Principal Financial Group Inc. Raises Stake in NAPCO Security Technologies, Inc. $NSSC

Key Points

• Principal Financial Group increased its NAPCO Security Technologies stake by 239.7% in the first quarter, bringing its holdings to 225,314 shares valued at approximately $8.9 million. Institutional investors collectively own 85.07% of NSSC.
• NAPCO reported quarterly EPS of $0.39, exceeding the $0.35 analyst consensus, while revenue rose 11.8% year over year to $49.17 million. Analysts forecast full-year EPS of $1.49.
• The company declared a quarterly dividend of $0.15, equivalent to $0.60 annually and a 1.7% yield. Wall Street maintains a “Moderate Buy” consensus, with an average price target of $48.67 versus the shares’ recent price of $35.74.

Principal Financial Group Inc. grew its stake in NAPCO Security Technologies, Inc. (NASDAQ:NSSC - Free Report) by 239.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 225,314 shares of the industrial products company's stock after acquiring an additional 158,984 shares during the quarter. Principal Financial Group Inc. owned about 0.63% of NAPCO Security Technologies worth $8,875,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Maseco LLP acquired a new position in shares of NAPCO Security Technologies during the 4th quarter valued at about $25,000. IFP Advisors Inc increased its position in NAPCO Security Technologies by 193.3% during the third quarter. IFP Advisors Inc now owns 572 shares of the industrial products company's stock worth $25,000 after purchasing an additional 377 shares during the last quarter. Advisory Services Network LLC purchased a new position in NAPCO Security Technologies during the third quarter worth about $41,000. Blue Trust Inc. purchased a new position in NAPCO Security Technologies during the first quarter worth about $44,000. Finally, Acadian Asset Management LLC purchased a new position in NAPCO Security Technologies during the first quarter worth about $91,000. Hedge funds and other institutional investors own 85.07% of the company's stock.

NAPCO Security Technologies Stock Performance

Shares of NASDAQ:NSSC opened at $35.74 on Monday. The company has a market capitalization of $1.28 billion, a price-to-earnings ratio of 34.37 and a beta of 1.44. NAPCO Security Technologies, Inc. has a 12-month low of $29.27 and a 12-month high of $48.12. The business has a 50-day moving average price of $36.67 and a 200 day moving average price of $40.22.

NAPCO Security Technologies (NASDAQ:NSSC - Get Free Report) last posted its earnings results on Monday, May 4th. The industrial products company reported $0.39 EPS for the quarter, beating analysts' consensus estimates of $0.35 by $0.04. The company had revenue of $49.17 million for the quarter, compared to analysts' expectations of $49.26 million. NAPCO Security Technologies had a net margin of 18.70% and a return on equity of 28.93%. NAPCO Security Technologies's revenue for the quarter was up 11.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.28 earnings per share. As a group, equities research analysts predict that NAPCO Security Technologies, Inc. will post 1.49 earnings per share for the current fiscal year.

NAPCO Security Technologies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 3rd. Stockholders of record on Friday, June 12th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend was Friday, June 12th. NAPCO Security Technologies's payout ratio is 57.69%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. DA Davidson reissued a "buy" rating and issued a $52.00 price target on shares of NAPCO Security Technologies in a research note on Tuesday, May 5th. Wall Street Zen lowered shares of NAPCO Security Technologies from a "buy" rating to a "hold" rating in a research report on Saturday, July 4th. TD Cowen reiterated a "buy" rating and issued a $53.00 price objective (up from $50.00) on shares of NAPCO Security Technologies in a report on Tuesday, May 5th. Finally, Weiss Ratings cut NAPCO Security Technologies from a "hold (c+)" rating to a "hold (c)" rating in a report on Monday, May 11th. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $48.67.

NAPCO Security Technologies Company Profile

NAPCO Security Technologies, Inc NASDAQ: NSSC is a designer and manufacturer of electronic security solutions for commercial and residential applications. The company's product portfolio spans intrusion and fire alarm control panels, alarm communicators, access control locks and readers, as well as a broad range of peripheral modules and integrated security accessories. NAPCO's offerings are engineered to deliver scalable, networked security systems suitable for new installations and retrofit projects alike.

Key product lines include hybrid alarm control panels that support both wired and wireless peripherals, cellular and IP alarm communicators for reliable central station reporting, and the acclaimed “Alarm Lock” series of standalone and networked electronic door locks.

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