Pinnacle Associates Ltd. Purchases Shares of 66,478 NPK International Inc. $NPKI

Pinnacle Associates Ltd. purchased a new position in NPK International Inc. (NYSE:NPKI) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 66,478 shares of the company’s stock, valued at approximately $752,000. Pinnacle Associates Ltd. owned about 0.08% of NPK International at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Wilmington Savings Fund Society FSB acquired a new position in shares of NPK International in the 3rd quarter valued at $28,000. Wealth Enhancement Advisory Services LLC acquired a new stake in NPK International during the 3rd quarter worth about $33,000. EverSource Wealth Advisors LLC acquired a new stake in NPK International during the 2nd quarter worth about $26,000. State of Alaska Department of Revenue purchased a new stake in NPK International during the 3rd quarter valued at about $52,000. Finally, Federated Hermes Inc. purchased a new stake in NPK International during the 2nd quarter valued at about $39,000. 80.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other NPK International news, CFO Gregg Piontek sold 108,590 shares of the company’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $14.07, for a total value of $1,527,861.30. Following the sale, the chief financial officer owned 884,326 shares in the company, valued at approximately $12,442,466.82. This represents a 10.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Michael A. Lewis sold 2,013 shares of the firm’s stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $14.31, for a total transaction of $28,806.03. Following the sale, the director directly owned 131,333 shares in the company, valued at $1,879,375.23. The trade was a 1.51% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 4.90% of the company’s stock.

NPK International Price Performance

NYSE:NPKI opened at $13.18 on Friday. The firm’s fifty day moving average is $13.81 and its two-hundred day moving average is $12.48. The firm has a market cap of $1.11 billion, a price-to-earnings ratio of 29.28 and a beta of 1.23. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.22 and a current ratio of 1.43. NPK International Inc. has a one year low of $4.76 and a one year high of $15.96.

NPK International (NYSE:NPKI) last released its quarterly earnings data on Wednesday, February 25th. The company reported $0.13 earnings per share 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 analyst estimates of $69.02 million. NPK International had a return on equity of 10.83% and a net margin of 14.06%. Research analysts expect that NPK International Inc. will post 0.39 EPS for the current year.

Analyst Upgrades and Downgrades

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

NPK International Company 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.