Granite Investment Partners LLC Decreases Stake in Napco Security Technologies, Inc. (NASDAQ:NSSC)

Granite Investment Partners LLC decreased its holdings in shares of Napco Security Technologies, Inc. (NASDAQ:NSSC) by 10.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 593,137 shares of the industrial products company’s stock after selling 72,283 shares during the quarter. Napco Security Technologies makes up approximately 1.3% of Granite Investment Partners LLC’s portfolio, making the stock its 15th biggest position. Granite Investment Partners LLC owned approximately 1.61% of Napco Security Technologies worth $30,813,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in NSSC. Vaughan Nelson Investment Management L.P. purchased a new stake in Napco Security Technologies during the second quarter worth approximately $31,504,000. Wellington Management Group LLP lifted its stake in Napco Security Technologies by 168.9% during the fourth 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 last quarter. F M Investments LLC purchased a new stake in Napco Security Technologies during the second quarter worth approximately $15,109,000. Emerald Advisers LLC lifted its stake in Napco Security Technologies by 118.3% during the second quarter. Emerald Advisers LLC now owns 488,583 shares of the industrial products company’s stock worth $25,382,000 after purchasing an additional 264,789 shares during the last quarter. Finally, Emerald Mutual Fund Advisers Trust lifted its stake in Napco Security Technologies by 170.8% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 399,936 shares of the industrial products company’s stock valued at $20,777,000 after buying an additional 252,252 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Napco Security Technologies Stock Performance

NSSC opened at $40.47 on Friday. The business’s fifty day moving average is $49.34 and its two-hundred day moving average is $46.82. The company has a market cap of $1.49 billion, a price-to-earnings ratio of 32.12 and a beta of 1.64. Napco Security Technologies, Inc. has a one year low of $17.76 and a one year high of $58.09.

Napco Security Technologies (NASDAQ:NSSC) last posted its earnings results on Monday, August 26th. The industrial products company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. The company had revenue of $50.33 million for the quarter, compared to the consensus estimate of $50.18 million. Napco Security Technologies had a return on equity of 30.51% and a net margin of 26.38%. During the same period in the previous year, the business earned $0.28 earnings per share. On average, analysts predict that Napco Security Technologies, Inc. will post 1.85 EPS for the current fiscal year.

Napco Security Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th will be given a $0.125 dividend. This is an increase from Napco Security Technologies’s previous quarterly dividend of $0.10. This represents a $0.50 annualized dividend and a dividend yield of 1.24%. The ex-dividend date is Thursday, September 12th. Napco Security Technologies’s dividend payout ratio is currently 39.68%.

Insider Activity

In other news, Director Paul Stephen Beeber sold 708 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $37.12, for a total value of $26,280.96. Following the sale, the director now directly owns 2,681 shares in the company, valued at $99,518.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 11.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on NSSC. Needham & Company LLC boosted their price objective on Napco Security Technologies from $52.00 to $57.00 and gave the company a “buy” rating in a research note on Tuesday, August 27th. TD Cowen initiated coverage on Napco Security Technologies in a report on Tuesday, May 28th. They issued a “buy” rating and a $60.00 target price on the stock. Lake Street Capital reissued a “buy” rating and issued a $60.00 target price on shares of Napco Security Technologies in a report on Tuesday. Craig Hallum reissued a “buy” rating and issued a $65.00 target price (up previously from $50.00) on shares of Napco Security Technologies in a report on Friday, May 24th. Finally, DA Davidson boosted their target price on Napco Security Technologies from $53.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, August 27th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $55.29.

Napco Security Technologies Profile

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.