National Presto Industries (NYSE:NPK) Rating Lowered 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 issued to investors on Thursday morning.

National Presto Industries Stock Up 0.1 %

NYSE NPK traded up $0.10 on Thursday, reaching $84.18. The company had a trading volume of 16,336 shares, compared to its average volume of 34,719. The company’s fifty day moving average is $79.89 and its 200 day moving average is $79.10. National Presto Industries has a 52-week low of $68.82 and a 52-week high of $84.83. The stock has a market capitalization of $599.36 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 (EPS) for the quarter. National Presto Industries had a net margin of 30.35% and a return on equity of 29.68%. The firm had revenue of $98.42 million during the quarter.

National Presto Industries Dividend Announcement

The firm also recently disclosed an annual dividend, which was paid on Friday, March 15th. Shareholders 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 dividend payout ratio (DPR) is presently 20.58%.

Institutional Investors Weigh In On National Presto Industries

Large investors have recently added to or reduced their stakes in the company. Brandes Investment Partners LP increased its stake in shares of National Presto Industries by 53.4% in the third quarter. Brandes Investment Partners LP now owns 146,921 shares of the conglomerate’s stock worth $10,646,000 after purchasing an additional 51,165 shares in the last quarter. Pacer Advisors Inc. lifted its position in shares of National Presto Industries by 42.5% during the fourth quarter. Pacer Advisors Inc. now owns 109,814 shares of the conglomerate’s stock worth $8,816,000 after acquiring an additional 32,758 shares in the last quarter. Barclays PLC boosted its holdings in shares of National Presto Industries by 46.8% in the third quarter. Barclays PLC now owns 6,851 shares of the conglomerate’s stock worth $496,000 after acquiring an additional 2,183 shares during the period. International Assets Investment Management LLC grew its position in shares of 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 in the last quarter. Finally, Illinois Municipal Retirement Fund bought a new stake in shares of National Presto Industries during the 3rd quarter valued at $230,000. Hedge funds and other institutional investors own 58.57% of the company’s stock.

About National Presto Industries

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.