The chief executive officer of Enpro Industries Inc., an industrial conglomerate that provides engineered industrial products, has sold more than $2.1 million of company stock, according to a filing Tuesday with the Securities and Exchange Commission.
Stephen Macadam, president and chief executive officer, sold 25,000 shares at $84 a share for a total of $2.1 million on Monday.
He still owns 194,447 shares worth more than $16.3 million.
Macadam has been the president and chief executive officer at Enpro since 2008. Prior to that, he served as the chief executive officer at Bluelinx Corp. since 2005. He served as the chief executive officer at Consolidated Container Co. LLC from 2001 to 2005.
He received his bachelor’s degree in mechanical engineering at University of Kentucky, his master’s in finance at Boston College and his MBA at Harvard Business School.
Enpro, through its subsidiaries, provides engineered industrial products for critical applications in a wide range of industries. Its businesses manufacture sealing products, plain bearings and diesel engines, among others.
Enpro companies include Garlock, Fairbanks Morse Engine, Stemco, Technetics, GGB and CPI.
The company reported third quarter earnings last month that missed analyst’s projections.
Earnings per share for Enpro came in at 73 cents per share, compared to analyst’s predictions of 89 cents per share. The company’s net sales were $343.7 million, below consensus estimate of $356.5 million.
However, the company’s revenue for the quarter rose 17.4 percent to $343.7 million, up from $292.7 million last year.
Enpro stock is at $83.65 in Tuesday afternoon trading.