Granahan Investment Management LLC Has $5.82 Million Stock Holdings in NPK International Inc. $NPKI

Key Points

• Granahan Investment Management cut its NPK International stake by 30.8% in the first quarter, but still held 401,658 shares valued at about $5.82 million.
• Insider selling picked up recently, including a 2,013-share sale by Director Michael A. Lewis and a much larger 167,375-share sale by CEO Matthew Lanigan, both under pre-arranged 10b5-1 plans.
• NPK International reported better-than-expected quarterly earnings of $0.12 per share on $75.07 million in revenue, while analysts currently rate the stock a Moderate Buy with an average price target of $14.17.

Granahan Investment Management LLC lowered its position in NPK International Inc. (NYSE:NPKI - Free Report) by 30.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 401,658 shares of the company's stock after selling 178,789 shares during the quarter. Granahan Investment Management LLC owned 0.48% of NPK International worth $5,820,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Ameriprise Financial Inc. acquired a new stake in NPK International during the 2nd quarter worth approximately $51,903,000. Wasatch Advisors LP bought a new stake in NPK International during the 2nd quarter worth approximately $25,341,000. Conversant Capital LLC acquired a new position in NPK International in the 2nd quarter valued at approximately $23,103,000. Thrivent Financial for Lutherans acquired a new position in NPK International in the 4th quarter valued at approximately $18,926,000. Finally, Cannell Capital LLC bought a new position in shares of NPK International during the second quarter valued at $12,917,000. Institutional investors own 80.81% of the company's stock.

Insider Buying and Selling

In related news, Director Michael A. Lewis sold 2,013 shares of the company's stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $15.30, for a total value of $30,798.90. Following the sale, the director owned 129,320 shares in the company, valued at $1,978,596. This represents a 1.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Matthew Lanigan sold 167,375 shares of the firm's stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $14.43, for a total transaction of $2,415,221.25. Following the completion of the transaction, the chief executive officer directly owned 254,699 shares in the company, valued at approximately $3,675,306.57. The trade was a 39.66% 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. Insiders have sold a total of 188,159 shares of company stock worth $2,721,117 in the last ninety days. Corporate insiders own 4.20% of the company's stock.

NPK International Trading Down 1.7%

Shares of NPKI stock opened at $14.25 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.40 and a current ratio of 1.58. NPK International Inc. has a fifty-two week low of $8.63 and a fifty-two week high of $16.50. The stock has a 50 day simple moving average of $14.85 and a two-hundred day simple moving average of $14.49. The company has a market cap of $1.20 billion, a P/E ratio of 30.98 and a beta of 1.22.

NPK International (NYSE:NPKI - Get Free Report) last issued its earnings results on Thursday, April 30th. The company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.01. The business had revenue of $75.07 million for the quarter. NPK International had a net margin of 13.71% and a return on equity of 10.56%. Research analysts forecast that NPK International Inc. will post 0.54 earnings per share for the current year.

Wall Street Analysts Forecast Growth

NPKI has been the topic of a number of recent research reports. B. Riley Financial reiterated a "buy" rating on shares of NPK International in a report on Monday, May 4th. Weiss Ratings downgraded NPK International from a "hold (c+)" rating to a "hold (c)" rating in a report on Tuesday, June 30th. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $14.17.

NPK International 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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