JPMorgan Chase & Co. Sells 340,149 Shares of NAPCO Security Technologies, Inc. $NSSC

Key Points

• JPMorgan Chase & Co. cut its stake in NAPCO by 56.9%, selling 340,149 shares in the quarter and now holds 257,403 shares (about 0.72% of the company) valued at roughly $11.06 million.
• CEO Richard Soloway sold 129,682 shares on March 2 for about $5.83 million, reducing his holding by 10.12%, while insiders collectively own 5.65% of the stock.
• NAPCO beat Q results with $0.38 EPS (vs. $0.33 est.) and 12.4% revenue growth, raised its quarterly dividend to $0.15 (annualized $0.60, 1.6% yield), and carries a "Moderate Buy" analyst consensus with an average target of ~$47.83.

JPMorgan Chase & Co. reduced its stake in NAPCO Security Technologies, Inc. (NASDAQ:NSSC - Free Report) by 56.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 257,403 shares of the industrial products company's stock after selling 340,149 shares during the quarter. JPMorgan Chase & Co. owned about 0.72% of NAPCO Security Technologies worth $11,055,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in NSSC. Cornerstone Planning Group LLC bought a new position in NAPCO Security Technologies during the 3rd quarter worth approximately $25,000. IFP Advisors Inc boosted its stake in shares of NAPCO Security Technologies by 193.3% in the 3rd quarter. IFP Advisors Inc now owns 572 shares of the industrial products company's stock valued at $25,000 after purchasing an additional 377 shares during the last quarter. Exchange Traded Concepts LLC acquired a new stake in shares of NAPCO Security Technologies during the third quarter worth $26,000. State of Wyoming acquired a new stake in shares of NAPCO Security Technologies during the third quarter worth $41,000. Finally, Advisory Services Network LLC bought a new position in NAPCO Security Technologies during the third quarter worth $41,000. 85.07% of the stock is currently owned by institutional investors.

NAPCO Security Technologies Price Performance

NSSC stock opened at $38.31 on Friday. The company's 50-day moving average is $42.30 and its 200-day moving average is $42.10. The stock has a market capitalization of $1.37 billion, a PE ratio of 28.80 and a beta of 1.45. NAPCO Security Technologies, Inc. has a 1 year low of $19.00 and a 1 year high of $48.12.

NAPCO Security Technologies (NASDAQ:NSSC - Get Free Report) last issued its earnings results on Monday, February 2nd. The industrial products company reported $0.38 EPS for the quarter, beating analysts' consensus estimates of $0.33 by $0.05. The business had revenue of $48.17 million during the quarter, compared to analyst estimates of $47.82 million. NAPCO Security Technologies had a return on equity of 27.45% and a net margin of 24.70%.The firm's revenue was up 12.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.28 EPS. On average, analysts anticipate that NAPCO Security Technologies, Inc. will post 1.24 earnings per share for the current fiscal year.

NAPCO Security Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 3rd. Investors of record on Thursday, March 12th will be issued a $0.15 dividend. The ex-dividend date is Thursday, March 12th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.6%. This is an increase from NAPCO Security Technologies's previous quarterly dividend of $0.14. NAPCO Security Technologies's dividend payout ratio (DPR) is 45.11%.

Insider Transactions at NAPCO Security Technologies

In other NAPCO Security Technologies news, CEO Richard Soloway sold 129,682 shares of the business's stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $44.99, for a total transaction of $5,834,393.18. Following the completion of the sale, the chief executive officer owned 1,152,276 shares in the company, valued at approximately $51,840,897.24. The trade was a 10.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 5.65% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on NSSC. Needham & Company LLC reiterated a "buy" rating and set a $49.00 price target (up from $47.00) on shares of NAPCO Security Technologies in a report on Monday, February 2nd. DA Davidson reaffirmed a "buy" rating and set a $50.00 target price on shares of NAPCO Security Technologies in a research note on Tuesday, February 3rd. Finally, Weiss Ratings reiterated a "hold (c+)" rating on shares of NAPCO Security Technologies in a report on Wednesday, January 28th. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $47.83.

About NAPCO Security Technologies

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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