Engineers Gate Manager LP Sells 121,621 Shares of NPK International Inc. $NPKI

Key Points

• Engineers Gate Manager LP cut its NPK International stake by 87.5%, selling 121,621 shares in the second quarter and retaining 17,325 shares valued at approximately $276,000. Institutional investors collectively own 80.81% of the company.
• NPK International reported quarterly EPS of $0.15, exceeding analysts’ $0.13 estimate, on revenue of $81.58 million. Analysts expect full-year EPS of $0.55.
• Shares opened at $11.78, well below the consensus analyst price target of $18.00; the stock carries a “Moderate Buy” consensus rating, although Weiss Ratings downgraded it to “hold.”

Engineers Gate Manager LP lowered its position in NPK International Inc. (NYSE:NPKI - Free Report) by 87.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,325 shares of the company's stock after selling 121,621 shares during the quarter. Engineers Gate Manager LP's holdings in NPK International were worth $276,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fifth Third Bancorp purchased a new stake in shares of NPK International during the 1st quarter worth $73,000. Entropy Technologies LP purchased a new position in shares of NPK International in the 1st quarter valued at about $151,000. ProShare Advisors LLC raised its position in shares of NPK International by 11.5% during the 4th quarter. ProShare Advisors LLC now owns 14,970 shares of the company's stock worth $178,000 after acquiring an additional 1,542 shares in the last quarter. XML Financial LLC acquired a new stake in shares of NPK International during the 1st quarter worth about $181,000. Finally, Aristides Capital LLC purchased a new stake in NPK International during the fourth quarter worth approximately $188,000. Institutional investors and hedge funds own 80.81% of the company's stock.

Insider Activity

In other news, Director Michael Lewis sold 2,013 shares of the stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $14.26, for a total transaction of $28,705.38. Following the completion of the sale, the director owned 135,865 shares in the company, valued at approximately $1,937,434.90. This represents a 1.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Matthew James Warren sold 2,991 shares of the firm's stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $13.41, for a total value of $40,109.31. Following the transaction, the chief accounting officer directly owned 51,439 shares in the company, valued at approximately $689,796.99. This represents a 5.50% 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. Over the last three months, insiders sold 15,004 shares of company stock valued at $203,715. Insiders own 4.20% of the company's stock.

NPK International Stock Up 0.8%

NPKI opened at $11.78 on Friday. NPK International Inc. has a one year low of $10.73 and a one year high of $16.50. 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 stock has a market capitalization of $999.99 million, a P/E ratio of 23.55 and a beta of 1.30. The business's 50-day simple moving average is $13.32 and its 200-day simple moving average is $14.28.

NPK International (NYSE:NPKI - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.13 by $0.02. NPK International had a return on equity of 11.31% and a net margin of 14.19%.The firm had revenue of $81.58 million for the quarter. Analysts anticipate that NPK International Inc. will post 0.55 EPS for the current year.

Wall Street Analysts Forecast Growth

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

NPK International Company Profile

NPK International, Inc NYSE: NPKI is a diversified manufacturer of defense, housewares and absorbent products. The company serves government, commercial and consumer markets through its operating businesses, with activities spanning specialized defense products, household appliances and personal-care items.

Its defense business produces ammunition and related components, including 40-millimeter ammunition and fuzing products, primarily for the U.S. military and other government customers.

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