In the first quarter of this year, investment management firm Fmr LLC reduced its ownership in Napco Security Technologies, Inc. (NASDAQ:NSSC) by 25.6%. According to the company’s recent disclosure with the Securities and Exchange Commission, Fmr LLC sold 622,490 shares of Napco Security Technologies, bringing its stake down to 1,810,020 shares. At the end of the reporting period, these holdings had a value of $68,021,000 and accounted for approximately 4.93% of the industrial products company’s stock.
As part of its financial activities, Napco Security Technologies recently announced an upcoming quarterly dividend payment. Shareholders who were recorded as owners on Friday September 1st will receive a dividend payment worth $0.08 per share on Friday September 22nd. This represents an increase from the previous quarterly dividend of $0.06 per share paid by Napco Security Technologies. The ex-dividend date for this distribution is Thursday August 31st.
At an annualized basis, this new dividend amounts to $0.32 per share and offers a yield of 1.32%. With a payout ratio currently standing at 32.99%, Napco Security Technologies appears to be maintaining a sustainable distribution policy that rewards its shareholders.
Investors may find these developments noteworthy as they reflect changes in ownership and dividend policies that could influence market sentiment towards Napco Security Technologies’ stock moving forward.
Disclaimer: The information provided here is based on publicly available sources and should not be taken as financial advice or used for making investment decisions without conducting thorough research or consulting with a professional advisor.
Napco Security Technologies, Inc.
NSSC
Buy
Updated on: 07/09/2023
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Large Investors Show Optimism in Napco Security Technologies
Napco Security Technologies, Inc., a leading industrial products company, has recently caught the attention of several large investors. Arizona State Retirement System increased its stake in Napco Security Technologies by 3.8% in the fourth quarter, now owning 8,810 shares valued at $242,000. Similarly, Isthmus Partners LLC saw its holdings increase by 0.4% during the first quarter, owning 89,963 shares valued at $3,381,000. HighTower Advisors LLC also increased its position in Napco Security Technologies by 0.3% in the fourth quarter to own 130,187 shares valued at $3,576,000.
Furthermore, Ameritas Investment Partners Inc. and Jane Street Group LLC have also been active buyers of Napco Security Technologies’ shares. Ameritas Investment Partners Inc. raised its stake by 21% during the first quarter and now owns 2,529 shares worth $95,000. Jane Street Group LLC lifted its position by 4% during the fourth quarter and currently owns 11,926 shares valued at $328,000.
It is notable that institutional investors and hedge funds own approximately 87.65% of Napco Security Technologies’ stock.
Several equities analysts have weighed in on Napco Security Technologies’ stock as well. Needham & Company LLC upped their price objective from $30 to $32 and gave the stock a “buy” rating in a research report released on August 30th.
Meanwhile, B. Riley restated a “neutral” rating with a price target of $24 for Napco Security Technologies’ stock on the same day.
22nd Century Group has reiterated their rating on Napco Security Technologies’ stock while StockNews.com started coverage with a “hold” rating for the company.
In contrast to these positive ratings, William Blair downgraded Napco Security Technologies from an “outperform” rating to a “market perform” rating.
According to Bloomberg data, the consensus rating for Napco Security Technologies’ stock is currently “Hold” with a consensus target price of $30.60.
On Wednesday, Napco Security Technologies’ stock opened at $24.26. Over the past year, the stock has seen lows of $20.02 and highs of $41.25.
The market capitalization of Napco Security Technologies is now $892.04 million with a P/E ratio of 25.01 and a beta of 1.16.
Notably, the stock’s 50-day simple moving average is $33.15 and its 200-day simple moving average is $34.07.
Napco Security Technologies recently released its earnings results on August 29th, reporting earnings per share (EPS) of $0.28 for the quarter, meeting analysts’ consensus estimate.
The company had a return on equity of 27.82% and a net margin of 21.33%. Napco Security Technologies generated revenue of $44.66 million during the quarter, slightly below analysts’ expectations of $44.70 million.
For the current fiscal year, research analysts expect Napco Security Technologies to post an EPS of 1.
Overall, despite mixed ratings from analysts, recent investment activities suggest that large investors see potential in Napco Security Technologies and are optimistic about its future prospects.
