StockNews.com Lowers National Presto Industries (NYSE:NPK) to Buy

StockNews.com cut shares of National Presto Industries (NYSE:NPK) from a strong-buy rating to a buy rating in a report published on Thursday.

National Presto Industries Stock Performance

Shares of NYSE NPK opened at $84.08 on Thursday. The stock’s fifty day moving average is $79.89 and its 200 day moving average is $79.07. The stock has a market capitalization of $598.65 million, a P/E ratio of 17.30 and a beta of 0.59. National Presto Industries has a 52 week low of $67.18 and a 52 week high of $84.83.

National Presto Industries (NYSE:NPK) last announced its quarterly earnings data on Tuesday, February 20th. The conglomerate reported $1.85 earnings per share for the quarter. National Presto Industries had a return on equity of 10.14% and a net margin of 10.14%. The business had revenue of $98.42 million during the quarter.

National Presto Industries Announces Dividend

The firm also recently disclosed an annual dividend, which was paid on Friday, March 15th. Investors 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 dividend yield of 1.28%. National Presto Industries’s dividend payout ratio is 20.58%.

Institutional Investors Weigh In On National Presto Industries

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Brandes Investment Partners LP increased its position in shares of National Presto Industries by 53.4% during the third quarter. Brandes Investment Partners LP now owns 146,921 shares of the conglomerate’s stock worth $10,646,000 after buying an additional 51,165 shares during the period. Pacer Advisors Inc. lifted its stake in shares of National Presto Industries by 42.5% in the 4th quarter. Pacer Advisors Inc. now owns 109,814 shares of the conglomerate’s stock valued at $8,816,000 after purchasing an additional 32,758 shares during the period. Barclays PLC lifted its stake in shares of National Presto Industries by 46.8% in the 3rd quarter. Barclays PLC now owns 6,851 shares of the conglomerate’s stock valued at $496,000 after purchasing an additional 2,183 shares during the period. International Assets Investment Management LLC boosted its position in shares of National Presto Industries by 7,928.0% during the 4th 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 acquired a new stake in National Presto Industries during the third quarter worth approximately $230,000. Institutional investors and hedge funds own 58.57% of the company’s stock.

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.