National Presto Industries (NYSE:NPK) Downgraded to “Buy” at StockNews.com

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

National Presto Industries Price Performance

NPK traded up $0.32 during trading hours on Thursday, reaching $84.08. The company’s stock had a trading volume of 18,381 shares, compared to its average volume of 25,814. The stock has a market cap of $598.65 million, a PE ratio of 17.30 and a beta of 0.59. National Presto Industries has a fifty-two week low of $67.18 and a fifty-two week high of $84.83. The business’s 50-day moving average is $79.89 and its 200-day moving average is $79.05.

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

National Presto Industries Dividend Announcement

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

Institutional Investors Weigh In On National Presto Industries

Institutional investors and hedge funds have recently made changes to their positions in the stock. Brandes Investment Partners LP increased its holdings in National Presto Industries by 53.4% in the 3rd quarter. Brandes Investment Partners LP now owns 146,921 shares of the conglomerate’s stock valued at $10,646,000 after purchasing an additional 51,165 shares during the last quarter. Pacer Advisors Inc. grew its stake in shares of 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 buying an additional 32,758 shares in the last quarter. International Assets Investment Management LLC raised its holdings in shares of National Presto Industries by 7,928.0% in the 4th quarter. International Assets Investment Management LLC now owns 24,084 shares of the conglomerate’s stock valued at $1,933,000 after buying an additional 23,784 shares during the period. Steel Partners Holdings L.P. acquired a new position in National Presto Industries during the 4th quarter worth about $1,009,000. Finally, Penn Mutual Asset Management LLC boosted its holdings in National Presto Industries by 72.5% during the 4th quarter. Penn Mutual Asset Management LLC now owns 27,344 shares of the conglomerate’s stock valued at $2,195,000 after acquiring an additional 11,494 shares during the period. 58.57% of the stock is owned by hedge funds and other institutional investors.

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.