NAPCO Security Technologies (NASDAQ:NSSC) Chairman Richard Soloway Sells 379,529 Shares

Key Points

• Chairman Richard Soloway sold 379,529 NAPCO shares at an average price of $34.50, generating approximately $13.1 million and reducing his position by 37.9%. He also sold 95,471 shares the previous day.
• NAPCO reported quarterly results above expectations, with earnings per share of $0.50 versus a $0.39 consensus estimate and revenue of $55.81 million, up 10.1% year over year.
• The company raised its quarterly dividend to $0.17 from $0.15, implying an annualized dividend of $0.68 and a 2.0% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $50.40, compared with a recent share price of $34.67.

NAPCO Security Technologies, Inc. (NASDAQ:NSSC - Get Free Report) Chairman Richard Soloway sold 379,529 shares of the firm's stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $34.50, for a total value of $13,093,750.50. Following the transaction, the chairman owned 621,958 shares of the company's stock, valued at approximately $21,457,551. The trade was a 37.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Richard Soloway also recently made the following trade(s):

• On Wednesday, August 26th, Richard Soloway sold 95,471 shares of NAPCO Security Technologies stock. The stock was sold at an average price of $35.93, for a total transaction of $3,430,273.03.

NAPCO Security Technologies Price Performance

Shares of NAPCO Security Technologies stock traded down $0.61 on Friday, reaching $34.67. The company had a trading volume of 67,266 shares, compared to its average volume of 493,901. NAPCO Security Technologies, Inc. has a 1 year low of $33.91 and a 1 year high of $51.77. The firm has a market cap of $1.24 billion, a price-to-earnings ratio of 28.65 and a beta of 1.45. The firm's 50-day moving average price is $37.49 and its two-hundred day moving average price is $39.85.

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

NAPCO Security Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders 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. This represents a $0.68 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Friday, September 11th. NAPCO Security Technologies's dividend payout ratio is presently 56.20%.

Analyst Upgrades and Downgrades

NSSC has been the topic of a number of research reports. Wall Street Zen lowered shares of NAPCO Security Technologies from a "buy" rating to a "hold" rating in a research note on Saturday, July 4th. Needham & Company LLC reaffirmed a "buy" rating and set a $49.00 target price on shares of NAPCO Security Technologies in a research note on Friday, August 21st. Weiss Ratings reissued a "hold (c)" rating on shares of NAPCO Security Technologies in a research note on Friday, August 7th. TD Cowen reaffirmed a "buy" rating and set a $53.00 target price (up from $50.00) on shares of NAPCO Security Technologies in a research note on Tuesday, May 5th. Finally, DA Davidson set a $52.00 target price on shares of NAPCO Security Technologies in a report on Tuesday. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $50.40.

Hedge Funds Weigh In On NAPCO Security Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. IFP Advisors Inc grew its holdings in NAPCO Security Technologies by 193.3% during the 3rd quarter. IFP Advisors Inc now owns 572 shares of the industrial products company's stock worth $25,000 after acquiring an additional 377 shares in the last quarter. ProShare Advisors LLC lifted its stake in NAPCO Security Technologies by 6.9% during the fourth quarter. ProShare Advisors LLC now owns 6,313 shares of the industrial products company's stock worth $263,000 after purchasing an additional 407 shares during the last quarter. Legal & General Group Plc lifted its stake in NAPCO Security Technologies by 1.0% during the third quarter. Legal & General Group Plc now owns 43,937 shares of the industrial products company's stock worth $1,887,000 after purchasing an additional 430 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in NAPCO Security Technologies by 1.3% in the third quarter. Alliancebernstein L.P. now owns 36,826 shares of the industrial products company's stock valued at $1,582,000 after purchasing an additional 474 shares in the last quarter. Finally, Quantinno Capital Management LP boosted its holdings in NAPCO Security Technologies by 3.2% in the first quarter. Quantinno Capital Management LP now owns 19,464 shares of the industrial products company's stock valued at $767,000 after purchasing an additional 596 shares in the last quarter. Hedge funds and other institutional investors own 85.07% of the company's stock.

About NAPCO Security Technologies

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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