The Manufacturers Life Insurance Company acquired a new position in NAPCO Security Technologies, Inc. (NASDAQ:NSSC – Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 15,146 shares of the industrial products company’s stock, valued at approximately $575,000.
Other hedge funds have also recently modified their holdings of the company. IFP Advisors Inc boosted its stake in shares of NAPCO Security Technologies by 193.3% in the 3rd quarter. IFP Advisors Inc now owns 572 shares of the industrial products company’s stock worth $25,000 after buying an additional 377 shares during the last quarter. ProShare Advisors LLC increased its position in shares of NAPCO Security Technologies by 6.9% during the fourth quarter. ProShare Advisors LLC now owns 6,313 shares of the industrial products company’s stock valued at $263,000 after acquiring an additional 407 shares during the last quarter. Legal & General Group Plc lifted its holdings in NAPCO Security Technologies by 1.0% during the third quarter. Legal & General Group Plc now owns 43,937 shares of the industrial products company’s stock worth $1,887,000 after acquiring an additional 430 shares during the period. Alliancebernstein L.P. lifted its holdings in NAPCO Security Technologies by 1.3% during the third quarter. Alliancebernstein L.P. now owns 36,826 shares of the industrial products company’s stock worth $1,582,000 after acquiring an additional 474 shares during the period. Finally, Quantinno Capital Management LP boosted its position in NAPCO Security Technologies by 3.2% in the first quarter. Quantinno Capital Management LP now owns 19,464 shares of the industrial products company’s stock worth $767,000 after purchasing an additional 596 shares during the last quarter. Institutional investors own 85.07% of the company’s stock.
NAPCO Security Technologies Stock Performance
NSSC stock opened at $37.01 on Monday. The company has a market capitalization of $1.32 billion, a price-to-earnings ratio of 30.59 and a beta of 1.43. NAPCO Security Technologies, Inc. has a fifty-two week low of $33.91 and a fifty-two week high of $51.77. The stock has a fifty day moving average of $37.33 and a 200-day moving average of $39.54.
NAPCO Security Technologies Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Friday, September 11th will be paid a $0.17 dividend. The ex-dividend date is Friday, September 11th. This is a positive change from NAPCO Security Technologies’s previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a dividend yield of 1.8%. NAPCO Security Technologies’s dividend payout ratio is 49.59%.
Insider Activity at NAPCO Security Technologies
In related news, Director Donna Soloway sold 20,962 shares of the firm’s stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $34.62, for a total value of $725,704.44. Following the completion of the transaction, the director directly owned 20,962 shares of the company’s stock, valued at approximately $725,704.44. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Richard Soloway sold 379,529 shares of the firm’s stock in a transaction that occurred on Thursday, August 27th. The stock was 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 directly owned 621,958 shares of the company’s stock, valued at approximately $21,457,551. This trade represents a 37.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 523,962 shares of company stock worth $18,257,168. Insiders own 5.65% of the company’s stock.
Analysts Set New Price Targets
A number of brokerages have issued reports on NSSC. Benchmark restated a “buy” rating on shares of NAPCO Security Technologies in a research note on Tuesday, August 25th. Wall Street Zen downgraded shares of NAPCO Security Technologies from a “buy” rating to a “hold” rating in a report on Saturday, July 4th. Needham & Company LLC restated a “buy” rating and set a $49.00 price target on shares of NAPCO Security Technologies in a research report 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. Finally, DA Davidson set a $52.00 target price on shares of NAPCO Security Technologies in a research report on Tuesday, August 25th. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $50.40.
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.
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