Napco Security Technologies (NASDAQ:NSSC) Hits New 1-Year High Following Strong Earnings

Napco Security Technologies, Inc. (NASDAQ:NSSC)’s share price reached a new 52-week high during mid-day trading on Monday after the company announced better than expected quarterly earnings. The stock traded as high as $46.50 and last traded at $46.50, with a volume of 2233 shares traded. The stock had previously closed at $42.47.

The industrial products company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.03. Napco Security Technologies had a return on equity of 30.81% and a net margin of 25.08%. The company had revenue of $49.30 million during the quarter, compared to analysts’ expectations of $48.16 million. During the same period last year, the firm earned $0.29 EPS. The firm’s revenue for the quarter was up 13.3% on a year-over-year basis.

Napco Security Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 24th. Investors of record on Monday, June 3rd will be given a $0.10 dividend. The ex-dividend date is Monday, June 3rd. This represents a $0.40 dividend on an annualized basis and a yield of 0.87%. Napco Security Technologies’s dividend payout ratio (DPR) is 33.61%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on NSSC. StockNews.com cut shares of Napco Security Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, February 13th. DA Davidson started coverage on shares of Napco Security Technologies in a research report on Friday, April 26th. They issued a “buy” rating and a $52.00 price objective for the company. B. Riley lifted their price objective on Napco Security Technologies from $36.00 to $45.00 and gave the company a “neutral” rating in a report on Tuesday. Imperial Capital downgraded Napco Security Technologies from an “outperform” rating to an “in-line” rating and set a $45.00 target price for the company. in a research note on Tuesday, February 6th. Finally, Needham & Company LLC lifted their price target on Napco Security Technologies from $46.00 to $52.00 and gave the company a “buy” rating in a research note on Tuesday. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Napco Security Technologies currently has a consensus rating of “Hold” and an average target price of $41.83.

Insider Buying and Selling

In other news, CEO Richard Soloway sold 28,000 shares of the firm’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $45.12, for a total value of $1,263,360.00. Following the completion of the transaction, the chief executive officer now owns 3,706,010 shares in the company, valued at $167,215,171.20. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Napco Security Technologies news, SVP Michael Carrieri sold 5,200 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $45.92, for a total transaction of $238,784.00. Following the sale, the senior vice president now owns 14,232 shares in the company, valued at approximately $653,533.44. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Richard Soloway sold 28,000 shares of the business’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $45.12, for a total value of $1,263,360.00. Following the completion of the transaction, the chief executive officer now directly owns 3,706,010 shares of the company’s stock, valued at $167,215,171.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 93,200 shares of company stock valued at $3,987,644. 11.54% of the stock is owned by insiders.

Institutional Trading of Napco Security Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in shares of Napco Security Technologies by 5.3% during the 3rd quarter. Vanguard Group Inc. now owns 2,399,096 shares of the industrial products company’s stock worth $53,380,000 after purchasing an additional 120,842 shares during the last quarter. FMR LLC grew its stake in Napco Security Technologies by 29.0% in the 3rd quarter. FMR LLC now owns 1,577,159 shares of the industrial products company’s stock worth $35,092,000 after acquiring an additional 354,579 shares during the period. GW&K Investment Management LLC raised its holdings in Napco Security Technologies by 3.6% in the 4th quarter. GW&K Investment Management LLC now owns 1,149,474 shares of the industrial products company’s stock valued at $39,369,000 after acquiring an additional 40,166 shares during the last quarter. abrdn plc raised its holdings in Napco Security Technologies by 49.3% in the 4th quarter. abrdn plc now owns 883,726 shares of the industrial products company’s stock valued at $30,268,000 after acquiring an additional 291,920 shares during the last quarter. Finally, Wellington Management Group LLP lifted its stake in shares of Napco Security Technologies by 168.9% during the 4th quarter. Wellington Management Group LLP now owns 691,148 shares of the industrial products company’s stock worth $23,672,000 after purchasing an additional 434,164 shares during the period. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Napco Security Technologies Stock Up 1.0 %

The firm has a market cap of $1.68 billion, a price-to-earnings ratio of 38.44 and a beta of 1.51. The firm has a fifty day moving average price of $41.02 and a 200-day moving average price of $35.73.

About Napco Security Technologies

Napco Security Technologies, Inc develops, manufactures, and sells electronic security products in the United States and internationally. The company offers access control systems, door-locking products, intrusion and fire alarm systems, and video surveillance systems for commercial, residential, institutional, industrial, and governmental applications.