Bank of America Corp DE Trims Holdings in Napco Security Technologies, Inc. (NASDAQ:NSSC)

Bank of America Corp DE reduced its position in Napco Security Technologies, Inc. (NASDAQ:NSSC - Free Report) by 44.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 104,796 shares of the industrial products company's stock after selling 84,181 shares during the quarter. Bank of America Corp DE owned 0.29% of Napco Security Technologies worth $3,727,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NSSC. Wells Fargo & Company MN grew its stake in Napco Security Technologies by 0.7% in the 4th quarter. Wells Fargo & Company MN now owns 62,007 shares of the industrial products company's stock worth $2,205,000 after acquiring an additional 437 shares in the last quarter. Truvestments Capital LLC grew its stake in Napco Security Technologies by 6.7% in the 4th quarter. Truvestments Capital LLC now owns 7,009 shares of the industrial products company's stock worth $249,000 after acquiring an additional 443 shares in the last quarter. Invesco Ltd. grew its stake in Napco Security Technologies by 1.4% in the 4th quarter. Invesco Ltd. now owns 35,737 shares of the industrial products company's stock worth $1,271,000 after acquiring an additional 477 shares in the last quarter. Huntington National Bank grew its stake in Napco Security Technologies by 31.4% in the 4th quarter. Huntington National Bank now owns 2,335 shares of the industrial products company's stock worth $83,000 after acquiring an additional 558 shares in the last quarter. Finally, Isthmus Partners LLC grew its stake in Napco Security Technologies by 0.7% in the 4th quarter. Isthmus Partners LLC now owns 87,363 shares of the industrial products company's stock worth $3,107,000 after acquiring an additional 650 shares in the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

Napco Security Technologies Price Performance

NSSC stock traded up $0.04 during midday trading on Friday, hitting $28.06. 498,519 shares of the stock traded hands, compared to its average volume of 503,839. The firm has a market cap of $1.00 billion, a P/E ratio of 21.58 and a beta of 1.41. The stock's fifty day simple moving average is $24.16 and its 200-day simple moving average is $29.37. Napco Security Technologies, Inc. has a 1-year low of $19.00 and a 1-year high of $58.09.

Napco Security Technologies (NASDAQ:NSSC - Get Free Report) last announced its earnings results on Monday, May 5th. The industrial products company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.01. Napco Security Technologies had a net margin of 25.94% and a return on equity of 27.65%. The business had revenue of $43.96 million for the quarter, compared to analyst estimates of $45.11 million. During the same quarter last year, the business earned $0.37 earnings per share. The company's revenue for the quarter was down 10.8% compared to the same quarter last year. On average, research analysts predict that Napco Security Technologies, Inc. will post 1.24 earnings per share for the current year.

Napco Security Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Thursday, June 12th will be paid a dividend of $0.14 per share. The ex-dividend date is Thursday, June 12th. This is an increase from Napco Security Technologies's previous quarterly dividend of $0.13. This represents a $0.56 dividend on an annualized basis and a yield of 2.00%. Napco Security Technologies's payout ratio is 45.90%.

Wall Street Analysts Forecast Growth

NSSC has been the topic of a number of research analyst reports. Lake Street Capital set a $26.00 target price on shares of Napco Security Technologies in a research note on Monday, May 5th. Needham & Company LLC dropped their target price on shares of Napco Security Technologies from $37.00 to $32.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. TD Cowen downgraded shares of Napco Security Technologies from a "buy" rating to a "hold" rating and dropped their target price for the stock from $46.00 to $27.00 in a research note on Tuesday, February 4th. Craig Hallum downgraded shares of Napco Security Technologies from a "buy" rating to a "hold" rating and set a $28.00 price objective on the stock. in a research note on Tuesday, February 4th. Finally, Cowen downgraded shares of Napco Security Technologies from a "buy" rating to a "hold" rating in a research note on Tuesday, February 4th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $32.20.

Napco Security Technologies Company Profile

Napco Security Technologies, Inc develops, manufactures, and sells electronic security systems for commercial, residential, institutional, industrial, and governmental applications in the United States and internationally. Its access control systems include various types of identification readers, control panels, PC-based computers, and electronically activated door-locking devices; intrusion and fire alarm systems, consists of various detectors, a control panel, a digital keypad and signaling equipment; and door locking devices comprise microprocessor-based electronic door locks with push button, card readers and bio-metric operation, door alarms, mechanical door locks, and simple dead bolt locks.