NAPCO Security Technologies, Inc. (NASDAQ:NSSC) Short Interest Up 54.1% in March

NAPCO Security Technologies, Inc. (NASDAQ:NSSC) saw a significant increase in short interest in March. As of March 13th, there was short interest totaling 4,664,025 shares, an increase of 54.1% from the February 26th total of 3,027,521 shares. Currently, 13.9% of the shares of the stock are sold short. Based on an average daily volume of 1,329,309 shares, the days-to-cover ratio is currently 3.5 days.

Insider Activity at NAPCO Security Technologies

In other news, CEO Richard Soloway sold 129,682 shares of the firm’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $44.99, for a total value of $5,834,393.18. Following the completion of the sale, the chief executive officer directly owned 1,152,276 shares in the company, valued at approximately $51,840,897.24. This trade represents a 10.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 5.65% of the company’s stock.

Hedge Funds Weigh In On NAPCO Security Technologies

Institutional investors have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in NAPCO Security Technologies by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,899 shares of the industrial products company’s stock valued at $481,000 after buying an additional 885 shares in the last quarter. Millennium Management LLC increased its holdings in NAPCO Security Technologies by 62.4% during the 1st quarter. Millennium Management LLC now owns 769,789 shares of the industrial products company’s stock worth $17,721,000 after purchasing an additional 295,755 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of NAPCO Security Technologies by 75.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 589,290 shares of the industrial products company’s stock valued at $13,565,000 after purchasing an additional 254,007 shares during the period. Jane Street Group LLC raised its stake in shares of NAPCO Security Technologies by 351.7% in the 1st quarter. Jane Street Group LLC now owns 98,221 shares of the industrial products company’s stock valued at $2,261,000 after purchasing an additional 76,478 shares during the period. Finally, Acadian Asset Management LLC bought a new stake in shares of NAPCO Security Technologies in the first quarter valued at about $91,000. Institutional investors own 85.07% of the company’s stock.

Analyst Ratings Changes

NSSC has been the subject of a number of research analyst reports. DA Davidson reaffirmed a “buy” rating and issued a $50.00 target price on shares of NAPCO Security Technologies in a research note on Tuesday, February 3rd. Weiss Ratings reissued a “hold (c+)” rating on shares of NAPCO Security Technologies in a report on Wednesday, January 28th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $49.00 target price (up from $47.00) on shares of NAPCO Security Technologies in a research note on Monday, February 2nd. Six equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.83.

NAPCO Security Technologies Stock Performance

Shares of NASDAQ NSSC opened at $38.31 on Monday. The stock has a market cap of $1.37 billion, a P/E ratio of 28.80 and a beta of 1.44. The firm has a 50 day moving average price of $42.30 and a 200 day moving average price of $42.11. NAPCO Security Technologies has a 52-week low of $19.00 and a 52-week high of $48.12.

NAPCO Security Technologies (NASDAQ:NSSC) last posted its earnings results on Monday, February 2nd. The industrial products company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.05. The company had revenue of $48.17 million for the quarter, compared to analyst estimates of $47.82 million. NAPCO Security Technologies had a net margin of 24.70% and a return on equity of 27.45%. The business’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same period last year, the business posted $0.28 earnings per share. Analysts predict that NAPCO Security Technologies will post 1.24 earnings per share for the current fiscal year.

NAPCO Security Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 3rd. Shareholders of record on Thursday, March 12th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.6%. This is an increase from NAPCO Security Technologies’s previous quarterly dividend of $0.14. The ex-dividend date is Thursday, March 12th. NAPCO Security Technologies’s dividend payout ratio is currently 45.11%.

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.