Wasatch Advisors LP Cuts Position in NPK International Inc. $NPKI

Key Points

• Wasatch Advisors reduced its NPK International stake by 3% in the second quarter, selling 87,428 shares and retaining 2.81 million shares worth about $44.7 million, or 3.33% of the company.
• Institutional ownership remains high at 80.81%, while several firms—including JPMorgan Chase, Legal & General, and Envestnet—initiated new positions during the quarter.
• NPK International beat quarterly earnings expectations with $0.15 EPS versus $0.13 projected on $81.58 million in revenue. Analysts maintain a “Moderate Buy” consensus with an average price target of $18, compared with the stock’s reported $13.84 price.

Wasatch Advisors LP trimmed its stake in NPK International Inc. (NYSE:NPKI - Free Report) by 3.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,811,593 shares of the company's stock after selling 87,428 shares during the period. Wasatch Advisors LP owned 3.33% of NPK International worth $44,732,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Envestnet Asset Management Inc. bought a new stake in NPK International during the second quarter valued at about $141,000. Creative Planning purchased a new stake in shares of NPK International during the second quarter valued at about $270,000. Cetera Investment Advisers purchased a new stake in shares of NPK International during the second quarter valued at about $191,000. JPMorgan Chase & Co. bought a new stake in shares of NPK International in the 2nd quarter valued at about $633,000. Finally, Legal & General Group Plc bought a new stake in shares of NPK International in the 2nd quarter valued at about $710,000. 80.81% of the stock is currently owned by hedge funds and other institutional investors.

NPK International Stock Performance

NPKI opened at $13.84 on Wednesday. The company has a market cap of $1.18 billion, a P/E ratio of 27.68 and a beta of 1.26. The company has a quick ratio of 1.40, a current ratio of 1.61 and a debt-to-equity ratio of 0.01. The firm's 50-day moving average price is $14.39 and its 200-day moving average price is $14.50. NPK International Inc. has a 52-week low of $9.45 and a 52-week high of $16.50.

NPK International (NYSE:NPKI - Get Free Report) last released its earnings results on Wednesday, July 29th. The company reported $0.15 EPS for the quarter, topping analysts' consensus estimates of $0.13 by $0.02. NPK International had a net margin of 14.19% and a return on equity of 11.31%. The company had revenue of $81.58 million during the quarter. As a group, equities analysts anticipate that NPK International Inc. will post 0.55 EPS for the current fiscal year.

Insider Transactions at NPK International

In related news, Director Michael A. Lewis sold 2,013 shares of the firm's stock in a transaction on Friday, May 15th. The stock was sold at an average price of $15.30, for a total value of $30,798.90. Following the completion of the transaction, the director owned 129,320 shares in the company, valued at $1,978,596. This trade represents a 1.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Lori Briggs sold 8,325 shares of NPK International stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $14.75, for a total value of $122,793.75. Following the sale, the vice president directly owned 247,165 shares of the company's stock, valued at approximately $3,645,683.75. This represents a 3.26% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 188,159 shares of company stock worth $2,721,117. Company insiders own 4.20% of the company's stock.

Analyst Ratings Changes

NPKI has been the subject of several recent analyst reports. B. Riley Financial reiterated a "buy" rating on shares of NPK International in a research note on Monday, May 4th. Weiss Ratings downgraded shares of NPK International from a "hold (c+)" rating to a "hold (c)" rating in a research note on Tuesday, June 30th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, NPK International has a consensus rating of "Moderate Buy" and an average target price of $18.00.

NPK International Company Profile

NPK International, Inc NYSE: NPKI is a specialty chemical distributor supplying a broad range of industrial and performance materials across diverse end-markets. Its product portfolio includes acetic acid and derivatives, alcohols, ketones, esters, glycol ethers, glycols, specialty solvents, select inorganic chemicals and crop-protection intermediates. These materials serve industries such as coatings, adhesives and sealants, oil and gas, personal care, pharmaceuticals, agrochemicals and water treatment.

The company places a strong emphasis on supply-chain security and technical service, maintaining warehousing, logistics support and laboratory capabilities at its regional distribution centers.

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