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MENOMONEE FALLS - Enerpac Tool Group Corp. (NYSE: NYSE:EPAC), a global provider of industrial tools and solutions, has declared an annual cash dividend for its Class A common stock. Shareholders of record by October 7, 2024, will receive a dividend of $0.04 per share on October 18, 2024.
The company, known for its high-pressure hydraulic tools and controlled force products, serves a diverse customer base across more than 100 countries. Enerpac Tool Group focuses on enabling the safe and efficient execution of complex and hazardous tasks in various industries.
Founded in 1910, the Wisconsin-based company has established itself as a leader in the market for precise positioning of heavy loads and mission-critical applications. The company's common stock is publicly traded on the New York Stock Exchange under the ticker symbol EPAC.
This dividend announcement follows Enerpac Tool Group's tradition of providing returns to its shareholders and reflects the company's commitment to its investors. The information regarding the declared dividend is based on a press release statement from Enerpac Tool Group.
In other recent news, Enerpac Tool Group has reported modest organic revenue growth in the third quarter of fiscal 2024, despite some regional challenges. The company's growth strategy and digital transformation initiatives, such as a significant increase in e-commerce revenue, have played a crucial role in its performance. Enerpac anticipates full-year organic revenue growth of 2-3% and an adjusted EBITDA of $147-150 million.
The EMEA region experienced low-double-digit revenue expansion, while the Americas saw a decline. However, the company's e-commerce revenue in the Americas increased by 35%, with a new e-commerce site successfully launched in Europe. The company's ASCEND transformation program is ahead of schedule, contributing to margin improvements.
The company's four-pillar growth strategy focuses on rail, infrastructure, wind, and industrial MRO markets. Despite the revenue decline in the Americas and challenges in the Asia-Pacific region from the mining sector and heavy lifting technology, new product launches, including a battery-operated handheld torque wrench, received positive market reception. The company maintains a 6-7% organic revenue CAGR growth projection through fiscal '26, indicating steady progress amidst market challenges.
InvestingPro Insights
Enerpac Tool Group Corp. (NYSE: EPAC) has recently affirmed its commitment to shareholder returns with the announcement of an annual cash dividend. In line with this, InvestingPro users are privy to a range of metrics and tips that highlight the company's financial health and investment potential.
InvestingPro Tips suggest that EPAC boasts an impressive gross profit margin, which stands at 51.37% for the last twelve months as of Q3 2024. This figure underscores the company's efficiency in managing its cost of goods sold and its ability to retain a significant portion of revenue as gross profit. Additionally, EPAC has a notable track record of maintaining dividend payments, with a history spanning 19 consecutive years, demonstrating a reliable return to shareholders.
From the InvestingPro Data, Enerpac Tool Group's market capitalization is at $2.13 billion, reflecting the company's solid presence in the market. The P/E ratio, a metric that compares the company's share price to its per-share earnings, is 25.63, with an adjusted P/E ratio for the last twelve months as of Q3 2024 at 23.13. This indicates that the company is trading at a valuation that is relatively in line with its earnings. Furthermore, the PEG ratio, which measures the relationship between the P/E ratio and earnings growth, is at a low 0.17, suggesting the stock may be undervalued given its earnings growth prospects.
For investors considering Enerpac Tool Group as a potential addition to their portfolios, there are additional InvestingPro Tips available. These tips provide deeper insights into the company's financials, market performance, and future outlook. Currently, there are 9 additional tips listed on InvestingPro for EPAC, which can be accessed for a comprehensive investment analysis.
The information above is based on data from InvestingPro as of Q3 2024 and reflects the company's current financial standing and market performance.
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