Raffles Associates LP Sells 6,000 Shares of Napco Security Technologies, Inc. (NASDAQ:NSSC)

Raffles Associates LP cut its holdings in shares of Napco Security Technologies, Inc. (NASDAQ:NSSC) by 18.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 27,424 shares of the industrial products company’s stock after selling 6,000 shares during the quarter. Napco Security Technologies comprises 1.1% of Raffles Associates LP’s portfolio, making the stock its 24th biggest holding. Raffles Associates LP’s holdings in Napco Security Technologies were worth $1,110,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in NSSC. PDT Partners LLC acquired a new position in shares of Napco Security Technologies in the third quarter valued at $1,475,000. Verition Fund Management LLC acquired a new position in Napco Security Technologies in the 3rd quarter valued at about $1,769,000. Rockefeller Capital Management L.P. raised its holdings in Napco Security Technologies by 74.3% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 300,901 shares of the industrial products company’s stock valued at $12,174,000 after acquiring an additional 128,316 shares during the period. Walleye Capital LLC acquired a new stake in Napco Security Technologies during the third quarter worth approximately $330,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Napco Security Technologies by 215.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,640 shares of the industrial products company’s stock worth $795,000 after acquiring an additional 13,418 shares during the period. Institutional investors own 85.07% of the company’s stock.

Insider Transactions at Napco Security Technologies

In related news, Director Paul Stephen Beeber sold 708 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $37.12, for a total value of $26,280.96. Following the completion of the transaction, the director now owns 2,681 shares of the company’s stock, valued at $99,518.72. This represents a 20.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 5.24% of the stock is owned by insiders.

Wall Street Analyst Weigh In

NSSC has been the subject of several research reports. DA Davidson dropped their price target on Napco Security Technologies from $55.00 to $48.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. Craig Hallum reduced their target price on shares of Napco Security Technologies from $65.00 to $48.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Needham & Company LLC upped their price target on shares of Napco Security Technologies from $52.00 to $57.00 and gave the company a “buy” rating in a research note on Tuesday, August 27th. Lake Street Capital dropped their price objective on shares of Napco Security Technologies from $60.00 to $41.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Finally, TD Cowen decreased their target price on shares of Napco Security Technologies from $60.00 to $46.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $47.14.

Napco Security Technologies Stock Up 0.8 %

Shares of Napco Security Technologies stock opened at $39.23 on Friday. Napco Security Technologies, Inc. has a 12-month low of $30.04 and a 12-month high of $58.09. The company has a market capitalization of $1.44 billion, a price-to-earnings ratio of 28.85 and a beta of 1.64. The firm’s 50-day moving average price is $39.03 and its two-hundred day moving average price is $46.11.

Napco Security Technologies (NASDAQ:NSSC) last posted its quarterly earnings results on Monday, November 4th. The industrial products company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.05). Napco Security Technologies had a return on equity of 29.56% and a net margin of 26.43%. The firm had revenue of $44.00 million for the quarter, compared to analyst estimates of $46.56 million. During the same quarter in the prior year, the business posted $0.28 EPS. The business’s revenue was up 5.5% on a year-over-year basis. On average, sell-side analysts expect that Napco Security Technologies, Inc. will post 1.49 earnings per share for the current year.

Napco Security Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Thursday, December 12th will be issued a dividend of $0.125 per share. The ex-dividend date is Thursday, December 12th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.27%. Napco Security Technologies’s dividend payout ratio (DPR) is currently 36.76%.

Napco Security Technologies Company Profile

Napco Security Technologies, Inc develops, manufactures, and sells electronic security systems for commercial, residential, institutional, industrial, and governmental applications in the United States and internationally. Its access control systems include various types of identification readers, control panels, PC-based computers, and electronically activated door-locking devices; intrusion and fire alarm systems, consists of various detectors, a control panel, a digital keypad and signaling equipment; and door locking devices comprise microprocessor-based electronic door locks with push button, card readers and bio-metric operation, door alarms, mechanical door locks, and simple dead bolt locks.