Bank of America Corp DE Makes New Investment in National Presto Industries, Inc. $NPK

Key Points

• Bank of America initiated a stake in National Presto Industries during the second quarter, purchasing 10,085 shares valued at approximately $1.26 million. Institutional investors collectively own 58.57% of the company.
• National Presto shares rose 1.4% to $150.25, near their 12-month high of $158.17. The company reported quarterly earnings of $2.21 per share on revenue of $146.6 million.
• Analyst sentiment is moderately positive, with recent upgrades to “buy” and an average price target of $162; one analyst rates the stock Buy and another rates it Hold.

Bank of America Corp DE acquired a new stake in shares of National Presto Industries, Inc. (NYSE:NPK - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 10,085 shares of the conglomerate's stock, valued at approximately $1,261,000. Bank of America Corp DE owned about 0.14% of National Presto Industries at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of NPK. Freestone Grove Partners LP bought a new stake in National Presto Industries in the 2nd quarter worth approximately $928,000. Medina Value Partners LLC purchased a new position in National Presto Industries in the second quarter worth about $21,695,514. Jupiter Topco LLC bought a new stake in shares of National Presto Industries during the 2nd quarter valued at about $291,000. J. Goldman & Co LP bought a new stake in shares of National Presto Industries during the 2nd quarter valued at about $15,397,000. Finally, Legal & General Group Plc purchased a new stake in shares of National Presto Industries during the 2nd quarter valued at about $1,389,000. 58.57% of the stock is currently owned by institutional investors.

National Presto Industries Trading Up 1.4%

National Presto Industries stock opened at $150.25 on Friday. National Presto Industries, Inc. has a 12-month low of $91.28 and a 12-month high of $158.17. The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of 25.13 and a beta of 0.47. The firm has a 50 day moving average of $143.94 and a 200 day moving average of $136.91.

National Presto Industries (NYSE:NPK - Get Free Report) last issued its quarterly earnings results on Friday, August 14th. The conglomerate reported $2.21 earnings per share for the quarter. National Presto Industries had a net margin of 7.86% and a return on equity of 10.83%. The business had revenue of $146.60 million for the quarter.

Analysts Set New Price Targets

NPK has been the topic of several recent research reports. National Bank Financial set a $162.00 price objective on shares of National Presto Industries in a research note on Wednesday. Freedom Broker assumed coverage on shares of National Presto Industries in a research report on Thursday. They set a "hold" rating and a $162.00 target price for the company. Weiss Ratings raised shares of National Presto Industries from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, August 25th. Finally, Wall Street Zen upgraded shares of National Presto Industries from a "hold" rating to a "buy" rating in a research report on Saturday, August 22nd. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $162.00.

About National Presto Industries

National Presto Industries, Inc is a diversified manufacturer headquartered in Eau Claire, Wisconsin. Founded in 1905, the company is best known for its Presto-branded household products, including pressure cookers, electric pressure cookers, and other small kitchen appliances designed for home food preparation.

Through its defense operations, National Presto manufactures products for the U.S. military and other defense customers. Its defense-related offerings have included ammunition and components for mortar and artillery systems, as well as other specialized energetic products.

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