NPK International (NYSE:NPKI) Hits New 52-Week Low Following Weak Earnings

Key Points

• NPK International shares fell 9.6% to a new 52-week low of $8.24 after the company reported quarterly earnings of $0.09 per share, missing analysts’ $0.12 estimate. Quarterly revenue totaled $76.28 million.
• Analyst sentiment remains moderately positive, with a consensus “Moderate Buy” rating and an $18.00 target price, though Weiss Ratings reaffirmed a “Hold (C)” rating.
• Insiders sold 15,004 shares worth approximately $203,715 over the past three months, while institutional investors own 80.81% of the company.

NPK International Inc. (NYSE:NPKI - Get Free Report) reached a new 52-week low on Friday after the company announced weaker than expected quarterly earnings. The stock traded as low as $8.24 and last traded at $9.5220, with a volume of 489,361 shares. The stock had previously closed at $11.20.

The company reported $0.09 earnings per share for the quarter, missing analysts' consensus estimates of $0.12 by ($0.03). NPK International had a net margin of 14.19% and a return on equity of 11.31%. The business had revenue of $76.28 million for the quarter.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a "hold (c)" rating on shares of NPK International in a research note on Friday, September 25th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, NPK International currently has a consensus rating of "Moderate Buy" and a consensus target price of $18.00.

Insiders Place Their Bets

In other news, Director Rose Robeson sold 10,000 shares of the company's stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $13.49, for a total value of $134,900.00. Following the transaction, the director owned 215,147 shares of the company's stock, valued at approximately $2,902,333.03. This represents a 4.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael Lewis sold 2,013 shares of the stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $14.26, for a total value of $28,705.38. Following the sale, the director directly owned 135,865 shares in the company, valued at $1,937,434.90. This represents a 1.46% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 15,004 shares of company stock valued at $203,715. 4.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Sterling Capital Management LLC boosted its position in shares of NPK International by 842.3% during the 3rd quarter. Sterling Capital Management LLC now owns 2,742 shares of the company's stock worth $31,000 after purchasing an additional 2,451 shares in the last quarter. Fifth Third Bancorp purchased a new stake in NPK International in the 1st quarter worth about $73,000. Entropy Technologies LP purchased a new stake in shares of NPK International during the 1st quarter valued at approximately $151,000. MQS Management LLC grew its stake in NPK International by 16.4% in the 1st quarter. MQS Management LLC now owns 13,938 shares of the company's stock valued at $202,000 after buying an additional 1,967 shares in the last quarter. Finally, SkyView Investment Advisors LLC purchased a new position in NPK International in the 2nd quarter valued at approximately $239,000. Institutional investors own 80.81% of the company's stock.

NPK International Trading Down 9.6%

The stock has a market cap of $860.14 million, a PE ratio of 20.09 and a beta of 1.46. The firm has a 50-day simple moving average of $12.15 and a 200-day simple moving average of $13.86. The company has a quick ratio of 1.40, a current ratio of 1.61 and a debt-to-equity ratio of 0.01.

About NPK International

NPK International is an industrial equipment company focused on attachments and related systems used with excavators and other heavy construction machinery. Through its operating businesses, the company designs, manufactures and distributes equipment for construction, demolition, recycling, mining, utility and material-handling applications.

Its product portfolio includes hydraulic breakers and hammers, concrete crushers and pulverizers, demolition shears, grapples, compactors, augers and other specialized attachments.

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