Royal Bank of Canada Sells 19,436 Shares of NAPCO Security Technologies, Inc. $NSSC

Key Points

• Royal Bank of Canada has reduced its stake in NAPCO Security Technologies by 2.6%, owning approximately 727,368 shares worth $16.7 million.
• Institutional investors own 85.07% of NAPCO Security Technologies, with several firms like Vanguard Group and Copeland Capital Management increasing their positions in the first quarter.
• NAPCO Security Technologies reported a quarterly EPS of $0.33, exceeding estimates and showing a slight year-over-year revenue increase, alongside announcing a quarterly dividend of $0.14 per share.

Royal Bank of Canada cut its holdings in shares of NAPCO Security Technologies, Inc. (NASDAQ:NSSC - Free Report) by 2.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 727,368 shares of the industrial products company's stock after selling 19,436 shares during the period. Royal Bank of Canada owned approximately 2.04% of NAPCO Security Technologies worth $16,745,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Craig Hallum raised NAPCO Security Technologies from a "hold" rating to a "buy" rating and set a $40.00 price target on the stock in a research report on Tuesday, August 26th. Mizuho assumed coverage on NAPCO Security Technologies in a research report on Thursday, July 10th. They set an "outperform" rating and a $39.00 price target on the stock. Needham & Company LLC boosted their price target on NAPCO Security Technologies from $32.00 to $36.00 and gave the stock a "buy" rating in a research report on Tuesday, August 26th. Zacks Research raised NAPCO Security Technologies from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 28th. Finally, DA Davidson upped their target price on NAPCO Security Technologies from $33.00 to $45.00 and gave the company a "buy" rating in a research report on Tuesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $37.67.

NAPCO Security Technologies Price Performance

NASDAQ:NSSC traded up $0.44 during trading hours on Friday, reaching $41.93. 490,822 shares of the company were exchanged, compared to its average volume of 441,431. The company has a market capitalization of $1.50 billion, a P/E ratio of 35.24 and a beta of 1.51. NAPCO Security Technologies, Inc. has a 1-year low of $19.00 and a 1-year high of $42.58. The business has a 50 day moving average of $33.06 and a 200 day moving average of $28.10.

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

NAPCO Security Technologies Dividend Announcement

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