NAPCO Security Technologies (NASDAQ:NSSC) Chairman Richard Soloway Sells 379,529 Shares of Stock

NAPCO Security Technologies, Inc. (NASDAQ:NSSC) Chairman Richard Soloway sold 379,529 shares of NAPCO Security Technologies stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $34.50, for a total transaction of $13,093,750.50. Following the completion of the transaction, the chairman directly owned 621,958 shares of the company’s stock, valued at approximately $21,457,551. This trade represents a 37.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Richard Soloway also recently made the following trade(s):

• On Wednesday, August 26th, Richard Soloway sold 95,471 shares of NAPCO Security Technologies stock. The stock was sold at an average price of $35.93, for a total transaction of $3,430,273.03.

NAPCO Security Technologies Stock Performance

Shares of NSSC stock opened at $35.35 on Friday. The firm’s 50-day moving average is $37.44 and its 200-day moving average is $39.81. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of 29.21 and a beta of 1.45. NAPCO Security Technologies, Inc. has a 52-week low of $33.91 and a 52-week high of $51.77.

NAPCO Security Technologies (NASDAQ:NSSC) last posted its quarterly earnings results on Monday, August 24th. The industrial products company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.11. The business had revenue of $55.81 million during the quarter, compared to analysts’ expectations of $52.51 million. NAPCO Security Technologies had a return on equity of 31.41% and a net margin of 21.27%.NAPCO Security Technologies’s quarterly revenue was up 10.1% on a year-over-year basis. During the same quarter last year, the company posted $0.33 earnings per share. Sell-side analysts predict that NAPCO Security Technologies, Inc. will post 1.66 EPS for the current fiscal year.

NAPCO Security Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Friday, September 11th will be paid a dividend of $0.17 per share. The ex-dividend date is Friday, September 11th. This represents a $0.68 annualized dividend and a dividend yield of 1.9%. This is an increase from NAPCO Security Technologies’s previous quarterly dividend of $0.15. NAPCO Security Technologies’s dividend payout ratio is presently 49.59%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. IFP Advisors Inc raised its position in shares of NAPCO Security Technologies by 193.3% in the third quarter. IFP Advisors Inc now owns 572 shares of the industrial products company’s stock valued at $25,000 after buying an additional 377 shares in the last quarter. KBC Group NV acquired a new stake in NAPCO Security Technologies during the first quarter worth approximately $26,000. Advisory Services Network LLC acquired a new stake in NAPCO Security Technologies during the third quarter worth approximately $41,000. Blue Trust Inc. bought a new position in NAPCO Security Technologies during the 1st quarter worth $44,000. Finally, Kemnay Advisory Services Inc. bought a new position in NAPCO Security Technologies during the 4th quarter worth $107,000. 85.07% of the stock is owned by institutional investors.

Key Stories Impacting NAPCO Security Technologies

Here are the key news stories impacting NAPCO Security Technologies this week:

• Negative Sentiment: Chairman Richard Soloway sold a combined 475,000 shares on August 26 and 27 for approximately $16.5 million. The transactions reduced his direct ownership by roughly 46%, leaving him with 621,958 shares. The size of the sales may concern investors because they came from a senior executive, although the filings do not state the reason for the transactions. SEC filing for Richard Soloway stock sales
• Negative Sentiment: Director Donna Anne Soloway sold 48,962 shares across the same two sessions for approximately $1.7 million, cutting her holdings to 20,962 shares. The combined insider sales totaled 523,962 shares and more than $18.2 million in proceeds. SEC filing for Donna Anne Soloway stock sales
• Negative Sentiment: NSSC shares hit a new 52-week low, reinforcing concerns about momentum. The stock is trading below both its 50-day and 200-day moving averages, indicating continued technical weakness. NAPCO Security Technologies hits new 52-week low

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. TD Cowen reaffirmed a “buy” rating and set a $53.00 price target (up from $50.00) on shares of NAPCO Security Technologies in a report on Tuesday, May 5th. Needham & Company LLC reiterated a “buy” rating and issued a $49.00 price objective on shares of NAPCO Security Technologies in a report on Friday, August 21st. DA Davidson set a $52.00 price objective on shares of NAPCO Security Technologies in a research report on Tuesday. Wall Street Zen cut shares of NAPCO Security Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, July 4th. Finally, Benchmark reaffirmed a “buy” rating on shares of NAPCO Security Technologies in a report on Tuesday. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, NAPCO Security Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $50.40.

NAPCO Security Technologies Company Profile

NAPCO Security Technologies, Inc (NASDAQ: NSSC) is a designer and manufacturer of electronic security solutions for commercial and residential applications. The company’s product portfolio spans intrusion and fire alarm control panels, alarm communicators, access control locks and readers, as well as a broad range of peripheral modules and integrated security accessories. NAPCO’s offerings are engineered to deliver scalable, networked security systems suitable for new installations and retrofit projects alike.

Key product lines include hybrid alarm control panels that support both wired and wireless peripherals, cellular and IP alarm communicators for reliable central station reporting, and the acclaimed “Alarm Lock” series of standalone and networked electronic door locks.