Napco Security Technologies (NASDAQ:NSSC) Shares Gap Up on Better-Than-Expected Earnings

Shares of Napco Security Technologies, Inc. (NASDAQ:NSSC - Get Free Report) gapped up before the market opened on Monday following a stronger than expected earnings report. The stock had previously closed at $23.78, but opened at $26.56. Napco Security Technologies shares last traded at $25.35, with a volume of 279,027 shares trading hands.

The industrial products company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.01. Napco Security Technologies had a return on equity of 27.65% and a net margin of 25.94%. The firm had revenue of $43.96 million during the quarter, compared to the consensus estimate of $45.11 million. During the same period last year, the company earned $0.37 earnings per share. The company's revenue was down 10.8% on a year-over-year basis.

Napco Security Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Thursday, June 12th will be paid a $0.14 dividend. The ex-dividend date of this dividend is Thursday, June 12th. This is a positive change from Napco Security Technologies's previous quarterly dividend of $0.13. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.25%. Napco Security Technologies's payout ratio is currently 38.46%.

Analyst Ratings Changes

NSSC has been the topic of a number of research reports. Cowen downgraded shares of Napco Security Technologies from a "buy" rating to a "hold" rating in a report on Tuesday, February 4th. Needham & Company LLC cut their price objective on Napco Security Technologies from $37.00 to $32.00 and set a "buy" rating for the company in a research report on Tuesday. TD Cowen downgraded shares of Napco Security Technologies from a "buy" rating to a "hold" rating and decreased their price target for the company from $46.00 to $27.00 in a research note on Tuesday, February 4th. Lake Street Capital set a $26.00 target price on Napco Security Technologies in a research report on Monday. Finally, Craig Hallum cut Napco Security Technologies from a "buy" rating to a "hold" rating and set a $28.00 target price on the stock. in a research note on Tuesday, February 4th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, Napco Security Technologies currently has a consensus rating of "Hold" and a consensus price target of $34.33.

Institutional Investors Weigh In On Napco Security Technologies

Several large investors have recently modified their holdings of NSSC. Corient Private Wealth LLC grew its stake in Napco Security Technologies by 102.4% in the fourth quarter. Corient Private Wealth LLC now owns 18,104 shares of the industrial products company's stock valued at $644,000 after purchasing an additional 768,629 shares during the last quarter. Point72 Asset Management L.P. raised its stake in Napco Security Technologies by 1,221.7% in the 4th quarter. Point72 Asset Management L.P. now owns 638,173 shares of the industrial products company's stock worth $22,693,000 after acquiring an additional 589,888 shares during the last quarter. Copeland Capital Management LLC lifted its holdings in shares of Napco Security Technologies by 25.1% during the first quarter. Copeland Capital Management LLC now owns 1,493,928 shares of the industrial products company's stock worth $34,390,000 after purchasing an additional 299,305 shares during the period. Wellington Management Group LLP purchased a new stake in shares of Napco Security Technologies in the 4th quarter valued at $10,427,000. Finally, JPMorgan Chase & Co. grew its position in Napco Security Technologies by 318.6% during the 4th quarter. JPMorgan Chase & Co. now owns 283,812 shares of the industrial products company's stock worth $10,092,000 after purchasing an additional 216,017 shares during the period. Institutional investors own 85.07% of the company's stock.

Napco Security Technologies Stock Up 0.8 %

The firm has a 50-day moving average of $23.09 and a two-hundred day moving average of $30.68. The company has a market capitalization of $907.11 million, a PE ratio of 19.17 and a beta of 1.41.

About Napco Security Technologies

Napco Security Technologies, Inc develops, manufactures, and sells electronic security systems for commercial, residential, institutional, industrial, and governmental applications in the United States and internationally. Its access control systems include various types of identification readers, control panels, PC-based computers, and electronically activated door-locking devices; intrusion and fire alarm systems, consists of various detectors, a control panel, a digital keypad and signaling equipment; and door locking devices comprise microprocessor-based electronic door locks with push button, card readers and bio-metric operation, door alarms, mechanical door locks, and simple dead bolt locks.