Pinnacle Associates Ltd. Makes New Investment in NPK International Inc. $NPKI

Pinnacle Associates Ltd. bought a new position in shares of NPK International Inc. (NYSE:NPKI) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor bought 66,478 shares of the company’s stock, valued at approximately $752,000.

A number of other institutional investors have also recently modified their holdings of the business. Envestnet Asset Management Inc. acquired a new position in NPK International in the 2nd quarter worth about $141,000. Teacher Retirement System of Texas purchased a new position in NPK International during the second quarter worth approximately $106,000. Savant Capital LLC acquired a new stake in NPK International in the second quarter valued at approximately $299,000. Fox Run Management L.L.C. purchased a new stake in shares of NPK International in the second quarter valued at approximately $128,000. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in shares of NPK International in the second quarter valued at approximately $248,000. 80.81% of the stock is currently owned by institutional investors and hedge funds.

NPK International Trading Down 3.4%

NPKI stock opened at $13.18 on Friday. NPK International Inc. has a 12-month low of $4.76 and a 12-month high of $15.96. The business’s 50-day moving average is $13.81 and its 200 day moving average is $12.48. The company has a current ratio of 1.43, a quick ratio of 1.22 and a debt-to-equity ratio of 0.03. The stock has a market cap of $1.11 billion, a price-to-earnings ratio of 29.28 and a beta of 1.23.

NPK International (NYSE:NPKI) last announced its earnings results on Wednesday, February 25th. The company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.02. The business had revenue of $75.20 million during the quarter, compared to analysts’ expectations of $69.02 million. NPK International had a return on equity of 10.83% and a net margin of 14.06%. On average, sell-side analysts anticipate that NPK International Inc. will post 0.39 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on NPKI shares. Weiss Ratings reiterated a “hold (c)” rating on shares of NPK International in a research report on Monday, December 29th. Wall Street Zen lowered shares of NPK International from a “buy” rating to a “hold” rating in a report on Saturday, January 17th. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, NPK International currently has a consensus rating of “Moderate Buy” and a consensus price target of $14.17.

Insider Activity at NPK International

In related news, Director Michael A. Lewis sold 2,013 shares of the stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $14.31, for a total value of $28,806.03. Following the completion of the transaction, the director directly owned 131,333 shares of the company’s stock, valued at approximately $1,879,375.23. This represents a 1.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Gregg Piontek sold 108,590 shares of the stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $14.07, for a total value of $1,527,861.30. Following the completion of the transaction, the chief financial officer directly owned 884,326 shares of the company’s stock, valued at approximately $12,442,466.82. This represents a 10.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 4.90% of the stock is currently owned by insiders.

NPK International Profile

NPK International, Inc (NYSE: NPKI) is a specialty chemical distributor supplying a broad range of industrial and performance materials across diverse end-markets. Its product portfolio includes acetic acid and derivatives, alcohols, ketones, esters, glycol ethers, glycols, specialty solvents, select inorganic chemicals and crop-protection intermediates. These materials serve industries such as coatings, adhesives and sealants, oil and gas, personal care, pharmaceuticals, agrochemicals and water treatment.

The company places a strong emphasis on supply-chain security and technical service, maintaining warehousing, logistics support and laboratory capabilities at its regional distribution centers.