National Presto Industries (NYSE:NPK) Cut to Buy at StockNews.com

StockNews.com downgraded shares of National Presto Industries (NYSE:NPK) from a strong-buy rating to a buy rating in a research note issued to investors on Thursday.

National Presto Industries Trading Up 0.4 %

Shares of NYSE:NPK traded up $0.32 during midday trading on Thursday, hitting $84.08. 18,381 shares of the stock were exchanged, compared to its average volume of 25,814. National Presto Industries has a twelve month low of $67.18 and a twelve month high of $84.83. The company has a 50 day moving average price of $79.89 and a 200-day moving average price of $79.05. The stock has a market cap of $598.65 million, a P/E ratio of 17.30 and a beta of 0.59.

National Presto Industries (NYSE:NPK) last posted its earnings results on Tuesday, February 20th. The conglomerate reported $1.85 earnings per share for the quarter. National Presto Industries had a net margin of 10.14% and a return on equity of 10.14%. The firm had revenue of $98.42 million during the quarter.

National Presto Industries Dividend Announcement

The firm also recently announced an annual dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a $1.00 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a yield of 1.28%. National Presto Industries’s payout ratio is currently 20.58%.

Institutional Trading of National Presto Industries

A number of hedge funds have recently added to or reduced their stakes in the business. Brandes Investment Partners LP increased its stake in shares of National Presto Industries by 53.4% during the 3rd quarter. Brandes Investment Partners LP now owns 146,921 shares of the conglomerate’s stock valued at $10,646,000 after acquiring an additional 51,165 shares during the last quarter. Pacer Advisors Inc. grew its holdings in National Presto Industries by 42.5% in the fourth quarter. Pacer Advisors Inc. now owns 109,814 shares of the conglomerate’s stock valued at $8,816,000 after purchasing an additional 32,758 shares during the period. International Assets Investment Management LLC grew its holdings in National Presto Industries by 7,928.0% in the fourth quarter. International Assets Investment Management LLC now owns 24,084 shares of the conglomerate’s stock valued at $1,933,000 after purchasing an additional 23,784 shares during the period. Steel Partners Holdings L.P. acquired a new position in National Presto Industries during the fourth quarter worth approximately $1,009,000. Finally, Penn Mutual Asset Management LLC raised its stake in National Presto Industries by 72.5% during the fourth quarter. Penn Mutual Asset Management LLC now owns 27,344 shares of the conglomerate’s stock worth $2,195,000 after purchasing an additional 11,494 shares during the period. 58.57% of the stock is owned by institutional investors and hedge funds.

National Presto Industries Company Profile

National Presto Industries, Inc provides housewares and small appliance, defense, and safety products in North America. The company's Housewares/Small Appliance segment designs, markets, and distributes housewares and small electrical appliances, including pressure cookers and canners; heat control line of skillets, griddles, woks, and multi-purpose cookers; slow cookers; deep fryers; air fryers; waffle makers; pizza ovens; slicer/shredders; electric heaters; hot air, oil, and microwave corn poppers; dehydrators; vacuum sealers; rice cookers; microwave bacon cookers; egg cookers; coffeemakers and coffeemaker accessories; electric knife sharpeners; and timers under the Presto Control Master brand.