Wellington Management Group LLP Grows Holdings in NAPCO Security Technologies, Inc. $NSSC

Key Points

• Wellington Management increased its NAPCO Security Technologies stake by 18.6% to 1.10 million shares, while institutional investors and hedge funds collectively own 85.07% of NSSC.
• NAPCO reported quarterly earnings of $0.50 per share, exceeding estimates of $0.39, with revenue rising 10.1% year over year to $55.81 million. The company also raised its quarterly dividend from $0.15 to $0.17 per share.
• Analysts maintain a generally positive outlook, with six Buy ratings and two Hold ratings, a “Moderate Buy” consensus, and an average price target of $50.40. However, company insiders sold roughly 524,000 shares worth $18.3 million over the past 90 days.

Wellington Management Group LLP boosted its position in NAPCO Security Technologies, Inc. (NASDAQ:NSSC - Free Report) by 18.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,102,280 shares of the industrial products company's stock after buying an additional 172,681 shares during the quarter. Wellington Management Group LLP owned 3.09% of NAPCO Security Technologies worth $41,865,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. BlackRock Inc. acquired a new position in shares of NAPCO Security Technologies in the second quarter worth about $213,928,000. Jupiter Topco LLC purchased a new position in NAPCO Security Technologies in the second quarter valued at about $63,855,000. Arrowstreet Capital Limited Partnership grew its stake in NAPCO Security Technologies by 668.4% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 861,141 shares of the industrial products company's stock valued at $36,986,000 after purchasing an additional 749,065 shares in the last quarter. Copeland Capital Management LLC grew its stake in NAPCO Security Technologies by 41.4% during the 1st quarter. Copeland Capital Management LLC now owns 2,009,089 shares of the industrial products company's stock valued at $79,138,000 after purchasing an additional 588,297 shares in the last quarter. Finally, First Trust Advisors LP purchased a new stake in NAPCO Security Technologies during the 3rd quarter worth approximately $24,305,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently commented on NSSC shares. Wall Street Zen cut NAPCO Security Technologies from a "buy" rating to a "hold" rating in a research note on Saturday, July 4th. DA Davidson set a $52.00 target price on shares of NAPCO Security Technologies in a research report on Tuesday, August 25th. Needham & Company LLC reissued a "buy" rating and issued a $49.00 target price on shares of NAPCO Security Technologies in a research report on Friday, August 21st. Benchmark restated a "buy" rating on shares of NAPCO Security Technologies in a research note on Tuesday, August 25th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of NAPCO Security Technologies in a research report on Friday, August 7th. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $50.40.

NAPCO Security Technologies Price Performance

Shares of NSSC opened at $37.05 on Friday. The business's fifty day moving average price is $37.33 and its 200 day moving average price is $39.59. NAPCO Security Technologies, Inc. has a 12-month low of $33.91 and a 12-month high of $51.77. The stock has a market capitalization of $1.33 billion, a PE ratio of 30.62 and a beta of 1.43.

NAPCO Security Technologies (NASDAQ:NSSC - Get Free Report) last released its earnings results on Monday, August 24th. The industrial products company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.11. NAPCO Security Technologies had a net margin of 21.27% and a return on equity of 31.41%. The firm had revenue of $55.81 million during the quarter, compared to analyst estimates of $52.51 million. During the same quarter in the previous year, the firm earned $0.33 earnings per share. The firm's revenue for the quarter was up 10.1% compared to the same quarter last year. As a group, research analysts anticipate that NAPCO Security Technologies, Inc. will post 1.66 earnings per share for the current fiscal year.

NAPCO Security Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Friday, September 11th will be issued a $0.17 dividend. This is a boost from NAPCO Security Technologies's previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Friday, September 11th. This represents a $0.68 annualized dividend and a dividend yield of 1.8%. NAPCO Security Technologies's dividend payout ratio (DPR) is presently 49.59%.

Insider Activity

In related news, Chairman Richard Soloway sold 379,529 shares of the business's stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $34.50, for a total transaction of $13,093,750.50. Following the completion of the sale, the chairman owned 621,958 shares of the company's stock, valued at $21,457,551. This represents a 37.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Donna Soloway sold 28,000 shares of the stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $35.98, for a total transaction of $1,007,440.00. Following the sale, the director owned 20,962 shares in the company, valued at approximately $754,212.76. This trade represents a 57.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 523,962 shares of company stock valued at $18,257,168 over the last ninety days. Company insiders own 5.65% of the company's stock.

NAPCO Security Technologies 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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