Corient Private Wealth LP bought a new stake in NAPCO Security Technologies, Inc. (NASDAQ:NSSC – Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 48,739 shares of the industrial products company’s stock, valued at approximately $1,851,000.
A number of other large investors have also added to or reduced their stakes in NSSC. Bank of America Corp DE purchased a new stake in shares of NAPCO Security Technologies during the second quarter valued at about $6,019,000. Freestone Grove Partners LP purchased a new position in shares of NAPCO Security Technologies in the 2nd quarter worth approximately $335,000. Man Group plc purchased a new position in shares of NAPCO Security Technologies in the 2nd quarter worth approximately $856,000. Jupiter Topco LLC bought a new position in shares of NAPCO Security Technologies during the 2nd quarter worth approximately $63,855,000. Finally, Raffles Associates LP bought a new position in shares of NAPCO Security Technologies during the 2nd quarter worth approximately $928,000. 85.07% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several equities research analysts have weighed in on NSSC shares. Needham & Company LLC restated a “buy” rating and issued a $49.00 target price on shares of NAPCO Security Technologies in a research note on Friday, August 21st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of NAPCO Security Technologies in a research report on Friday, August 7th. DA Davidson set a $52.00 price objective on NAPCO Security Technologies in a report on Tuesday, August 25th. Benchmark reissued a “buy” rating on shares of NAPCO Security Technologies in a research report on Tuesday, August 25th. Finally, Wall Street Zen downgraded NAPCO Security Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, July 4th. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $50.40.
Insiders Place Their Bets
In related news, Chairman Richard Soloway sold 379,529 shares of the firm’s stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $34.50, for a total transaction of $13,093,750.50. Following the completion of the transaction, the chairman owned 621,958 shares of the company’s stock, valued at $21,457,551. This trade represents a 37.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Donna Soloway sold 20,962 shares of the business’s stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $34.62, for a total transaction of $725,704.44. Following the transaction, the director owned 20,962 shares of the company’s stock, valued at $725,704.44. This represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 523,962 shares of company stock worth $18,257,168 over the last three months. Corporate insiders own 5.65% of the company’s stock.
NAPCO Security Technologies Stock Up 3.9%
Shares of NAPCO Security Technologies stock opened at $37.05 on Friday. The company has a 50 day moving average price of $37.33 and a 200 day moving average price of $39.59. The firm has a market capitalization of $1.33 billion, a P/E ratio of 30.62 and a beta of 1.43. NAPCO Security Technologies, Inc. has a 52 week low of $33.91 and a 52 week high of $51.77.
NAPCO Security Technologies (NASDAQ:NSSC – Get Free Report) last released its earnings results on Monday, August 24th. The industrial products company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.11. NAPCO Security Technologies had a net margin of 21.27% and a return on equity of 31.41%. The company had revenue of $55.81 million for the quarter, compared to the consensus estimate of $52.51 million. During the same quarter in the previous year, the firm earned $0.33 EPS. NAPCO Security Technologies’s revenue was up 10.1% compared to the same quarter last year. As a group, research analysts anticipate that NAPCO Security Technologies, Inc. will post 1.66 earnings per share for the current fiscal year.
NAPCO Security Technologies Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Friday, September 11th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.8%. This is a boost from NAPCO Security Technologies’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Friday, September 11th. NAPCO Security Technologies’s dividend payout ratio is presently 49.59%.
NAPCO Security Technologies Company Profile
NAPCO Security Technologies, Inc (NASDAQ: NSSC) is a designer and manufacturer of electronic security solutions for commercial and residential applications. The company’s product portfolio spans intrusion and fire alarm control panels, alarm communicators, access control locks and readers, as well as a broad range of peripheral modules and integrated security accessories. NAPCO’s offerings are engineered to deliver scalable, networked security systems suitable for new installations and retrofit projects alike.
Key product lines include hybrid alarm control panels that support both wired and wireless peripherals, cellular and IP alarm communicators for reliable central station reporting, and the acclaimed “Alarm Lock” series of standalone and networked electronic door locks.
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