National Presto Industries (NYSE:NPK) Trading Down 8.1% – Here’s What Happened

National Presto Industries, Inc. (NYSE:NPK) shares dropped 8.1% during mid-day trading on Monday . The company traded as low as $126.87 and last traded at $130.2380. Approximately 27,378 shares were traded during mid-day trading, a decline of 68% from the average daily volume of 86,821 shares. The stock had previously closed at $141.68.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of National Presto Industries from a “sell” rating to a “hold” rating in a research report on Sunday, March 22nd. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy”.

National Presto Industries Trading Down 6.1%

The company’s 50-day moving average price is $137.77 and its two-hundred day moving average price is $120.06. The company has a market cap of $953.29 million, a P/E ratio of 28.73 and a beta of 0.45.

National Presto Industries (NYSE:NPK) last posted its quarterly earnings data on Friday, March 13th. The conglomerate reported $2.10 earnings per share for the quarter. National Presto Industries had a net margin of 6.57% and a return on equity of 8.72%. The company had revenue of $163.97 million during the quarter.

National Presto Industries Dividend Announcement

The firm also recently disclosed an annual dividend, which was paid on Friday, March 20th. Stockholders of record on Monday, March 9th were given a dividend of $1.00 per share. The ex-dividend date was Monday, March 9th. This represents a dividend yield of 71.0%. National Presto Industries’s dividend payout ratio (DPR) is 21.60%.

Insider Activity at National Presto Industries

In other National Presto Industries news, Director Randy F. Lieble sold 2,417 shares of the firm’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $143.97, for a total value of $347,975.49. Following the completion of the transaction, the director directly owned 5,222 shares in the company, valued at $751,811.34. This trade represents a 31.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 28.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Kestra Advisory Services LLC acquired a new position in shares of National Presto Industries in the fourth quarter worth about $27,000. International Assets Investment Management LLC acquired a new position in shares of National Presto Industries in the fourth quarter worth about $32,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of National Presto Industries in the fourth quarter worth about $37,000. CIBC Private Wealth Group LLC acquired a new position in shares of National Presto Industries in the fourth quarter worth about $53,000. Finally, Nisa Investment Advisors LLC boosted its holdings in shares of National Presto Industries by 19.8% in the fourth quarter. Nisa Investment Advisors LLC now owns 594 shares of the conglomerate’s stock worth $63,000 after buying an additional 98 shares during the period. 58.57% of the stock is currently owned by institutional investors and hedge funds.

National Presto Industries Company Profile

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.