Granahan Investment Management LLC Sells 157,520 Shares of NPK International Inc. $NPKI

Granahan Investment Management LLC reduced its holdings in shares of NPK International Inc. (NYSE:NPKI) by 24.0% in the third quarter, HoldingsChannel.com reports. The fund owned 499,940 shares of the company’s stock after selling 157,520 shares during the quarter. Granahan Investment Management LLC’s holdings in NPK International were worth $5,654,000 at the end of the most recent quarter.

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

Insider Activity at NPK International

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

NPK International Price Performance

NPKI stock opened at $13.36 on Monday. The stock has a market capitalization of $1.13 billion, a PE ratio of 29.68 and a beta of 1.23. The company’s 50-day moving average is $13.83 and its 200-day moving average is $12.53. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.43 and a quick ratio of 1.22. NPK International Inc. has a 1 year low of $4.76 and a 1 year high of $15.96.

NPK International (NYSE:NPKI) last issued its earnings results on Wednesday, February 25th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.11 by $0.02. NPK International had a return on equity of 10.83% and a net margin of 14.06%.The company had revenue of $75.20 million during the quarter, compared to the consensus estimate of $69.02 million. Equities research analysts expect that NPK International Inc. will post 0.39 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on NPKI. Wall Street Zen lowered NPK International from a “buy” rating to a “hold” rating in a research note on Saturday, January 17th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of NPK International in a research report on Monday, December 29th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $14.17.

About NPK International

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.