Actuant to change name to Enerpac, stock ticker to 'EPAC'

Actuant Corp. said Monday it will change its business name to Enerpac Tool Group, as the expected divestiture of its engineered components and systems business in the fourth quarter will leav it a "pure play" industrial tools and services company. The company said its stock ticker symbol will change to "EPAC" on Oct. 7. The legal name is expected to change, subject to shareholder approval, after the annual shareholder meeting in January. The stock, which was still inactive in premarket trading, has lost 19.2% over the past 12 months while the Dow Jones Industrial Average has gained 0.7%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.