National Presto Industries (NYSE:NPK) Issues Quarterly Earnings Results

National Presto Industries (NYSE:NPK) announced its quarterly earnings results on Friday. The conglomerate reported $2.79 earnings per share (EPS) for the quarter, FiscalAI reports. National Presto Industries had a return on equity of 10.83% and a net margin of 7.86%. The business had revenue of $144.31 million for the quarter.

National Presto Industries Trading Down 0.8%

Shares of NPK traded down $1.08 during trading hours on Friday, reaching $139.22. 51,467 shares of the stock traded hands, compared to its average volume of 101,870. National Presto Industries has a 52 week low of $91.28 and a 52 week high of $158.17. The company has a market cap of $994.03 million, a price-to-earnings ratio of 23.28 and a beta of 0.49. The stock has a fifty day simple moving average of $148.63 and a 200 day simple moving average of $137.71.

Institutional Investors Weigh In On National Presto Industries

Several institutional investors and hedge funds have recently added to or reduced their stakes in NPK. BlackRock Inc. bought a new position in National Presto Industries in the 2nd quarter valued at $122,206,000. Medina Value Partners LLC bought a new stake in shares of National Presto Industries during the 2nd quarter worth $21,695,514. J. Goldman & Co LP purchased a new position in shares of National Presto Industries in the 2nd quarter worth about $15,397,000. Bank of New York Mellon Corp purchased a new position in shares of National Presto Industries in the 2nd quarter worth about $7,511,000. Finally, Martin & Co. Inc. TN purchased a new position in shares of National Presto Industries in the 2nd quarter worth about $3,642,000. Hedge funds and other institutional investors own 58.57% of the company’s stock.

Analysts Set New Price Targets

NPK has been the subject of several recent research reports. Wall Street Zen upgraded National Presto Industries from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 31st. Freedom Broker initiated coverage on National Presto Industries in a report on Thursday, October 1st. They issued a “hold” rating and a $162.00 target price on the stock. Weiss Ratings upgraded National Presto Industries from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. Finally, National Bank Financial set a $162.00 price target on shares of National Presto Industries in a research report on Wednesday, September 30th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $162.00.

National Presto Industries Company Profile

National Presto Industries, Inc. is a diversified manufacturer based in Eau Claire, Wisconsin. The company operates in housewares and small appliances, defense products, and safety products, serving consumer, commercial, and government markets. Its housewares business is known for Presto-branded pressure cookers, pressure canners, deep fryers, and other kitchen appliances. The defense business manufactures ordnance and related products, while its safety-products operations make absorbent materials used in personal-care and other applications.