Bank of New York Mellon Corp Takes $3.86 Million Position in NPK International Inc. $NPKI

Key Points

• Bank of New York Mellon acquired 242,570 shares of NPK International worth approximately $3.86 million, while several other institutions also initiated positions. Institutional investors collectively own 80.81% of the company.
• NPK International reported quarterly earnings of $0.15 per share, beating analyst expectations of $0.13, on revenue of $81.58 million. Analysts maintain a “Moderate Buy” consensus rating with an $18.00 average price target.
• NPKI opened at $13.24, below its 50-day and 200-day moving averages. Company insiders sold 20,338 shares worth about $286,399 over the past 90 days, though the transactions occurred under pre-arranged trading plans.

Bank of New York Mellon Corp purchased a new position in shares of NPK International Inc. (NYSE:NPKI - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 242,570 shares of the company's stock, valued at approximately $3,859,000. Bank of New York Mellon Corp owned approximately 0.29% of NPK International as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NPKI. Envestnet Asset Management Inc. purchased a new stake in shares of NPK International in the second quarter valued at approximately $141,000. Creative Planning purchased a new stake in shares of NPK International during the second quarter worth about $270,000. Cetera Investment Advisers acquired a new position in shares of NPK International during the 2nd quarter worth about $191,000. JPMorgan Chase & Co. purchased a new position in NPK International in the 2nd quarter valued at about $633,000. Finally, Legal & General Group Plc acquired a new stake in NPK International in the 2nd quarter worth about $710,000. Hedge funds and other institutional investors own 80.81% of the company's stock.

Analyst Ratings Changes

Separately, Weiss Ratings cut NPK International from a "hold (c+)" rating to a "hold (c)" rating in a research report on Tuesday, June 30th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, NPK International currently has an average rating of "Moderate Buy" and an average price target of $18.00.

NPK International Stock Performance

Shares of NPKI stock opened at $13.24 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.40 and a current ratio of 1.61. The firm has a market cap of $1.12 billion, a P/E ratio of 26.48 and a beta of 1.30. The firm's 50 day moving average price is $13.87 and its 200-day moving average price is $14.44. NPK International Inc. has a one year low of $10.35 and a one year high of $16.50.

NPK International (NYSE:NPKI - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.13 by $0.02. The company had revenue of $81.58 million during the quarter. NPK International had a net margin of 14.19% and a return on equity of 11.31%. As a group, equities research analysts predict that NPK International Inc. will post 0.55 EPS for the current year.

Insider Transactions at NPK International

In related news, Director Michael Lewis sold 2,013 shares of NPK International stock in a transaction on Monday, August 17th. The shares were sold at an average price of $14.26, for a total transaction of $28,705.38. Following the sale, the director directly owned 135,865 shares in the company, valued at $1,937,434.90. This trade represents a 1.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Rose M. Robeson sold 10,000 shares of the firm's stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $13.49, for a total value of $134,900.00. Following the transaction, the director directly owned 215,147 shares in the company, valued at approximately $2,902,333.03. The trade was a 4.44% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 20,338 shares of company stock valued at $286,399. Corporate insiders own 4.20% of the company's stock.

NPK International Company Profile

NPK International, Inc NYSE: NPKI is a specialty chemical distributor supplying a broad range of industrial and performance materials across diverse end-markets. Its product portfolio includes acetic acid and derivatives, alcohols, ketones, esters, glycol ethers, glycols, specialty solvents, select inorganic chemicals and crop-protection intermediates. These materials serve industries such as coatings, adhesives and sealants, oil and gas, personal care, pharmaceuticals, agrochemicals and water treatment.

The company places a strong emphasis on supply-chain security and technical service, maintaining warehousing, logistics support and laboratory capabilities at its regional distribution centers.

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