Renaissance Technologies LLC Lowers Stock Holdings in National Presto Industries, Inc. $NPK

Key Points

• Renaissance Technologies reduced its National Presto Industries stake by 8.9% in the first quarter, selling 14,500 shares and retaining 148,300 shares worth approximately $20.3 million. Institutional investors collectively own 58.57% of NPK.
• Weiss Ratings downgraded NPK from “buy (b)” to “buy (b-),” although the stock retains an average “Buy” rating from the one analyst covering it.
• NPK shares opened at $121.84, below their 50-day and 200-day moving averages. The company recently reported quarterly EPS of $0.93 on revenue of $118.65 million, with a 6.19% net margin.

Renaissance Technologies LLC reduced its stake in National Presto Industries, Inc. (NYSE:NPK - Free Report) by 8.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 148,300 shares of the conglomerate's stock after selling 14,500 shares during the period. Renaissance Technologies LLC owned 2.07% of National Presto Industries worth $20,326,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of NPK. Royal Bank of Canada boosted its holdings in shares of National Presto Industries by 6.9% in the first quarter. Royal Bank of Canada now owns 6,400 shares of the conglomerate's stock valued at $563,000 after purchasing an additional 414 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in National Presto Industries by 48.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,652 shares of the conglomerate's stock worth $2,079,000 after purchasing an additional 7,721 shares during the period. Creative Planning raised its position in National Presto Industries by 11.5% during the 2nd quarter. Creative Planning now owns 2,676 shares of the conglomerate's stock valued at $262,000 after purchasing an additional 275 shares in the last quarter. Rhumbline Advisers raised its position in National Presto Industries by 2.7% during the 2nd quarter. Rhumbline Advisers now owns 15,203 shares of the conglomerate's stock valued at $1,489,000 after purchasing an additional 404 shares in the last quarter. Finally, American Century Companies Inc. lifted its holdings in shares of National Presto Industries by 11.5% in the 2nd quarter. American Century Companies Inc. now owns 13,668 shares of the conglomerate's stock worth $1,339,000 after buying an additional 1,413 shares during the period. 58.57% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded National Presto Industries from a "buy (b)" rating to a "buy (b-)" rating in a research report on Monday, May 18th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company presently has an average rating of "Buy".

National Presto Industries Stock Performance

Shares of NPK opened at $121.84 on Friday. The company has a 50 day moving average price of $126.37 and a 200-day moving average price of $131.17. National Presto Industries, Inc. has a fifty-two week low of $91.28 and a fifty-two week high of $149.85. The stock has a market capitalization of $873.63 million, a PE ratio of 27.14 and a beta of 0.41.

National Presto Industries (NYSE:NPK - Get Free Report) last issued its quarterly earnings data on Friday, May 15th. The conglomerate reported $0.93 earnings per share (EPS) for the quarter. The company had revenue of $118.65 million for the quarter. National Presto Industries had a net margin of 6.19% and a return on equity of 8.32%.

About National Presto Industries

National Presto Industries, Inc is an American diversified manufacturer headquartered in Eau Claire, Wisconsin. The company operates primarily through three business segments—Housewares/Small Appliances, Defense Products, and Safety—which together supply a range of consumer and industrial markets. Founded in 1905, National Presto Industries has built a reputation for durable, user-friendly products marketed under the Presto and National Presto brands.

In its Housewares/Small Appliances segment, National Presto offers a variety of kitchen products designed to simplify home cooking and meal preparation.

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