Corient Private Wealth LP Makes New $1.85 Million Investment in NAPCO Security Technologies, Inc. $NSSC

Key Points

• Corient Private Wealth LP acquired 48,739 NAPCO Security Technologies shares worth approximately $1.85 million, while institutional investors collectively own 85.07% of the company.
• NAPCO reported quarterly earnings of $0.50 per share, beating estimates of $0.39, with revenue up 10.1% year over year to $55.81 million.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus and an average price target of $50.40. The company also raised its quarterly dividend to $0.17 per share, a 13.3% increase from the prior $0.15.

Corient Private Wealth LP bought a new stake in shares of NAPCO Security Technologies, Inc. (NASDAQ:NSSC - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 48,739 shares of the industrial products company's stock, valued at approximately $1,851,000. Corient Private Wealth LP owned 0.14% of NAPCO Security Technologies at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of NAPCO Security Technologies by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,899 shares of the industrial products company's stock worth $481,000 after buying an additional 885 shares during the period. Millennium Management LLC grew its position in NAPCO Security Technologies by 62.4% in the 1st quarter. Millennium Management LLC now owns 769,789 shares of the industrial products company's stock valued at $17,721,000 after acquiring an additional 295,755 shares during the last quarter. Goldman Sachs Group Inc. grew its position in NAPCO Security Technologies by 75.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 589,290 shares of the industrial products company's stock valued at $13,565,000 after acquiring an additional 254,007 shares during the last quarter. Jane Street Group LLC increased its stake in NAPCO Security Technologies by 351.7% in the first quarter. Jane Street Group LLC now owns 98,221 shares of the industrial products company's stock worth $2,261,000 after purchasing an additional 76,478 shares during the period. Finally, Acadian Asset Management LLC purchased a new stake in NAPCO Security Technologies in the first quarter worth $91,000. Institutional investors own 85.07% of the company's stock.

Insider Activity at NAPCO Security Technologies

In related news, Director Donna Soloway sold 20,962 shares of NAPCO Security Technologies stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $34.62, for a total transaction of $725,704.44. Following the transaction, the director directly owned 20,962 shares of the company's stock, valued at $725,704.44. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Richard Soloway sold 379,529 shares of the business's stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $34.50, for a total transaction of $13,093,750.50. Following the completion of the transaction, the chairman directly owned 621,958 shares of the company's stock, valued at $21,457,551. This trade represents a 37.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 523,962 shares of company stock valued at $18,257,168 in the last ninety days. Corporate insiders own 5.65% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on NSSC. Needham & Company LLC reiterated a "buy" rating and set a $49.00 target price on shares of NAPCO Security Technologies in a research report on Friday, August 21st. DA Davidson set a $52.00 price target on shares of NAPCO Security Technologies in a research note on Tuesday, August 25th. Weiss Ratings reiterated a "hold (c)" rating on shares of NAPCO Security Technologies in a report on Friday, August 7th. Wall Street Zen cut shares of NAPCO Security Technologies from a "buy" rating to a "hold" rating in a research report on Saturday, July 4th. Finally, Benchmark restated a "buy" rating on shares of NAPCO Security Technologies in a research note on Tuesday, August 25th. Six equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $50.40.

NAPCO Security Technologies Stock Up 3.9%

Shares of NASDAQ NSSC opened at $37.05 on Friday. NAPCO Security Technologies, Inc. has a twelve month low of $33.91 and a twelve month high of $51.77. The firm has a market cap of $1.33 billion, a PE ratio of 30.62 and a beta of 1.43. The business has a fifty day simple moving average of $37.33 and a two-hundred day simple moving average of $39.59.

NAPCO Security Technologies (NASDAQ:NSSC - Get Free Report) last released its quarterly earnings data on Monday, August 24th. The industrial products company reported $0.50 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $52.51 million. During the same period in the previous year, the company posted $0.33 earnings per share. The firm's quarterly revenue was up 10.1% on a year-over-year basis. On average, research analysts expect that NAPCO Security Technologies, Inc. will post 1.66 earnings per share for the current year.

NAPCO Security Technologies Increases Dividend

The firm 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 $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Friday, September 11th. This is a boost from NAPCO Security Technologies's previous quarterly dividend of $0.15. NAPCO Security Technologies's dividend payout ratio is currently 49.59%.

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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