BlackRock Inc. Makes New $213.93 Million Investment in NAPCO Security Technologies, Inc. $NSSC

Key Points

• BlackRock acquired 5.63 million shares of NAPCO Security Technologies in the second quarter, worth approximately $213.9 million and representing a 15.77% stake. Institutional investors collectively own 85.07% of the company.
• Analysts maintain a generally positive outlook, with six Buy ratings and two Holds, producing a “Moderate Buy” consensus and an average price target of $50.40.
• NAPCO exceeded quarterly expectations, reporting $0.50 in earnings per share and $55.81 million in revenue, while revenue increased 10.1% year over year. The company also raised its quarterly dividend to $0.17 per share, implying a 1.9% yield.

BlackRock Inc. acquired a new stake in NAPCO Security Technologies, Inc. (NASDAQ:NSSC - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 5,632,646 shares of the industrial products company's stock, valued at approximately $213,928,000. BlackRock Inc. owned approximately 15.77% of NAPCO Security Technologies at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Arrowstreet Capital Limited Partnership raised its stake in shares of NAPCO Security Technologies by 668.4% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 861,141 shares of the industrial products company's stock valued at $36,986,000 after acquiring an additional 749,065 shares during the period. Copeland Capital Management LLC lifted its holdings in shares of NAPCO Security Technologies by 41.4% during the 1st quarter. Copeland Capital Management LLC now owns 2,009,089 shares of the industrial products company's stock valued at $79,138,000 after acquiring an additional 588,297 shares in the last quarter. First Trust Advisors LP purchased a new stake in NAPCO Security Technologies during the 3rd quarter worth $24,305,000. Bank of New York Mellon Corp purchased a new stake in NAPCO Security Technologies during the 2nd quarter worth $11,812,000. Finally, Millennium Management LLC boosted its position in NAPCO Security Technologies by 62.4% during the 1st quarter. Millennium Management LLC now owns 769,789 shares of the industrial products company's stock worth $17,721,000 after purchasing an additional 295,755 shares during the period. Hedge funds and other institutional investors own 85.07% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on NSSC shares. TD Cowen reissued a "buy" rating and issued a $53.00 price objective (up from $50.00) on shares of NAPCO Security Technologies in a research report on Tuesday, May 5th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of NAPCO Security Technologies in a research report on Friday, August 7th. Benchmark reiterated a "buy" rating on shares of NAPCO Security Technologies in a research note on Tuesday. DA Davidson set a $52.00 target price on NAPCO Security Technologies in a report on Tuesday. Finally, Wall Street Zen downgraded NAPCO Security Technologies from a "buy" rating to a "hold" rating in a report on Saturday, July 4th. Six equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, NAPCO Security Technologies presently has an average rating of "Moderate Buy" and an average target price of $50.40.

NAPCO Security Technologies Price Performance

NAPCO Security Technologies stock opened at $35.28 on Friday. NAPCO Security Technologies, Inc. has a 12-month low of $33.91 and a 12-month high of $51.77. The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of 29.16 and a beta of 1.45. The firm's fifty day moving average price is $37.49 and its 200 day moving average price is $39.85.

NAPCO Security Technologies (NASDAQ:NSSC - Get Free Report) last issued its quarterly earnings data on Monday, August 24th. The industrial products company reported $0.50 earnings per share for the quarter, beating analysts' consensus estimates of $0.39 by $0.11. NAPCO Security Technologies had a return on equity of 31.41% and a net margin of 21.27%.The firm had revenue of $55.81 million during the quarter, compared to analyst estimates of $52.51 million. During the same quarter last year, the firm earned $0.33 EPS. NAPCO Security Technologies's quarterly revenue was up 10.1% on a year-over-year basis. Analysts forecast that NAPCO Security Technologies, Inc. will post 1.66 earnings per share for the current fiscal year.

NAPCO Security Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Friday, September 11th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, September 11th. This is an increase from NAPCO Security Technologies's previous quarterly dividend of $0.15. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.9%. NAPCO Security Technologies's dividend payout ratio is 57.69%.

NAPCO Security Technologies Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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