Algert Global LLC Sells 202,138 Shares of NAPCO Security Technologies, Inc. $NSSC

Key Points

• Algert Global LLC cut its NAPCO Security Technologies stake by 83.8% in the second quarter, selling 202,138 shares and retaining 39,018 shares valued at approximately $1.48 million. Institutional investors still own about 85.1% of NSSC.
• NAPCO reported quarterly earnings of $0.50 per share on $55.81 million in revenue, beating estimates and marking 10.1% year-over-year revenue growth. The company also raised its quarterly dividend to $0.17 per share, yielding roughly 1.9%.
• Investor sentiment faces pressure from more than $18.2 million in recent insider stock sales and NSSC trading near a new 52-week low below its 50- and 200-day moving averages. Analysts nevertheless maintain a “Moderate Buy” consensus with an average price target of $50.40.

Algert Global LLC lowered its holdings in NAPCO Security Technologies, Inc. (NASDAQ:NSSC - Free Report) by 83.8% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 39,018 shares of the industrial products company's stock after selling 202,138 shares during the period. Algert Global LLC owned approximately 0.11% of NAPCO Security Technologies worth $1,482,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. IFP Advisors Inc lifted its position in NAPCO Security Technologies by 193.3% during the third quarter. IFP Advisors Inc now owns 572 shares of the industrial products company's stock valued at $25,000 after purchasing an additional 377 shares during the last quarter. KBC Group NV bought a new position in shares of NAPCO Security Technologies in the 1st quarter worth $26,000. Advisory Services Network LLC purchased a new stake in shares of NAPCO Security Technologies during the 3rd quarter valued at $41,000. Blue Trust Inc. purchased a new stake in shares of NAPCO Security Technologies during the 1st quarter valued at $44,000. Finally, Acadian Asset Management LLC bought a new stake in shares of NAPCO Security Technologies during the 1st quarter worth $91,000. Institutional investors own 85.07% of the company's stock.

NAPCO Security Technologies News Summary

Here are the key news stories impacting NAPCO Security Technologies this week:

• Negative Sentiment: Chairman Richard Soloway sold a combined 475,000 shares on August 26 and 27 for approximately $16.5 million. The transactions reduced his direct ownership by roughly 46%, leaving him with 621,958 shares. The size of the sales may concern investors because they came from a senior executive, although the filings do not state the reason for the transactions. SEC filing for Richard Soloway stock sales
• Negative Sentiment: Director Donna Anne Soloway sold 48,962 shares across the same two sessions for approximately $1.7 million, cutting her holdings to 20,962 shares. The combined insider sales totaled 523,962 shares and more than $18.2 million in proceeds. SEC filing for Donna Anne Soloway stock sales
• Negative Sentiment: NSSC shares hit a new 52-week low, reinforcing concerns about momentum. The stock is trading below both its 50-day and 200-day moving averages, indicating continued technical weakness. NAPCO Security Technologies hits new 52-week low

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Benchmark reiterated a "buy" rating on shares of NAPCO Security Technologies in a report on Tuesday. Wall Street Zen downgraded NAPCO Security Technologies from a "buy" rating to a "hold" rating in a research report on Saturday, July 4th. DA Davidson set a $52.00 target price on NAPCO Security Technologies in a research note on Tuesday. Needham & Company LLC reiterated a "buy" rating and set a $49.00 price target on shares of NAPCO Security Technologies in a research report on Friday, August 21st. Finally, TD Cowen reissued a "buy" rating and set a $53.00 price target (up from $50.00) on shares of NAPCO Security Technologies in a research note on Tuesday, May 5th. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $50.40.

NAPCO Security Technologies Stock Performance

NSSC opened at $35.35 on Friday. The stock has a market capitalization of $1.26 billion, a PE ratio of 29.21 and a beta of 1.45. The stock's 50 day moving average price is $37.44 and its 200-day moving average price is $39.81. 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 quarterly earnings results on Monday, August 24th. The industrial products company reported $0.50 earnings per share 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 net margin of 21.27% and a return on equity of 31.41%. The firm's revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.33 earnings per share. Research analysts forecast that NAPCO Security Technologies, Inc. will post 1.66 EPS for the current fiscal year.

NAPCO Security Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Friday, September 11th will be given a dividend of $0.17 per share. This is an increase from NAPCO Security Technologies's previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Friday, September 11th. NAPCO Security Technologies's dividend payout ratio is presently 49.59%.

Insider Buying and Selling

In related news, Director Donna Anne Soloway sold 28,000 shares of NAPCO Security Technologies stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $35.98, for a total transaction of $1,007,440.00. Following the sale, the director directly owned 20,962 shares in the company, valued at $754,212.76. The trade was a 57.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Richard Soloway sold 379,529 shares of the company's stock in a transaction on 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. The trade was a 37.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 523,962 shares of company stock worth $18,257,168 in the last quarter. Company insiders own 5.65% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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