NAPCO Security Technologies, Inc. $NSSC Shares Sold by Congress Asset Management Co.

Key Points

• Congress Asset Management Co. reduced its stake in NAPCO Security Technologies by 5.8%, now holding approximately 262,494 shares valued at $7.79 million.
• Several hedge funds have significantly increased their positions in NAPCO, with Doma Perpetual Capital Management growing its stake by 53.4%, acquiring over 409,000 shares in the first quarter.
• NAPCO reported $0.33 EPS for the recent quarter, exceeding analysts' consensus estimates and accompanied by record revenues of $50.72 million.

Congress Asset Management Co. decreased its stake in shares of NAPCO Security Technologies, Inc. (NASDAQ:NSSC - Free Report) by 5.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 262,494 shares of the industrial products company's stock after selling 16,302 shares during the period. Congress Asset Management Co. owned approximately 0.74% of NAPCO Security Technologies worth $7,793,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in NSSC. Doma Perpetual Capital Management LLC grew its stake in shares of NAPCO Security Technologies by 53.4% in the 1st quarter. Doma Perpetual Capital Management LLC now owns 1,175,655 shares of the industrial products company's stock worth $27,064,000 after purchasing an additional 409,123 shares during the last quarter. CenterBook Partners LP acquired a new position in shares of NAPCO Security Technologies in the 1st quarter worth approximately $8,199,000. Wellington Management Group LLP grew its stake in shares of NAPCO Security Technologies by 121.4% in the 1st quarter. Wellington Management Group LLP now owns 649,318 shares of the industrial products company's stock worth $14,947,000 after purchasing an additional 356,094 shares during the last quarter. Copeland Capital Management LLC grew its stake in shares of NAPCO Security Technologies by 25.1% in the 1st quarter. Copeland Capital Management LLC now owns 1,493,928 shares of the industrial products company's stock worth $34,390,000 after purchasing an additional 299,305 shares during the last quarter. Finally, Millennium Management LLC grew its stake in shares of NAPCO Security Technologies by 62.4% in the 1st quarter. Millennium Management LLC now owns 769,789 shares of the industrial products company's stock worth $17,721,000 after purchasing an additional 295,755 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company's stock.

NAPCO Security Technologies Stock Performance

NSSC stock opened at $43.14 on Friday. The stock has a market cap of $1.54 billion, a P/E ratio of 36.25 and a beta of 1.51. The firm has a 50 day simple moving average of $35.55 and a 200 day simple moving average of $29.35. NAPCO Security Technologies, Inc. has a 52 week low of $19.00 and a 52 week high of $45.03.

NAPCO Security Technologies (NASDAQ:NSSC - Get Free Report) last posted its earnings results on Monday, August 25th. The industrial products company reported $0.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.26 by $0.07. The firm 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 company's revenue was up .8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.39 earnings per share. Sell-side analysts predict that NAPCO Security Technologies, Inc. will post 1.24 EPS for the current year.

NAPCO Security Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Friday, September 12th will be paid a $0.14 dividend. The ex-dividend date is Friday, September 12th. This represents a $0.56 dividend on an annualized basis and a yield of 1.3%. NAPCO Security Technologies's payout ratio is 47.06%.

Wall Street Analyst Weigh In

NSSC has been the topic of several recent research reports. Craig Hallum raised shares of NAPCO Security Technologies from a "hold" rating to a "buy" rating and set a $40.00 price objective on the stock in a research note on Tuesday, August 26th. Zacks Research upgraded shares of NAPCO Security Technologies from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 28th. Wall Street Zen upgraded shares of NAPCO Security Technologies from a "hold" rating to a "buy" rating in a report on Saturday, August 30th. Needham & Company LLC raised their target price on shares of NAPCO Security Technologies from $32.00 to $36.00 and gave the stock a "buy" rating in a report on Tuesday, August 26th. Finally, Lake Street Capital upgraded shares of NAPCO Security Technologies from a "hold" rating to a "buy" rating and raised their target price for the stock from $26.00 to $39.00 in a report on Tuesday, August 26th. One 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's stock. According to data from MarketBeat.com, NAPCO Security Technologies presently has a consensus rating of "Moderate Buy" and an average price target of $38.50.

NAPCO Security Technologies Company Profile

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.

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