Bank of New York Mellon Corp Acquires 87,007 Shares of NAPCO Security Technologies, Inc. $NSSC

Key Points

• Bank of New York Mellon increased its NAPCO Security Technologies holdings by 40.3% in the first quarter, acquiring 87,007 shares for a total of 302,967 shares valued at approximately $11.9 million. Institutional investors collectively own 85.07% of NSSC.
• Analyst sentiment remains favorable, with six analysts rating NSSC a Buy and two issuing Holds. The stock has an average rating of “Moderate Buy” and an average price target of $48.67.
• NAPCO reported quarterly EPS of $0.39, beating estimates of $0.35, while revenue rose 11.8% year over year to $49.17 million. Shares opened at $37.08, with a market capitalization of about $1.32 billion.

Bank of New York Mellon Corp lifted its holdings in shares of NAPCO Security Technologies, Inc. (NASDAQ:NSSC - Free Report) by 40.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 302,967 shares of the industrial products company's stock after buying an additional 87,007 shares during the period. Bank of New York Mellon Corp owned about 0.85% of NAPCO Security Technologies worth $11,934,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

NSSC has been the topic of a number of research analyst reports. TD Cowen reaffirmed a "buy" rating and issued a $53.00 target price (up from $50.00) on shares of NAPCO Security Technologies in a report on Tuesday, May 5th. DA Davidson reissued a "buy" rating and set a $52.00 price target on shares of NAPCO Security Technologies in a research report on Tuesday, May 5th. Wall Street Zen lowered NAPCO Security Technologies from a "buy" rating to a "hold" rating in a research note on Saturday, July 4th. Finally, Weiss Ratings cut NAPCO Security Technologies from a "hold (c+)" rating to a "hold (c)" rating in a research report on Monday, May 11th. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, NAPCO Security Technologies currently has an average rating of "Moderate Buy" and an average price target of $48.67.

NAPCO Security Technologies Price Performance

Shares of NSSC opened at $37.08 on Friday. The company's 50-day moving average is $36.69 and its 200-day moving average is $40.05. The firm has a market capitalization of $1.32 billion, a PE ratio of 35.65 and a beta of 1.44. NAPCO Security Technologies, Inc. has a fifty-two week low of $29.27 and a fifty-two week high of $48.12.

NAPCO Security Technologies (NASDAQ:NSSC - Get Free Report) last announced its quarterly earnings results on Monday, May 4th. The industrial products company reported $0.39 EPS for the quarter, beating analysts' consensus estimates of $0.35 by $0.04. The business had revenue of $49.17 million for the quarter, compared to analyst estimates of $49.26 million. NAPCO Security Technologies had a net margin of 18.70% and a return on equity of 28.93%. NAPCO Security Technologies's quarterly revenue was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.28 EPS. Analysts predict that NAPCO Security Technologies, Inc. will post 1.49 earnings per share for the current fiscal year.

NAPCO Security Technologies 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.

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