Enpro Inc.'s (NYSE:NPO) Senior Vice President, Controller and Chief Accounting Officer Steven R. Bower has sold a portion of his company stock, according to a recent SEC filing. The transaction, which took place on May 17, 2024, involved the sale of 1,031 shares of common stock at a weighted average price of $150.00 per share, resulting in a total value of $154,650.
Investors tracking insider transactions saw that the shares were sold in multiple transactions with prices ranging from $149.92 to $150.13. Despite this sale, Bower still maintains a significant holding in the company with 2,152 shares of common stock directly owned following the transaction. Additionally, Bower is indirectly associated with 6,428 shares held in an IRA.
The sale by Bower comes as part of the normal course of business for executives managing their personal stock portfolios. Enpro Inc., headquartered in Charlotte, North Carolina, operates in the manufacturing sector, specializing in gaskets, packaging, sealing devices, and rubber and plastic hose products.
The SEC Form 4 filing, which was signed by Angela P. Winter as Attorney-in-Fact for Steven R. Bower, provides transparency into the transactions executed by company insiders, offering investors a glimpse into the actions taken by those with intimate knowledge of the company.
InvestingPro Insights
Following the recent insider stock sale by Senior Vice President Steven R. Bower, investors in Enpro Inc. (NYSE:NPO) may be keen to understand the broader financial health and projections for the company. According to InvestingPro data, Enpro Inc. boasts a market capitalization of $3.16 billion and has maintained a gross profit margin of 40.48% over the last twelve months as of Q1 2024, reflecting a solid ability to control costs relative to revenue.
Despite a slight decline in revenue growth over the last quarter of Q1 2024, with a -8.88% change, the company has shown a strong return on investment with a 52.13% one-year price total return as of the date of the last dividend. This indicates a robust performance in the stock market, which may reassure investors following the insider sale. Additionally, Enpro Inc. has demonstrated a commitment to shareholder returns, having raised its dividend for 9 consecutive years, with a current dividend yield of 0.8%.
An InvestingPro Tip highlights that analysts are optimistic about Enpro's future profitability, predicting the company will be profitable this year. This is a critical factor for potential investors to consider, especially in the context of the company's recent stock price movements, which have been quite volatile according to another InvestingPro Tip.
For those interested in a more in-depth analysis, InvestingPro offers additional tips on Enpro Inc., which can be accessed at: https://www.investing.com/pro/NPO. By using the coupon code PRONEWS24, readers can get an extra 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking valuable insights that could shape their investment strategy. There are 9 more InvestingPro Tips available for Enpro Inc., providing a comprehensive understanding of the company's financials and market position.
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