National Presto Industries (NYSE:NPK) Sees Large Volume Increase - Should You Buy?

Key Points

• Analyst sentiment improved: Weiss Ratings and Wall Street Zen both upgraded National Presto Industries from “Hold” to “Buy,” giving the stock an overall “Buy” consensus rating.
• Recent financial performance was solid: The company reported quarterly EPS of $2.21 on revenue of $146.6 million, with a 7.86% net margin and 10.83% return on equity.
• Institutional ownership is substantial: Major investors including BlackRock, Vanguard and State Street increased or initiated positions, while institutions and hedge funds collectively own 58.57% of the shares.

National Presto Industries, Inc. (NYSE:NPK - Get Free Report) saw strong trading volume on Wednesday . 60,840 shares traded hands during mid-day trading, a decline of 38% from the previous session's volume of 98,541 shares.The stock last traded at $146.6060 and had previously closed at $146.94.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Weiss Ratings raised shares of National Presto Industries from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, August 25th. Wall Street Zen raised National Presto Industries from a "hold" rating to a "buy" rating in a report on Saturday, August 22nd. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of "Buy".

National Presto Industries Stock Performance

The company has a market capitalization of $1.05 billion, a PE ratio of 24.48 and a beta of 0.47. The firm's 50-day simple moving average is $132.77 and its 200 day simple moving average is $134.32.

National Presto Industries (NYSE:NPK - Get Free Report) last announced its quarterly earnings results on Friday, August 14th. The conglomerate reported $2.21 earnings per share (EPS) for the quarter. The business had revenue of $146.60 million during the quarter. National Presto Industries had a net margin of 7.86% and a return on equity of 10.83%.

Institutional Investors Weigh In On National Presto Industries

Hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. purchased a new stake in shares of National Presto Industries during the 2nd quarter worth approximately $122,206,000. California State Teachers Retirement System raised its holdings in National Presto Industries by 13,506.3% during the second quarter. California State Teachers Retirement System now owns 661,947 shares of the conglomerate's stock worth $82,737,000 after purchasing an additional 657,082 shares during the last quarter. Vanguard Group Inc. raised its holdings in National Presto Industries by 3.3% during the third quarter. Vanguard Group Inc. now owns 373,845 shares of the conglomerate's stock worth $41,927,000 after purchasing an additional 11,769 shares during the last quarter. State Street Corp boosted its position in National Presto Industries by 7.0% during the fourth quarter. State Street Corp now owns 348,255 shares of the conglomerate's stock worth $37,180,000 after purchasing an additional 22,745 shares in the last quarter. Finally, Medina Value Partners LLC boosted its position in National Presto Industries by 1.6% during the fourth quarter. Medina Value Partners LLC now owns 212,246 shares of the conglomerate's stock worth $22,659,000 after purchasing an additional 3,360 shares in the last quarter. 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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