Wallace Capital Management Inc. Trims Stake in National Presto Industries, Inc. (NYSE:NPK)

Wallace Capital Management Inc. decreased its position in National Presto Industries, Inc. (NYSE:NPK - Free Report) by 13.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,447 shares of the conglomerate's stock after selling 4,889 shares during the period. National Presto Industries makes up about 0.4% of Wallace Capital Management Inc.'s portfolio, making the stock its 23rd biggest holding. Wallace Capital Management Inc. owned about 0.44% of National Presto Industries worth $3,095,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NPK. PNC Financial Services Group Inc. increased its stake in shares of National Presto Industries by 50.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 362 shares of the conglomerate's stock valued at $36,000 after purchasing an additional 121 shares in the last quarter. Newbridge Financial Services Group Inc. acquired a new position in shares of National Presto Industries during the fourth quarter valued at approximately $79,000. Lazard Asset Management LLC lifted its position in shares of National Presto Industries by 64.6% in the fourth quarter. Lazard Asset Management LLC now owns 856 shares of the conglomerate's stock valued at $84,000 after acquiring an additional 336 shares in the last quarter. US Bancorp DE lifted its position in shares of National Presto Industries by 11.6% in the fourth quarter. US Bancorp DE now owns 1,616 shares of the conglomerate's stock valued at $159,000 after acquiring an additional 168 shares in the last quarter. Finally, Janus Henderson Group PLC acquired a new stake in shares of National Presto Industries in the fourth quarter worth approximately $230,000. Hedge funds and other institutional investors own 58.57% of the company's stock.

National Presto Industries Stock Performance

Shares of NYSE:NPK traded up $1.26 during trading on Friday, reaching $85.04. The stock had a trading volume of 27,706 shares, compared to its average volume of 40,245. The business has a fifty day moving average price of $85.22 and a 200-day moving average price of $89.63. The stock has a market cap of $607.78 million, a PE ratio of 17.90 and a beta of 0.49. National Presto Industries, Inc. has a 1-year low of $69.58 and a 1-year high of $103.93.

National Presto Industries (NYSE:NPK - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The conglomerate reported $1.07 earnings per share for the quarter. The company had revenue of $103.64 million for the quarter. National Presto Industries had a return on equity of 9.88% and a net margin of 9.63%.

National Presto Industries Dividend Announcement

The business also recently declared an annual dividend, which was paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th were issued a dividend of $1.00 per share. The ex-dividend date was Tuesday, March 4th. This represents a dividend yield of 1%. National Presto Industries's dividend payout ratio is presently 16.78%.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered National Presto Industries from a "buy" rating to a "hold" rating in a research note on Monday, May 12th.

About National Presto Industries

National Presto Industries, Inc provides housewares and small appliance, defense, and safety products in North America. The company's Housewares/Small Appliance segment designs, markets, and distributes housewares and small electrical appliances, including pressure cookers and canners; heat control line of skillets, griddles, woks, and multi-purpose cookers; slow cookers; deep fryers; air fryers; waffle makers; pizza ovens; slicer/shredders; electric heaters; hot air, oil, and microwave corn poppers; dehydrators; vacuum sealers; rice cookers; microwave bacon cookers; egg cookers; coffeemakers and coffeemaker accessories; electric knife sharpeners; and timers under the Presto Control Master brand.