Gold prices cool after hitting over 2-week high on Fed independence fears
Steven R. Bower, Senior Vice President, Controller, and Chief Accounting Officer at Enpro Inc. (NYSE:NPO), recently sold 300 shares of the company's common stock. The shares were sold at a price of $162.495 each, totaling approximately $48,748. Following this transaction, Bower holds 130 shares directly. Additionally, he has an indirect holding of 6,428 shares through an IRA.
This sale was part of Bower's recent transactions reported in a Form 4 filing with the Securities and Exchange Commission.
In other recent news, Enpro has reported a year-over-year sales increase of 4% to $260.9 million in the third quarter of 2024, with adjusted EBITDA growing by 11% to $64.1 million. Despite this growth, the company has revised its full-year 2024 sales guidance downward due to weaker sales in its Advanced Surface Technologies (AST) segment and commercial vehicle OEM sales. Enpro maintains a strong balance sheet and continues to return capital to shareholders through dividends and share repurchases.
Continuing with the recent developments, the company's full-year 2024 sales are projected to see a slight decline compared to 2023. However, the company's adjusted EBITDA is projected between $250 million and $255 million, with adjusted diluted earnings per share expected to range from $6.75 to $7. Enpro has lowered its capital expenditure guidance to $40 million, focusing on organic growth and M&A.
Despite the bearish outlook due to narrowing AST margins and weakness in commercial vehicle OEM sales, the company has seen bullish growth in its Sealing Technologies segment with a 4.5% sales growth. The AST segment also reported a 3.5% increase in sales. The company's management expects a slow first half of the year but anticipates year-over-year growth moving forward, with a focus on strategic investments in Sealing Technologies for food and pharma, as well as test and measurement sectors.
InvestingPro Insights
As Steven R. Bower reduces his direct holdings in Enpro Inc. (NYSE:NPO), investors might be interested in the company's current financial position and market performance. According to InvestingPro data, Enpro boasts a market capitalization of $3.46 billion, with a price-to-earnings ratio of 63.85, suggesting a premium valuation compared to industry peers.
Despite the recent insider sale, Enpro has demonstrated financial stability and growth potential. An InvestingPro Tip highlights that the company has raised its dividend for 10 consecutive years, indicating a commitment to shareholder returns. This is particularly noteworthy given the company's moderate dividend yield of 0.73% and a dividend growth rate of 3.45% over the last twelve months.
Another InvestingPro Tip reveals that Enpro's net income is expected to grow this year, which could be a positive sign for investors looking beyond the recent insider transaction. This growth expectation aligns with the company's strong financial performance, as evidenced by its profitable operations over the last twelve months and a robust EBITDA of $238.3 million.
For those seeking a more comprehensive analysis, InvestingPro offers 6 additional tips that could provide deeper insights into Enpro's financial health and market position.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.