Legato Capital Management LLC Sells 11,710 Shares of NAPCO Security Technologies, Inc. $NSSC

Legato Capital Management LLC decreased its holdings in shares of NAPCO Security Technologies, Inc. (NASDAQ:NSSC) by 42.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,764 shares of the industrial products company’s stock after selling 11,710 shares during the period. Legato Capital Management LLC’s holdings in NAPCO Security Technologies were worth $677,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of NSSC. Cornerstone Planning Group LLC bought a new position in NAPCO Security Technologies in the 3rd quarter worth $25,000. Exchange Traded Concepts LLC purchased a new stake in NAPCO Security Technologies in the third quarter worth about $26,000. State of Wyoming bought a new position in shares of NAPCO Security Technologies in the third quarter worth about $41,000. First Horizon Advisors Inc. lifted its position in shares of NAPCO Security Technologies by 49.8% during the 2nd quarter. First Horizon Advisors Inc. now owns 1,552 shares of the industrial products company’s stock valued at $46,000 after buying an additional 516 shares in the last quarter. Finally, State of Alaska Department of Revenue purchased a new position in shares of NAPCO Security Technologies during the 3rd quarter valued at about $67,000. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at NAPCO Security Technologies

In other news, CEO Richard Soloway sold 150,000 shares of the firm’s stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $42.74, for a total transaction of $6,411,000.00. Following the completion of the transaction, the chief executive officer owned 1,256,010 shares in the company, valued at $53,681,867.40. This trade represents a 10.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 5.65% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on NSSC shares. Zacks Research lowered shares of NAPCO Security Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 6th. Weiss Ratings reiterated a “hold (c+)” rating on shares of NAPCO Security Technologies in a research report on Wednesday, January 28th. DA Davidson restated a “buy” rating and set a $50.00 price objective on shares of NAPCO Security Technologies in a research report on Tuesday, February 3rd. Finally, Needham & Company LLC restated a “buy” rating and set a $49.00 target price (up from $47.00) on shares of NAPCO Security Technologies in a research note on Monday, February 2nd. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $47.83.

NAPCO Security Technologies Price Performance

Shares of NSSC opened at $43.57 on Thursday. NAPCO Security Technologies, Inc. has a 1 year low of $19.00 and a 1 year high of $48.12. The company has a 50 day simple moving average of $42.07 and a two-hundred day simple moving average of $41.41. The firm has a market cap of $1.55 billion, a P/E ratio of 32.76 and a beta of 1.45.

NAPCO Security Technologies (NASDAQ:NSSC) last released its earnings results on Monday, February 2nd. The industrial products company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.33 by $0.05. NAPCO Security Technologies had a net margin of 24.70% and a return on equity of 27.45%. The firm had revenue of $48.17 million for the quarter, compared to the consensus estimate of $47.82 million. During the same quarter in the previous year, the firm earned $0.28 earnings per share. The company’s quarterly revenue was up 12.4% compared to the same quarter last year. On average, sell-side analysts anticipate that NAPCO Security Technologies, Inc. will post 1.24 earnings per share for the current year.

NAPCO Security Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 3rd. Shareholders of record on Thursday, March 12th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.4%. The ex-dividend date is Thursday, March 12th. This is an increase from NAPCO Security Technologies’s previous quarterly dividend of $0.14. NAPCO Security Technologies’s dividend payout ratio is presently 42.11%.

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.