NAPCO Security Technologies (NASDAQ:NSSC) Chairman Richard Soloway Sells 379,529 Shares

NAPCO Security Technologies, Inc. (NASDAQ:NSSC) Chairman Richard Soloway sold 379,529 shares of the business’s stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $34.50, for a total transaction of $13,093,750.50. Following the completion of the sale, the chairman directly owned 621,958 shares of the company’s stock, valued at approximately $21,457,551. This trade represents a 37.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Richard Soloway also recently made the following trade(s):

• On Wednesday, August 26th, Richard Soloway sold 95,471 shares of NAPCO Security Technologies stock. The stock was sold at an average price of $35.93, for a total value of $3,430,273.03.

NAPCO Security Technologies Price Performance

Shares of NSSC traded down $0.61 during midday trading on Friday, reaching $34.67. 67,266 shares of the stock were exchanged, compared to its average volume of 493,901. NAPCO Security Technologies, Inc. has a twelve month low of $33.91 and a twelve month high of $51.77. The company has a market capitalization of $1.24 billion, a price-to-earnings ratio of 28.65 and a beta of 1.45. The business’s 50-day moving average price is $37.49 and its 200 day moving average price is $39.85.

NAPCO Security Technologies (NASDAQ:NSSC) last announced its earnings results on Monday, August 24th. The industrial products company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.11. The firm had revenue of $55.81 million during the quarter, compared to analysts’ expectations of $52.51 million. NAPCO Security Technologies had a return on equity of 31.41% and a net margin of 21.27%.The business’s revenue was up 10.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.33 EPS. As a group, equities research analysts expect that NAPCO Security Technologies, Inc. will post 1.66 earnings per share for the current fiscal year.

NAPCO Security Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Friday, September 11th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.0%. This is a boost from NAPCO Security Technologies’s previous quarterly dividend of $0.15. The ex-dividend date is Friday, September 11th. NAPCO Security Technologies’s payout ratio is 56.20%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Corient Private Wealth LP lifted its position in NAPCO Security Technologies by 326.5% in the second quarter. Corient Private Wealth LP now owns 48,576 shares of the industrial products company’s stock valued at $1,845,000 after purchasing an additional 37,186 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of NAPCO Security Technologies in the 2nd quarter valued at approximately $1,555,000. California State Teachers Retirement System boosted its stake in shares of NAPCO Security Technologies by 2,978.8% in the second quarter. California State Teachers Retirement System now owns 1,493,108 shares of the industrial products company’s stock valued at $56,708,000 after buying an additional 1,444,612 shares in the last quarter. SkyOak Wealth LLC boosted its stake in shares of NAPCO Security Technologies by 14.2% in the second quarter. SkyOak Wealth LLC now owns 7,036 shares of the industrial products company’s stock valued at $267,000 after buying an additional 874 shares in the last quarter. Finally, Fundsmith LLP grew its holdings in NAPCO Security Technologies by 58.2% during the second quarter. Fundsmith LLP now owns 606,974 shares of the industrial products company’s stock worth $23,053,000 after acquiring an additional 223,378 shares during the period. 85.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on NSSC. Wall Street Zen cut shares of NAPCO Security Technologies from a “buy” rating to a “hold” rating in a report on Saturday, July 4th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of NAPCO Security Technologies in a report on Friday, August 7th. Benchmark reissued a “buy” rating on shares of NAPCO Security Technologies in a report on Tuesday. TD Cowen restated a “buy” rating and issued a $53.00 price target (up from $50.00) on shares of NAPCO Security Technologies in a research report on Tuesday, May 5th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $49.00 price objective on shares of NAPCO Security Technologies in a research report on Friday, August 21st. Six analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, NAPCO Security Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $50.40.

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.