55,916 NAPCO Security Technologies, Inc. $NSSC Shares Sold by Redmond Asset Management LLC

Key Points

• Redmond Asset Management cut its NAPCO Security Technologies stake by 47.5%, selling 55,916 shares in the third quarter and retaining 61,868 shares worth approximately $2.2 million. Institutional investors collectively own 85.07% of NSSC.
• NAPCO reported quarterly EPS of $0.50, beating estimates by $0.11, while revenue rose 10.1% year over year to $55.81 million. Analysts maintain a “Moderate Buy” consensus with a $51.33 average price target.
• The company increased its quarterly dividend from $0.15 to $0.17 per share, but insiders sold 523,962 shares worth roughly $18.3 million over the past 90 days.

Redmond Asset Management LLC trimmed its holdings in shares of NAPCO Security Technologies, Inc. (NASDAQ:NSSC - Free Report) by 47.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 61,868 shares of the industrial products company's stock after selling 55,916 shares during the period. Redmond Asset Management LLC's holdings in NAPCO Security Technologies were worth $2,204,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in NSSC. Signaturefd LLC increased its position in NAPCO Security Technologies by 225.9% during the 3rd quarter. Signaturefd LLC now owns 1,310 shares of the industrial products company's stock valued at $47,000 after buying an additional 908 shares in the last quarter. Sterling Capital Management LLC raised its stake in NAPCO Security Technologies by 844.7% during the third quarter. Sterling Capital Management LLC now owns 1,162 shares of the industrial products company's stock valued at $41,000 after buying an additional 1,039 shares during the last quarter. Inspire Investing LLC purchased a new position in NAPCO Security Technologies during the third quarter valued at $638,000. Vest Financial LLC boosted its holdings in NAPCO Security Technologies by 10.7% in the third quarter. Vest Financial LLC now owns 106,315 shares of the industrial products company's stock worth $3,787,000 after acquiring an additional 10,246 shares in the last quarter. Finally, Albion Financial Group UT bought a new stake in NAPCO Security Technologies in the third quarter worth $69,000. 85.07% of the stock is owned by institutional investors.

NAPCO Security Technologies Stock Down 0.2%

Shares of NASDAQ NSSC opened at $39.66 on Thursday. NAPCO Security Technologies, Inc. has a twelve month low of $33.91 and a twelve month high of $51.77. The firm has a market cap of $1.42 billion, a P/E ratio of 32.78 and a beta of 1.51. The company has a 50 day moving average of $36.43 and a 200 day moving average of $39.14.

NAPCO Security Technologies (NASDAQ:NSSC - Get Free Report) last released its quarterly earnings data on Monday, August 24th. The industrial products company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.11. The business had revenue of $55.81 million for the quarter, compared to analysts' expectations of $52.51 million. NAPCO Security Technologies had a return on equity of 31.41% and a net margin of 21.27%. The firm's quarterly revenue was up 10.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.33 EPS. As a group, equities analysts expect that NAPCO Security Technologies, Inc. will post 1.68 earnings per share for the current fiscal year.

NAPCO Security Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 2nd. Stockholders of record on Friday, September 11th were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Friday, September 11th. This is an increase from NAPCO Security Technologies's previous quarterly dividend of $0.15. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.7%. NAPCO Security Technologies's dividend payout ratio is currently 56.20%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Wall Street Zen cut NAPCO Security Technologies from a "buy" rating to a "hold" rating in a research note on Saturday, July 4th. Weiss Ratings upgraded shares of NAPCO Security Technologies from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, October 8th. DA Davidson set a $52.00 price target on shares of NAPCO Security Technologies in a research note on Tuesday, August 25th. Benchmark reissued a "buy" rating on shares of NAPCO Security Technologies in a research report on Tuesday, August 25th. Finally, Needham & Company LLC restated a "buy" rating and set a $49.00 price objective on shares of NAPCO Security Technologies in a research note on Friday, August 21st. Four 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, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $51.33.

Insiders Place Their Bets

In related news, Chairman Richard Soloway sold 379,529 shares of NAPCO Security Technologies stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $34.50, for a total value of $13,093,750.50. Following the completion of the sale, the chairman directly owned 621,958 shares in the company, valued at approximately $21,457,551. This trade represents a 37.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Donna Soloway sold 28,000 shares of NAPCO Security Technologies stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $35.98, for a total value of $1,007,440.00. Following the completion of the sale, the director owned 20,962 shares of the company's stock, valued at $754,212.76. The trade was a 57.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 523,962 shares of company stock worth $18,257,168. Corporate insiders own 5.65% of the company's stock.

About NAPCO Security Technologies

NAPCO Security Technologies, Inc develops, manufactures and sells electronic security products and solutions for commercial, institutional, industrial and residential applications. Its offerings include intrusion alarm systems, access control systems, fire alarm products, locking systems and related communications technologies.

The company markets products under brands that include NAPCO, StarLink, Alarm Lock, Continental Instruments and Firewolf. Its solutions are designed to support security dealers, alarm monitoring providers, systems integrators and other professional-channel customers, including applications in schools, healthcare facilities, businesses and government buildings.

Founded in 1969, NAPCO is headquartered in Amityville, New York.

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