpac Tool Group by 31.2% in the third quarter. GAMMA Investing LLC now owns 1,000 shares of the company’s stock worth $42,000 after purchasing an additional 238 shares during the last quarter. USA Financial Formulas boosted its position in shares of Enerpac Tool Group by 15.5% during the third quarter. USA Financial Formulas now owns 1,895 shares of the company’s stock valued at $79,000 after buying an additional 254 shares during the period. CWM LLC grew its stake in shares of Enerpac Tool Group by 89.3% during the second quarter. CWM LLC now owns 2,275 shares of the company’s stock valued at $87,000 after buying an additional 1,073 shares during the last quarter. Finally, Mechanics Bank Trust Department purchased a new stake in shares of Enerpac Tool Group in the third quarter worth approximately $210,000. 97.70% of the stock is owned by hedge funds and other institutional investors.

Enerpac Tool Group Price Performance

Shares of EPAC stock opened at $48.85 on Friday. The stock has a 50 day moving average price of $46.56 and a 200 day moving average price of $42.09. The firm has a market capitalization of $2.65 billion, a P/E ratio of 31.31 and a beta of 1.15. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.31 and a current ratio of 2.88. Enerpac Tool Group Corp. has a 52-week low of $28.25 and a 52-week high of $51.91.

Enerpac Tool Group (NYSE:EPAC) last issued its earnings results on Tuesday, October 15th. The company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.03). The company had revenue of $158.71 million for the quarter, compared to analysts’ expectations of $156.70 million. Enerpac Tool Group had a net margin of 14.55% and a return on equity of 26.70%. During the same period in the prior year, the firm posted $0.42 earnings per share. As a group, sell-side analysts predict that Enerpac Tool Group Corp. will post 1.81 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director E James Ferland, Jr. sold 1,938 shares of the business’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 completion of the sale, the director now owns 86,047 shares in the company, valued at approximately $3,800,695.99. The trade was a 2.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.87% of the company’s stock.

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.