Wallace Capital Management Inc. Reduces Position in National Presto Industries, Inc. (NYSE:NPK)

Wallace Capital Management Inc. trimmed its position in National Presto Industries, Inc. (NYSE:NPK) by 13.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,447 shares of the conglomerate’s stock after selling 4,889 shares during the quarter. National Presto Industries makes up 0.4% of Wallace Capital Management Inc.’s investment portfolio, making the stock its 23rd largest position. Wallace Capital Management Inc.’s holdings in National Presto Industries were worth $3,095,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. PNC Financial Services Group Inc. raised its stake in National Presto Industries by 50.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 362 shares of the conglomerate’s stock valued at $36,000 after buying an additional 121 shares in the last quarter. Newbridge Financial Services Group Inc. acquired a new stake in shares of National Presto Industries during the 4th quarter worth about $79,000. Lazard Asset Management LLC lifted its stake in National Presto Industries by 64.6% during the fourth quarter. Lazard Asset Management LLC now owns 856 shares of the conglomerate’s stock worth $84,000 after purchasing an additional 336 shares during the last quarter. US Bancorp DE lifted its stake in National Presto Industries by 11.6% during the fourth quarter. US Bancorp DE now owns 1,616 shares of the conglomerate’s stock worth $159,000 after purchasing an additional 168 shares during the last quarter. Finally, Janus Henderson Group PLC acquired a new position in National Presto Industries in the fourth quarter valued at approximately $230,000. 58.57% of the stock is owned by hedge funds and other institutional investors.

National Presto Industries Price Performance

Shares of NYSE:NPK opened at $86.77 on Tuesday. National Presto Industries, Inc. has a 12 month low of $69.58 and a 12 month high of $103.93. The firm has a market capitalization of $620.15 million, a P/E ratio of 18.27 and a beta of 0.49. The company’s fifty day moving average price is $85.57 and its 200 day moving average price is $89.44.

National Presto Industries (NYSE:NPK) last issued its quarterly earnings data on Wednesday, May 7th. The conglomerate reported $1.07 earnings per share (EPS) for the quarter. National Presto Industries had a return on equity of 9.88% and a net margin of 9.63%. The company had revenue of $103.64 million for the quarter.

National Presto Industries Dividend Announcement

The company also recently declared an annual dividend, which was paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th were given a dividend of $1.00 per share. This represents a yield of 1%. The ex-dividend date was Tuesday, March 4th. National Presto Industries’s dividend payout ratio (DPR) is 16.78%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of National Presto Industries from a “buy” rating to a “hold” rating in a report on Monday, May 12th.

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.