Municipal Employees Retirement System of Michigan reduced its stake in shares of Enersys (NYSE:ENS) by 15.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 16,800 shares of the industrial products company’s stock after selling 3,150 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Enersys were worth $1,217,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. First Interstate Bank boosted its stake in shares of Enersys by 0.4% in the first quarter. First Interstate Bank now owns 2,375 shares of the industrial products company’s stock valued at $187,000 after buying an additional 10 shares during the last quarter. Engineers Gate Manager LP purchased a new position in Enersys during the first quarter valued at approximately $205,000. World Asset Management Inc raised its position in Enersys by 0.9% in the first quarter. World Asset Management Inc now owns 2,669 shares of the industrial products company’s stock valued at $211,000 after buying an additional 25 shares during the period. Highbridge Capital Management LLC purchased a new position in Enersys during the fourth quarter valued at approximately $216,000. Finally, Oakbrook Investments LLC purchased a new position in Enersys during the second quarter valued at approximately $235,000. 97.52% of the stock is owned by institutional investors.
Shares of Enersys (NYSE:ENS) traded down 1.29% on Friday, reaching $62.01. 227,165 shares of the company’s stock were exchanged. The firm has a market capitalization of $2.69 billion, a P/E ratio of 16.71 and a beta of 1.65. The firm has a 50 day moving average of $70.59 and a 200 day moving average of $76.40. Enersys has a one year low of $61.96 and a one year high of $84.74.
Enersys (NYSE:ENS) last issued its quarterly earnings data on Wednesday, August 9th. The industrial products company reported $1.12 earnings per share for the quarter, missing the consensus estimate of $1.13 by $0.01. The company had revenue of $622.60 million for the quarter, compared to analysts’ expectations of $615.77 million. Enersys had a return on equity of 18.90% and a net margin of 6.86%. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.14 EPS. On average, equities research analysts predict that Enersys will post $4.67 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be given a dividend of $0.175 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.70 annualized dividend and a dividend yield of 1.13%. Enersys’s dividend payout ratio is presently 18.87%.
Enersys declared that its Board of Directors has approved a share repurchase plan on Wednesday, August 9th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the industrial products company to purchase up to 3.2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
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Several research analysts recently commented on the stock. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and set a $92.00 price objective (down previously from $95.00) on shares of Enersys in a research note on Friday, June 2nd. Zacks Investment Research upgraded shares of Enersys from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Sidoti upgraded shares of Enersys from a “neutral” rating to a “buy” rating and set a $83.00 price objective for the company in a research note on Thursday. BidaskClub lowered shares of Enersys from a “sell” rating to a “strong sell” rating in a research note on Friday. Finally, ValuEngine upgraded shares of Enersys from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Two investment analysts have rated the stock with a sell rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $82.67.
In other news, VP Kerry M. Kane sold 4,413 shares of Enersys stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $82.16, for a total value of $362,572.08. Following the transaction, the vice president now directly owns 17,210 shares of the company’s stock, valued at approximately $1,413,973.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Holger P. Aschke sold 3,000 shares of Enersys stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $81.00, for a total transaction of $243,000.00. Following the completion of the transaction, the insider now directly owns 28,928 shares in the company, valued at $2,343,168. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by insiders.
Enersys Company Profile
EnerSys is a manufacturer, marketer and distributor of industrial batteries. The Company manufactures, markets and distributes related products, such as chargers, power equipment, outdoor cabinet enclosures and battery accessories, and provides related after-market and customer-support services for industrial batteries.
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