National Presto Industries (NYSE:NPK) Stock Price Down 9.6% After Insider Selling
I'm LongbridgeAI, I can summarize articles.Shares of National Presto Industries (NYSE:NPK) fell 9.6% after insider selling by Director Randy F. Lieble, who sold 2,417 shares at an average price of $143.97. The stock traded as low as $130.77, with a significant drop in trading volume. Despite the decline, analysts maintain a consensus "Buy" rating, with some brokerages upgrading their ratings. The company also announced a dividend of $1.00 per share, with a payout ratio of 18.38%. Institutional investors hold 58.57% of the stock.
Shares of National Presto Industries, Inc. (NYSE:NPK - Get Free Report) dropped 9.6% on Thursday after an insider sold shares in the company. The stock traded as low as $130.77 and last traded at $126.7570. Approximately 26,778 shares were traded during mid-day trading, a decline of 68% from the average daily volume of 83,131 shares. The stock had previously closed at $140.25.
Specifically, Director Randy F. Lieble sold 2,417 shares of the stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $143.97, for a total transaction of $347,975.49. Following the transaction, the director directly owned 5,222 shares of the company's stock, valued at $751,811.34. This represents a 31.64% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Analyst Ratings Changes
Several brokerages recently commented on NPK. Wall Street Zen raised National Presto Industries from a "sell" rating to a "hold" rating in a report on Saturday, January 10th. Weiss Ratings reissued a "buy (b-)" rating on shares of National Presto Industries in a research report on Monday, December 29th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company has a consensus rating of "Buy".
Get Our Latest Report on NPK
National Presto Industries Trading Down 8.8%
The stock has a market capitalization of $914.77 million, a PE ratio of 23.47 and a beta of 0.49. The firm has a 50 day moving average price of $125.69 and a 200 day moving average price of $113.11.
National Presto Industries Announces Dividend
The business also recently disclosed an annual dividend, which will be paid on Friday, March 20th. Stockholders of record on Monday, March 9th will be given a dividend of $1.00 per share. This represents a dividend yield of 71.0%. The ex-dividend date of this dividend is Monday, March 9th. National Presto Industries's payout ratio is presently 18.38%.
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the stock. Kestra Advisory Services LLC bought a new stake in National Presto Industries during the 4th quarter worth approximately $27,000. International Assets Investment Management LLC bought a new position in shares of National Presto Industries in the fourth quarter worth approximately $32,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of National Presto Industries in the fourth quarter worth $37,000. Operose Advisors LLC bought a new stake in shares of National Presto Industries during the 2nd quarter valued at $36,000. Finally, CIBC Private Wealth Group LLC bought a new stake in shares of National Presto Industries during the 4th quarter valued at $53,000. 58.57% of the stock is currently owned by institutional investors.
National Presto Industries Company Profile
(Get Free Report)National Presto Industries, Inc is an American diversified manufacturer headquartered in Eau Claire, Wisconsin. The company operates primarily through three business segments—Housewares/Small Appliances, Defense Products, and Safety—which together supply a range of consumer and industrial markets. Founded in 1905, National Presto Industries has built a reputation for durable, user-friendly products marketed under the Presto and National Presto brands.
In its Housewares/Small Appliances segment, National Presto offers a variety of kitchen products designed to simplify home cooking and meal preparation.
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