NAPCO Security Technologies, Inc. (NASDAQ:NSSC) Short Interest Update

NAPCO Security Technologies, Inc. (NASDAQ:NSSC) was the target of a significant increase in short interest in March. As of March 13th, there was short interest totaling 4,664,025 shares, an increase of 54.1% from the February 26th total of 3,027,521 shares. Approximately 13.9% of the company’s shares are sold short. Based on an average trading volume of 1,329,309 shares, the short-interest ratio is presently 3.5 days.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on NSSC. Needham & Company LLC reaffirmed a “buy” rating and set a $49.00 target price (up from $47.00) on shares of NAPCO Security Technologies in a research note on Monday, February 2nd. DA Davidson restated a “buy” rating and issued a $50.00 price objective on shares of NAPCO Security Technologies in a report on Tuesday, February 3rd. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of NAPCO Security Technologies in a research report on Wednesday, January 28th. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $47.83.

NAPCO Security Technologies Stock Down 1.6%

NAPCO Security Technologies stock opened at $38.31 on Friday. NAPCO Security Technologies has a twelve month low of $19.00 and a twelve month high of $48.12. The company has a market capitalization of $1.37 billion, a P/E ratio of 28.80 and a beta of 1.45. The stock’s 50 day moving average is $42.30 and its 200 day moving average is $42.08.

NAPCO Security Technologies (NASDAQ:NSSC) last announced its quarterly earnings data on Monday, February 2nd. The industrial products company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.05. NAPCO Security Technologies had a return on equity of 27.45% and a net margin of 24.70%.The business had revenue of $48.17 million during the quarter, compared to analysts’ expectations of $47.82 million. During the same quarter in the previous year, the business earned $0.28 earnings per share. The firm’s quarterly revenue was up 12.4% compared to the same quarter last year. As a group, equities analysts expect that NAPCO Security Technologies will post 1.24 EPS for the current year.

NAPCO Security Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 3rd. Stockholders of record on Thursday, March 12th will be given a $0.15 dividend. The ex-dividend date of this dividend is Thursday, March 12th. This represents a $0.60 annualized dividend and a dividend yield of 1.6%. This is a boost from NAPCO Security Technologies’s previous quarterly dividend of $0.14. NAPCO Security Technologies’s payout ratio is presently 45.11%.

Insiders Place Their Bets

In other NAPCO Security Technologies news, CEO Richard Soloway sold 129,682 shares of the company’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $44.99, for a total value of $5,834,393.18. Following the completion of the transaction, the chief executive officer directly owned 1,152,276 shares in the company, valued at approximately $51,840,897.24. This represents a 10.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.65% of the stock is currently owned by company insiders.

Institutional Trading of NAPCO Security Technologies

Institutional investors have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of NAPCO Security Technologies by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,899 shares of the industrial products company’s stock valued at $481,000 after acquiring an additional 885 shares in the last quarter. Millennium Management LLC boosted its stake in NAPCO Security Technologies by 62.4% during the 1st quarter. Millennium Management LLC now owns 769,789 shares of the industrial products company’s stock valued at $17,721,000 after purchasing an additional 295,755 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in NAPCO Security Technologies by 75.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 589,290 shares of the industrial products company’s stock valued at $13,565,000 after purchasing an additional 254,007 shares during the last quarter. Jane Street Group LLC increased its holdings in shares of NAPCO Security Technologies by 351.7% in the 1st quarter. Jane Street Group LLC now owns 98,221 shares of the industrial products company’s stock worth $2,261,000 after purchasing an additional 76,478 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new stake in shares of NAPCO Security Technologies in the 1st quarter worth $91,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

About NAPCO Security Technologies

NAPCO Security Technologies, Inc (NASDAQ: NSSC) is a designer and manufacturer of electronic security solutions for commercial and residential applications. The company’s product portfolio spans intrusion and fire alarm control panels, alarm communicators, access control locks and readers, as well as a broad range of peripheral modules and integrated security accessories. NAPCO’s offerings are engineered to deliver scalable, networked security systems suitable for new installations and retrofit projects alike.

Key product lines include hybrid alarm control panels that support both wired and wireless peripherals, cellular and IP alarm communicators for reliable central station reporting, and the acclaimed “Alarm Lock” series of standalone and networked electronic door locks.