NAPCO Security Technologies, Inc. $NSSC Shares Purchased by Corient Private Wealth LP

Key Points

• Corient Private Wealth LP increased its NAPCO Security Technologies stake by 326.5% in the second quarter, owning 48,576 shares valued at approximately $1.85 million. Institutional investors collectively own 85.07% of NSSC.
• Company insiders sold 523,962 shares worth approximately $18.26 million over the past 90 days, including substantial sales by Chairman Richard Soloway and Director Donna Soloway.
• NAPCO reported quarterly EPS of $0.50, beating estimates by $0.11, while revenue rose 10.1% year over year to $55.81 million. Analysts maintain a “Moderate Buy” consensus with a $50.40 price target, and the company raised its quarterly dividend to $0.17 per share.

Corient Private Wealth LP grew its stake in shares of NAPCO Security Technologies, Inc. (NASDAQ:NSSC - Free Report) by 326.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 48,576 shares of the industrial products company's stock after acquiring an additional 37,186 shares during the quarter. Corient Private Wealth LP owned about 0.14% of NAPCO Security Technologies worth $1,845,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. ProShare Advisors LLC raised its stake in shares of NAPCO Security Technologies by 6.9% in the 4th quarter. ProShare Advisors LLC now owns 6,313 shares of the industrial products company's stock valued at $263,000 after acquiring an additional 407 shares during the period. Quantinno Capital Management LP grew its stake in shares of NAPCO Security Technologies by 3.2% during the first quarter. Quantinno Capital Management LP now owns 19,464 shares of the industrial products company's stock valued at $767,000 after acquiring an additional 596 shares in the last quarter. KBC Group NV acquired a new stake in NAPCO Security Technologies during the 1st quarter valued at approximately $26,000. Lazard Asset Management LLC increased its stake in shares of NAPCO Security Technologies by 6.2% in the first quarter. Lazard Asset Management LLC now owns 14,312 shares of the industrial products company's stock worth $564,000 after buying an additional 841 shares during the last quarter. Finally, SkyOak Wealth LLC raised its stake in shares of NAPCO Security Technologies by 14.2% in the 2nd quarter. SkyOak Wealth LLC now owns 7,036 shares of the industrial products company's stock valued at $267,000 after purchasing an additional 874 shares in the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Donna Soloway sold 20,962 shares of the firm's stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $34.62, for a total value of $725,704.44. Following the completion of the transaction, the director directly owned 20,962 shares of the company's stock, valued at $725,704.44. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Richard Soloway sold 379,529 shares of the company's 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 completion of the sale, the chairman directly owned 621,958 shares in the company, valued at approximately $21,457,551. The trade was a 37.90% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 523,962 shares of company stock worth $18,257,168. 5.65% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on NSSC. Benchmark reissued a "buy" rating on shares of NAPCO Security Technologies in a report on Tuesday, August 25th. Wall Street Zen lowered NAPCO Security Technologies from a "buy" rating to a "hold" rating in a research report on Saturday, July 4th. Needham & Company LLC reiterated a "buy" rating and issued a $49.00 price objective on shares of NAPCO Security Technologies in a report on Friday, August 21st. DA Davidson set a $52.00 target price on NAPCO Security Technologies in a report on Tuesday, August 25th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of NAPCO Security Technologies in a research report on Friday, August 7th. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $50.40.

NAPCO Security Technologies Price Performance

Shares of NSSC stock opened at $35.68 on Friday. The stock's 50-day moving average is $37.02 and its two-hundred day moving average is $38.69. NAPCO Security Technologies, Inc. has a fifty-two week low of $33.91 and a fifty-two week high of $51.77. The firm has a market cap of $1.28 billion, a P/E ratio of 29.49 and a beta of 1.43.

NAPCO Security Technologies (NASDAQ:NSSC - Get Free Report) last released its quarterly earnings data on Monday, August 24th. The industrial products company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.11. NAPCO Security Technologies had a net margin of 21.27% and a return on equity of 31.41%. The business had revenue of $55.81 million during the quarter, compared to analyst estimates of $52.51 million. During the same quarter in the previous year, the business earned $0.33 EPS. NAPCO Security Technologies's quarterly revenue was up 10.1% compared to the same quarter last year. As a group, research analysts expect that NAPCO Security Technologies, Inc. will post 1.66 EPS for the current year.

NAPCO Security Technologies Increases Dividend

The company also recently declared 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 positive change from NAPCO Security Technologies's previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a yield of 1.9%. The ex-dividend date is Friday, September 11th. NAPCO Security Technologies's dividend payout ratio is presently 56.20%.

NAPCO Security Technologies Company Profile

NAPCO Security Technologies, Inc is a security products and solutions company that designs, develops, manufactures and sells equipment for residential, commercial, institutional and industrial applications. The company's offerings address intrusion detection, fire and life safety, access control, locking and school security needs.

Its product portfolio includes security alarm systems, control panels, sensors, alarm communications equipment, access-control systems, electronic locks and related software and services.

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