Legal & General Group Plc Makes New $3.20 Million Investment in NAPCO Security Technologies, Inc. $NSSC

Legal & General Group Plc purchased a new position in shares of NAPCO Security Technologies, Inc. (NASDAQ:NSSC) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 84,279 shares of the industrial products company’s stock, valued at approximately $3,201,000.

A number of other institutional investors have also added to or reduced their stakes in NSSC. The Manufacturers Life Insurance Company bought a new position in shares of NAPCO Security Technologies in the second quarter valued at approximately $575,000. Mcmorgan & Co. LLC bought a new position in NAPCO Security Technologies in the 2nd quarter valued at $291,000. Visionary Wealth Advisors bought a new stake in shares of NAPCO Security Technologies during the 2nd quarter worth $9,965,000. Quantbot Technologies LP purchased a new position in shares of NAPCO Security Technologies in the 2nd quarter worth about $252,000. Finally, Ieq Capital LLC bought a new position in NAPCO Security Technologies during the second quarter valued at about $528,000. 85.07% of the stock is owned by institutional investors.

Insider Activity at NAPCO Security Technologies

In other news, Director Donna Soloway sold 20,962 shares of the company’s stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $34.62, for a total value of $725,704.44. Following the transaction, the director owned 20,962 shares of the company’s stock, valued at approximately $725,704.44. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Richard Soloway sold 379,529 shares of the stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $34.50, for a total value of $13,093,750.50. Following the completion of the sale, the chairman owned 621,958 shares in the company, valued at $21,457,551. This trade represents a 37.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 523,962 shares of company stock worth $18,257,168 over the last quarter. Corporate insiders own 5.65% of the company’s stock.

Wall Street Analyst Weigh In

NSSC has been the topic of several research reports. Wall Street Zen lowered shares of NAPCO Security Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, July 4th. Benchmark reaffirmed a “buy” rating on shares of NAPCO Security Technologies in a report on Tuesday, August 25th. DA Davidson set a $52.00 price objective on NAPCO Security Technologies in a report on Tuesday, August 25th. Weiss Ratings reissued a “hold (c)” rating on shares of NAPCO Security Technologies in a research report on Friday, August 7th. Finally, Needham & Company LLC restated a “buy” rating and issued a $49.00 target price on shares of NAPCO Security Technologies in a research note on Friday, August 21st. Six equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $50.40.

NAPCO Security Technologies Stock Down 0.1%

NSSC stock opened at $37.01 on Friday. The stock has a 50-day simple moving average of $37.33 and a two-hundred day simple moving average of $39.57. NAPCO Security Technologies, Inc. has a twelve month low of $33.91 and a twelve month high of $51.77. The firm has a market capitalization of $1.32 billion, a PE ratio of 30.59 and a beta of 1.43.

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

NAPCO Security Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Friday, September 11th will be issued a dividend of $0.17 per share. This is a boost from NAPCO Security Technologies’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Friday, September 11th. This represents a $0.68 dividend on an annualized basis and a yield of 1.8%. NAPCO Security Technologies’s payout ratio is currently 49.59%.

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.