Magnetar Financial LLC Sells 11,179 Shares of NAPCO Security Technologies, Inc. $NSSC

Key Points

• Magnetar Financial LLC reduced its holdings in NAPCO Security Technologies by 44.6%, owning 13,891 shares valued at $320,000 after selling 11,179 shares during the first quarter.
• Point72 Asset Management significantly increased its position in NAPCO by 1,221.7%, acquiring a total of 638,173 shares worth approximately $22.7 million.
• NAPCO Security Technologies reported an EPS of $0.33 for the last quarter, exceeding analysts’ expectations, along with a revenue of $50.72 million, surpassing the anticipated $44.26 million.

Magnetar Financial LLC cut its position in shares of NAPCO Security Technologies, Inc. (NASDAQ:NSSC - Free Report) by 44.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,891 shares of the industrial products company's stock after selling 11,179 shares during the period. Magnetar Financial LLC's holdings in NAPCO Security Technologies were worth $320,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Man Group plc increased its stake in shares of NAPCO Security Technologies by 0.7% during the 4th quarter. Man Group plc now owns 78,743 shares of the industrial products company's stock worth $2,800,000 after purchasing an additional 571 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of NAPCO Security Technologies by 3.9% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,014 shares of the industrial products company's stock worth $712,000 after purchasing an additional 751 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of NAPCO Security Technologies by 227.2% during the 1st quarter. GAMMA Investing LLC now owns 1,106 shares of the industrial products company's stock worth $25,000 after purchasing an additional 768 shares during the last quarter. Snowden Capital Advisors LLC increased its stake in shares of NAPCO Security Technologies by 6.2% during the 4th quarter. Snowden Capital Advisors LLC now owns 13,473 shares of the industrial products company's stock worth $481,000 after purchasing an additional 785 shares during the last quarter. Finally, Rhumbline Advisers increased its stake in shares of NAPCO Security Technologies by 1.8% during the 1st quarter. Rhumbline Advisers now owns 50,446 shares of the industrial products company's stock worth $1,161,000 after purchasing an additional 879 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on NSSC. Mizuho began coverage on shares of NAPCO Security Technologies in a research note on Thursday, July 10th. They issued an "outperform" rating and a $39.00 price target on the stock. Wall Street Zen upgraded shares of NAPCO Security Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, August 30th. Lake Street Capital upgraded shares of NAPCO Security Technologies from a "hold" rating to a "buy" rating and increased their price objective for the stock from $26.00 to $39.00 in a research report on Tuesday, August 26th. Zacks Research upgraded shares of NAPCO Security Technologies from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 28th. Finally, Needham & Company LLC increased their price objective on shares of NAPCO Security Technologies from $32.00 to $36.00 and gave the stock a "buy" rating in a research report on Tuesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, NAPCO Security Technologies has a consensus rating of "Moderate Buy" and an average price target of $37.67.

NAPCO Security Technologies Stock Up 0.7%

NASDAQ:NSSC traded up $0.27 during trading hours on Friday, reaching $39.52. The company had a trading volume of 343,124 shares, compared to its average volume of 424,695. The firm has a market cap of $1.41 billion, a price-to-earnings ratio of 33.21 and a beta of 1.51. The business's 50-day simple moving average is $31.98 and its two-hundred day simple moving average is $27.55. NAPCO Security Technologies, Inc. has a twelve month low of $19.00 and a twelve month high of $42.58.

NAPCO Security Technologies (NASDAQ:NSSC - Get Free Report) last posted its quarterly earnings results on Monday, August 25th. The industrial products company reported $0.33 EPS for the quarter, topping analysts' consensus estimates of $0.26 by $0.07. The business had revenue of $50.72 million during the quarter, compared to analysts' expectations of $44.26 million. NAPCO Security Technologies had a net margin of 23.90% and a return on equity of 25.42%. The business's quarterly revenue was up .8% on a year-over-year basis. During the same period last year, the company posted $0.39 earnings per share. As a group, equities analysts predict that NAPCO Security Technologies, Inc. will post 1.24 earnings per share for the current year.

NAPCO Security Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Friday, September 12th will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Friday, September 12th. NAPCO Security Technologies's dividend payout ratio (DPR) is currently 47.06%.

About NAPCO Security Technologies

Napco Security Technologies, Inc develops, manufactures, and sells electronic security systems for commercial, residential, institutional, industrial, and governmental applications in the United States and internationally. Its access control systems include various types of identification readers, control panels, PC-based computers, and electronically activated door-locking devices; intrusion and fire alarm systems, consists of various detectors, a control panel, a digital keypad and signaling equipment; and door locking devices comprise microprocessor-based electronic door locks with push button, card readers and bio-metric operation, door alarms, mechanical door locks, and simple dead bolt locks.