Sound Point Capital Management Lp buys $7.3 Million stake in EnPro Industries (NPO)

EnPro Industries (NPO) : Sound Point Capital Management Lp scooped up 75,200 additional shares in EnPro Industries during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 155,315 shares of EnPro Industries which is valued at $7.3 Million.EnPro Industries makes up approximately 11.87% of Sound Point Capital Management Lp’s portfolio.

Other Hedge Funds, Including , Alliancebernstein reduced its stake in NPO by selling 700 shares or 2.22% in the most recent quarter. The Hedge Fund company now holds 30,837 shares of NPO which is valued at $1.5 Million. Beach Point Capital Management Lp sold out all of its stake in NPO during the most recent quarter. The investment firm sold 128,117 shares of NPO which is valued $6 Million.Blackrock Institutional Trust Company N.a. reduced its stake in NPO by selling 7,039 shares or 1.15% in the most recent quarter. The Hedge Fund company now holds 604,636 shares of NPO which is valued at $28.5 Million.Ngam Advisors boosted its stake in NPO in the latest quarter, The investment management firm added 7,869 additional shares and now holds a total of 20,799 shares of EnPro Industries which is valued at $977,137. EnPro Industries makes up approx 0.01% of Ngam Advisors’s portfolio.Aperio Group boosted its stake in NPO in the latest quarter, The investment management firm added 4,256 additional shares and now holds a total of 9,130 shares of EnPro Industries which is valued at $534,835.

EnPro Industries opened for trading at $49.48 and hit $50.38 on the upside on Wednesday, eventually ending the session at $49.74, with a gain of 1.04% or 0.51 points. The heightened volatility saw the trading volume jump to 87,731 shares. Company has a market cap of $1,081 M.

On the company’s financial health, EnPro Industries reported $-0.01 EPS for the quarter, missing the analyst consensus estimate by $ -0.42 based on the information available during the earnings call on May 5, 2016. Analyst had a consensus of $0.41. The company had revenue of $294.90 million for the quarter, compared to analysts expectations of $293.25 million. The company’s revenue was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.04 EPS.

Investors should note that on May 4, 2016, EnPro Industries announced a cash dividend of $0.2100. The company’s management has announced May 27, 2016 as the ex-dividend date and fixed the record date on Jun 1, 2016. The payable date has been fixed on Jun 15, 2016.

Many Wall Street Analysts have commented on EnPro Industries. EnPro Industries was Downgraded by KeyBanc Capital Mkts to ” Sector Weight” on May 5, 2016.

EnPro Industries Inc. (EnPro) is engaged in the designing developing manufacturing and marketing engineered industrial products. The Company operates in three segments: Sealing Products segment Engineered Products segment and Power Systems segment. Its Sealing Products segment designs manufactures and sells sealing products. Engineered Products Segment includes its bearings aluminum blocks for hydraulic applications and reciprocating compressor components. Its Engineered Products segment includes operations that design manufacture and sell self-lubricating non-rolling metal-polymer and solid polymer and filament wound bearing products among others. Its Power Systems segment designs manufactures sells and services heavy-duty medium-speed diesel natural gas and dual fuel reciprocating engines. It has approximately 63 primary manufacturing facilities located in 13 countries including the United States.

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