National Presto Industries (NYSE:NPK) Shares Down 9.6% Following Insider Selling
by Mitch Edgeman · The Markets DailyShares of National Presto Industries, Inc. (NYSE:NPK – Get Free Report) dropped 9.6% on Thursday following insider selling activity. The company traded as low as $130.77 and last traded at $126.7570. Approximately 26,778 shares changed hands during mid-day trading, a decline of 68% from the average daily volume of 83,131 shares. The stock had previously closed at $140.25.
Specifically, Director Randy F. Lieble sold 2,417 shares of the firm’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $143.97, for a total transaction of $347,975.49. Following the sale, the director directly owned 5,222 shares of the company’s stock, valued at $751,811.34. This trade represents a 31.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Wall Street Analyst Weigh In
A number of research firms have recently weighed in on NPK. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of National Presto Industries in a research note on Monday, December 29th. Wall Street Zen upgraded National Presto Industries from a “sell” rating to a “hold” rating in a research note on Saturday, January 10th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy”.
Read Our Latest Stock Analysis on National Presto Industries
National Presto Industries Stock Performance
The firm has a market cap of $914.77 million, a P/E ratio of 23.47 and a beta of 0.49. The firm’s fifty day simple moving average is $125.69 and its 200 day simple moving average is $113.11.
National Presto Industries Dividend Announcement
The company also recently declared an annual dividend, which will be paid on Friday, March 20th. Shareholders of record on Monday, March 9th will be issued a dividend of $1.00 per share. This represents a yield of 71.0%. The ex-dividend date is Monday, March 9th. National Presto Industries’s dividend payout ratio (DPR) is currently 18.38%.
Institutional Trading of National Presto Industries
Hedge funds have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd bought a new position in shares of National Presto Industries during the 4th quarter valued at approximately $37,000. Aristides Capital LLC bought a new position in National Presto Industries during the fourth quarter valued at $323,000. Invesco Ltd. lifted its position in National Presto Industries by 18.7% during the fourth quarter. Invesco Ltd. now owns 78,808 shares of the conglomerate’s stock valued at $8,414,000 after purchasing an additional 12,436 shares during the last quarter. Millennium Management LLC grew its stake in shares of National Presto Industries by 6.6% in the 4th quarter. Millennium Management LLC now owns 54,741 shares of the conglomerate’s stock worth $5,844,000 after buying an additional 3,405 shares in the last quarter. Finally, EVR Research LP increased its holdings in shares of National Presto Industries by 82.9% in the 4th quarter. EVR Research LP now owns 75,000 shares of the conglomerate’s stock worth $8,007,000 after buying an additional 34,000 shares during the last quarter. 58.57% of the stock is owned by hedge funds and other institutional investors.
National Presto Industries Company Profile
National Presto Industries, Inc is an American diversified manufacturer headquartered in Eau Claire, Wisconsin. The company operates primarily through three business segments—Housewares/Small Appliances, Defense Products, and Safety—which together supply a range of consumer and industrial markets. Founded in 1905, National Presto Industries has built a reputation for durable, user-friendly products marketed under the Presto and National Presto brands.
In its Housewares/Small Appliances segment, National Presto offers a variety of kitchen products designed to simplify home cooking and meal preparation.