Bank of New York Mellon Corp Purchases New Stake in National Presto Industries, Inc. $NPK

Key Points

• Bank of New York Mellon purchased 60,090 shares of National Presto Industries, valued at approximately $7.5 million, giving it a 0.84% stake. Institutional investors collectively own 58.57% of the company.
• Analysts recently upgraded National Presto Industries to “Buy,” and the stock has a consensus “Buy” rating based on MarketBeat data.
• NPK opened at $144.90, near the upper end of its 52-week range, with a market capitalization of about $1.03 billion. In its latest quarter, the company reported $2.21 in EPS and $146.6 million in revenue.

Bank of New York Mellon Corp purchased a new stake in shares of National Presto Industries, Inc. (NYSE:NPK - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 60,090 shares of the conglomerate's stock, valued at approximately $7,511,000. Bank of New York Mellon Corp owned about 0.84% of National Presto Industries at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. New York State Teachers Retirement System lifted its stake in shares of National Presto Industries by 1.3% during the 4th quarter. New York State Teachers Retirement System now owns 7,554 shares of the conglomerate's stock worth $806,000 after buying an additional 100 shares during the last quarter. Nebula Research & Development LLC lifted its position in National Presto Industries by 4.1% during the second quarter. Nebula Research & Development LLC now owns 3,778 shares of the conglomerate's stock worth $370,000 after acquiring an additional 150 shares during the last quarter. Pullen Investment Management LLC lifted its position in National Presto Industries by 1.4% during the first quarter. Pullen Investment Management LLC now owns 15,230 shares of the conglomerate's stock worth $2,087,000 after acquiring an additional 203 shares during the last quarter. Martingale Asset Management L P boosted its holdings in shares of National Presto Industries by 2.7% during the fourth quarter. Martingale Asset Management L P now owns 9,046 shares of the conglomerate's stock worth $966,000 after acquiring an additional 241 shares during the period. Finally, Kestra Advisory Services LLC bought a new stake in shares of National Presto Industries during the fourth quarter worth approximately $27,000. 58.57% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on NPK shares. Wall Street Zen upgraded National Presto Industries from a "hold" rating to a "buy" rating in a research note on Saturday, August 22nd. Weiss Ratings upgraded National Presto Industries from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday, August 25th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, National Presto Industries has a consensus rating of "Buy".

National Presto Industries Trading Up 0.1%

NYSE NPK opened at $144.90 on Friday. The company has a market cap of $1.03 billion, a price-to-earnings ratio of 24.23 and a beta of 0.47. The company has a 50 day moving average of $133.59 and a 200-day moving average of $134.64. National Presto Industries, Inc. has a 1-year low of $91.28 and a 1-year high of $158.17.

National Presto Industries (NYSE:NPK - Get Free Report) last posted its quarterly earnings results on Friday, August 14th. The conglomerate reported $2.21 earnings per share (EPS) 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.

About National Presto Industries

National Presto Industries, Inc is an American diversified manufacturer headquartered in Eau Claire, Wisconsin. The company operates primarily through three business segments—Housewares/Small Appliances, Defense Products, and Safety—which together supply a range of consumer and industrial markets. Founded in 1905, National Presto Industries has built a reputation for durable, user-friendly products marketed under the Presto and National Presto brands.

In its Housewares/Small Appliances segment, National Presto offers a variety of kitchen products designed to simplify home cooking and meal preparation.

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