Richard Soloway Sells 95,471 Shares of NAPCO Security Technologies (NASDAQ:NSSC) Stock

NAPCO Security Technologies, Inc. (NASDAQ:NSSC) Chairman Richard Soloway sold 95,471 shares of NAPCO Security Technologies stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $35.93, for a total value of $3,430,273.03. Following the transaction, the chairman owned 1,001,487 shares in the company, valued at approximately $35,983,427.91. This represents a 8.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• On Thursday, August 27th, Richard Soloway sold 379,529 shares of NAPCO Security Technologies stock. The shares were sold at an average price of $34.50, for a total transaction of $13,093,750.50.

NAPCO Security Technologies Trading Up 0.2%

Shares of NSSC opened at $35.35 on Friday. NAPCO Security Technologies, Inc. has a 12-month low of $33.91 and a 12-month high of $51.77. The firm has a market capitalization of $1.26 billion, a P/E ratio of 29.21 and a beta of 1.45. The firm has a 50-day moving average price of $37.44 and a 200 day moving average price of $39.81.

NAPCO Security Technologies (NASDAQ:NSSC) last released its quarterly earnings data on Monday, August 24th. The industrial products company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.11. NAPCO Security Technologies had a return on equity of 31.41% and a net margin of 21.27%.The firm had revenue of $55.81 million for the quarter, compared to analysts’ expectations of $52.51 million. During the same period in the prior year, the firm posted $0.33 earnings per share. The firm’s quarterly revenue was up 10.1% on a year-over-year basis. Equities research analysts predict 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. Shareholders of record on Friday, September 11th will be given a $0.17 dividend. This is an increase from NAPCO Security Technologies’s previous quarterly dividend of $0.15. This represents a $0.68 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Friday, September 11th. NAPCO Security Technologies’s dividend payout ratio (DPR) is presently 49.59%.

Key NAPCO Security Technologies News

Here are the key news stories impacting NAPCO Security Technologies this week:

• Negative Sentiment: Chairman Richard Soloway sold a combined 475,000 shares on August 26 and 27 for approximately $16.5 million. The transactions reduced his direct ownership by roughly 46%, leaving him with 621,958 shares. The size of the sales may concern investors because they came from a senior executive, although the filings do not state the reason for the transactions. SEC filing for Richard Soloway stock sales
• Negative Sentiment: Director Donna Anne Soloway sold 48,962 shares across the same two sessions for approximately $1.7 million, cutting her holdings to 20,962 shares. The combined insider sales totaled 523,962 shares and more than $18.2 million in proceeds. SEC filing for Donna Anne Soloway stock sales
• Negative Sentiment: NSSC shares hit a new 52-week low, reinforcing concerns about momentum. The stock is trading below both its 50-day and 200-day moving averages, indicating continued technical weakness. NAPCO Security Technologies hits new 52-week low

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of NAPCO Security Technologies in a report on Friday, August 7th. TD Cowen reaffirmed a “buy” rating and issued a $53.00 target price (up from $50.00) on shares of NAPCO Security Technologies in a research report on Tuesday, May 5th. DA Davidson set a $52.00 target price on shares of NAPCO Security Technologies in a research report on Tuesday. Benchmark reaffirmed a “buy” rating on shares of NAPCO Security Technologies in a research note on Tuesday. Finally, Needham & Company LLC reiterated a “buy” rating and set a $49.00 price target on shares of NAPCO Security Technologies in a research report on Friday, August 21st. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. 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.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. IFP Advisors Inc boosted its holdings in NAPCO Security Technologies by 193.3% in the third quarter. IFP Advisors Inc now owns 572 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 377 shares during the period. ProShare Advisors LLC grew its stake in NAPCO Security Technologies by 6.9% during the 4th quarter. ProShare Advisors LLC now owns 6,313 shares of the industrial products company’s stock worth $263,000 after purchasing an additional 407 shares in the last quarter. Legal & General Group Plc increased its holdings in NAPCO Security Technologies by 1.0% during the 3rd quarter. Legal & General Group Plc now owns 43,937 shares of the industrial products company’s stock worth $1,887,000 after purchasing an additional 430 shares during the period. Alliancebernstein L.P. increased its holdings in NAPCO Security Technologies by 1.3% during the 3rd quarter. Alliancebernstein L.P. now owns 36,826 shares of the industrial products company’s stock worth $1,582,000 after purchasing an additional 474 shares during the period. Finally, Quantinno Capital Management LP raised its position in NAPCO Security Technologies by 3.2% in the 1st quarter. Quantinno Capital Management LP now owns 19,464 shares of the industrial products company’s stock valued at $767,000 after purchasing an additional 596 shares in the last quarter. 85.07% of the stock is currently 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.