Legal & General Group Plc bought a new stake in NAPCO Security Technologies, Inc. (NASDAQ:NSSC - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 84,279 shares of the industrial products company's stock, valued at approximately $3,201,000. Legal & General Group Plc owned about 0.24% of NAPCO Security Technologies at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in NSSC. BlackRock Inc. acquired a new position in shares of NAPCO Security Technologies in the second quarter valued at approximately $213,928,000. Arrowstreet Capital Limited Partnership grew its holdings in NAPCO Security Technologies by 668.4% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 861,141 shares of the industrial products company's stock worth $36,986,000 after acquiring an additional 749,065 shares during the last quarter. Copeland Capital Management LLC increased its position in NAPCO Security Technologies by 41.4% in 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 during the period. First Trust Advisors LP bought a new position in shares of NAPCO Security Technologies during the third quarter valued at $24,305,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of NAPCO Security Technologies during the second quarter worth $11,812,000. 85.07% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several analysts recently weighed in on NSSC shares. Wall Street Zen cut shares of NAPCO Security Technologies from a "buy" rating to a "hold" rating in a research note on Saturday, July 4th. Benchmark reaffirmed a "buy" rating on shares of NAPCO Security Technologies in a report on Tuesday, August 25th. Weiss Ratings reiterated a "hold (c)" rating on shares of NAPCO Security Technologies in a research report on Friday, August 7th. DA Davidson set a $52.00 price target on NAPCO Security Technologies in a research note on Tuesday, August 25th. Finally, Needham & Company LLC restated a "buy" rating and set a $49.00 price objective on shares of NAPCO Security Technologies in a research report on Friday, August 21st. Six analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $50.40.
View Our Latest Report on NSSC
Insiders Place Their Bets
In other news, Chairman Richard Soloway sold 379,529 shares of the stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $34.50, for a total transaction of $13,093,750.50. Following the transaction, the chairman owned 621,958 shares of the company's stock, valued at $21,457,551. This represents a 37.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Donna Soloway sold 20,962 shares of the firm's stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $34.62, for a total value of $725,704.44. Following the completion of the sale, the director owned 20,962 shares of the company's stock, valued at approximately $725,704.44. This represents a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 523,962 shares of company stock valued at $18,257,168 over the last 90 days. Corporate insiders own 5.65% of the company's stock.
NAPCO Security Technologies Price Performance
Shares of NAPCO Security Technologies stock opened at $37.01 on Friday. The stock's 50-day moving average is $37.33 and its 200 day moving average is $39.57. NAPCO Security Technologies, Inc. has a one year low of $33.91 and a one year high of $51.77. The firm has a market cap of $1.32 billion, a price-to-earnings ratio of 30.59 and a beta of 1.43.
NAPCO Security Technologies (NASDAQ:NSSC - Get Free Report) last issued its earnings results on Monday, August 24th. The industrial products company reported $0.50 earnings per share for the quarter, topping analysts' consensus estimates of $0.39 by $0.11. The business had revenue of $55.81 million during the quarter, compared to the consensus estimate of $52.51 million. NAPCO Security Technologies had a return on equity of 31.41% and a net margin of 21.27%.The firm's revenue for the quarter was up 10.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.33 earnings per share. On average, sell-side analysts expect that NAPCO Security Technologies, Inc. will post 1.66 EPS for the current fiscal year.
NAPCO Security Technologies Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Friday, September 11th will be paid a dividend of $0.17 per share. This is a boost from NAPCO Security Technologies's previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Friday, September 11th. NAPCO Security Technologies's payout ratio is currently 49.59%.
NAPCO Security Technologies Company Profile
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Free Report)
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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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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