NAPCO Security Technologies, Inc. (NASDAQ:NSSC) Short Interest Down 29.3% in March

NAPCO Security Technologies, Inc. (NASDAQ:NSSC) saw a significant drop in short interest during the month of March. As of March 31st, there was short interest totaling 3,296,259 shares, a drop of 29.3% from the March 15th total of 4,664,025 shares. Currently, 9.8% of the company’s shares are sold short. Based on an average trading volume of 607,393 shares, the days-to-cover ratio is presently 5.4 days.

Insider Transactions at NAPCO Security Technologies

In other NAPCO Security Technologies news, CEO Richard Soloway sold 129,682 shares of the firm’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $44.99, for a total transaction of $5,834,393.18. Following the completion of the sale, the chief executive officer owned 1,152,276 shares of the company’s stock, valued at $51,840,897.24. This trade represents a 10.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.65% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On NAPCO Security Technologies

Institutional investors have recently modified their holdings of the company. Cornerstone Planning Group LLC acquired a new stake in shares of NAPCO Security Technologies in the third quarter valued at $25,000. Maseco LLP acquired a new stake in shares of NAPCO Security Technologies in the fourth quarter valued at $25,000. IFP Advisors Inc grew its stake in shares of NAPCO Security Technologies by 193.3% in the third quarter. IFP Advisors Inc now owns 572 shares of the industrial products company’s stock valued at $25,000 after buying an additional 377 shares in the last quarter. Exchange Traded Concepts LLC purchased a new position in NAPCO Security Technologies in the third quarter valued at $26,000. Finally, State of Wyoming purchased a new position in NAPCO Security Technologies in the third quarter valued at $41,000. 85.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

NSSC has been the subject of several recent analyst reports. DA Davidson reissued a “buy” rating and set a $50.00 target price on shares of NAPCO Security Technologies in a research note on Tuesday, February 3rd. Weiss Ratings reissued a “hold (c+)” rating on shares of NAPCO Security Technologies in a research note on Wednesday, January 28th. Finally, Needham & Company LLC reissued a “buy” rating and set a $49.00 target price (up from $47.00) on shares of NAPCO Security Technologies in a research note on Monday, February 2nd. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.83.

NAPCO Security Technologies Stock Performance

Shares of NASDAQ NSSC traded up $0.48 during trading on Thursday, reaching $44.69. The stock had a trading volume of 245,884 shares, compared to its average volume of 423,219. NAPCO Security Technologies has a fifty-two week low of $21.14 and a fifty-two week high of $48.12. The business’s 50-day moving average price is $42.83 and its 200-day moving average price is $42.01. The company has a market cap of $1.59 billion, a P/E ratio of 33.60 and a beta of 1.48.

NAPCO Security Technologies (NASDAQ:NSSC) last issued its quarterly earnings data on Monday, February 2nd. The industrial products company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.05. NAPCO Security Technologies had a return on equity of 27.45% and a net margin of 24.70%.The business had revenue of $48.17 million during the quarter, compared to analysts’ expectations of $47.82 million. During the same period in the previous year, the firm posted $0.28 earnings per share. The company’s revenue was up 12.4% on a year-over-year basis. Analysts forecast that NAPCO Security Technologies will post 1.24 EPS for the current fiscal year.

NAPCO Security Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 3rd. Stockholders of record on Thursday, March 12th were paid a $0.15 dividend. The ex-dividend date of this dividend was Thursday, March 12th. This is a boost from NAPCO Security Technologies’s previous quarterly dividend of $0.14. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.3%. NAPCO Security Technologies’s payout ratio is presently 45.11%.

About NAPCO Security Technologies

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.