National Presto Industries (NYSE:NPK) Sees Strong Trading Volume - Still a Buy?

Key Points

• National Presto Industries shares rose sharply to $133.59 from a prior close of $121.42, despite trading volume falling 26% to about 72,687 shares.
• Wall Street’s consensus remains “Buy,” although Weiss Ratings recently downgraded the stock slightly from “buy (b)” to “buy (b-).”
• The company reported quarterly revenue of $118.65 million and earnings of $0.93 per share; institutional investors and hedge funds own 58.57% of outstanding shares.

National Presto Industries, Inc. (NYSE:NPK - Get Free Report) shares saw an uptick in trading volume on Monday . Approximately 72,687 shares traded hands during mid-day trading, a decline of 26% from the previous session's volume of 98,499 shares.The stock last traded at $133.5860 and had previously closed at $121.42.

Wall Street Analysts Forecast Growth

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

National Presto Industries Price Performance

The firm has a 50-day moving average of $126.17 and a 200 day moving average of $131.19. The stock has a market capitalization of $970.06 million, a price-to-earnings ratio of 30.08 and a beta of 0.42.

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

Hedge Funds Weigh In On National Presto Industries

A number of institutional investors have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC lifted its stake in National Presto Industries by 19.8% in the fourth quarter. Nisa Investment Advisors LLC now owns 594 shares of the conglomerate's stock valued at $63,000 after acquiring an additional 98 shares during the last quarter. New York State Teachers Retirement System raised its holdings in shares of National Presto Industries by 1.3% in the 4th quarter. New York State Teachers Retirement System now owns 7,554 shares of the conglomerate's stock valued at $806,000 after purchasing an additional 100 shares during the period. Nebula Research & Development LLC lifted its stake in National Presto Industries by 4.1% in the 2nd quarter. Nebula Research & Development LLC now owns 3,778 shares of the conglomerate's stock valued at $370,000 after purchasing an additional 150 shares during the last quarter. Pullen Investment Management LLC lifted its stake in National Presto Industries by 1.4% in the 1st quarter. Pullen Investment Management LLC now owns 15,230 shares of the conglomerate's stock valued at $2,087,000 after purchasing an additional 203 shares during the last quarter. Finally, Martingale Asset Management L P grew its holdings in National Presto Industries by 2.7% during the fourth quarter. Martingale Asset Management L P now owns 9,046 shares of the conglomerate's stock worth $966,000 after purchasing an additional 241 shares during the period. 58.57% of the stock is currently owned by institutional investors and hedge funds.

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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