EnerSys Shares Fall After Word Of Big Share Sale

NEW YORK (AP) — EnerSys Inc. shares fell Wednesday after word that a Morgan Stanley affiliate and other investors will sell 3.2 million shares of the industrial battery maker.

Metalmark Capital LLC, the largest EnerSys shareholder, and several other institutional investors will sell the shares to Goldman, Sachs & Co., the Reading, Pa.-based company said.

As of Aug. 10, Metalmark owned 5.6 million shares or an 11.8 percent stake in the company. EnerSys had 48.5 million shares outstanding on June 28.

EnerSys did not disclose the timing of the stock sale but said it will not receive any money from the transaction.

The company makes batteries and chargers for electric lift trucks, ground support, mining and other equipment.

CL King analyst Michael W. Gallo reiterated his "Neutral" rating on the shares.

In morning trading, shares fell $1.87, or 8.5 percent, to $20.08.