National Presto Industries, Inc. (NYSE:NPK) Sees Significant Drop in Short Interest

National Presto Industries, Inc. (NYSE:NPK) was the recipient of a significant decrease in short interest during the month of February. As of February 28th, there was short interest totalling 95,300 shares, a decrease of 17.0% from the February 13th total of 114,800 shares. Based on an average daily volume of 42,100 shares, the days-to-cover ratio is presently 2.3 days. Currently, 1.8% of the company’s stock are short sold.

Analyst Ratings Changes

Separately, StockNews.com raised National Presto Industries from a “hold” rating to a “buy” rating in a research report on Tuesday.

National Presto Industries Stock Performance

NYSE:NPK traded up $0.10 on Thursday, hitting $90.69. The stock had a trading volume of 3,474 shares, compared to its average volume of 38,911. National Presto Industries has a 1 year low of $69.58 and a 1 year high of $103.93. The firm’s fifty day simple moving average is $96.39 and its two-hundred day simple moving average is $85.99. The stock has a market cap of $643.86 million, a P/E ratio of 19.09 and a beta of 0.54.

National Presto Industries (NYSE:NPK) last issued its quarterly earnings results on Friday, March 14th. The conglomerate reported $2.91 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 $134.69 million during the quarter.

National Presto Industries Announces Dividend

The firm also recently announced an annual dividend, which was paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th were paid a dividend of $1.00 per share. This represents a dividend yield of 1%. The ex-dividend date was Tuesday, March 4th. National Presto Industries’s payout ratio is 17.21%.

Hedge Funds Weigh In On National Presto Industries

Several institutional investors have recently added to or reduced their stakes in NPK. Atria Investments Inc raised its position in National Presto Industries by 58.2% in the third quarter. Atria Investments Inc now owns 6,011 shares of the conglomerate’s stock worth $452,000 after acquiring an additional 2,211 shares during the period. GSA Capital Partners LLP purchased a new position in National Presto Industries in the third quarter valued at approximately $340,000. Algert Global LLC lifted its stake in National Presto Industries by 652.2% in the third quarter. Algert Global LLC now owns 21,234 shares of the conglomerate’s stock valued at $1,596,000 after purchasing an additional 18,411 shares during the last quarter. FMR LLC grew its holdings in National Presto Industries by 1,362.1% during the third quarter. FMR LLC now owns 6,331 shares of the conglomerate’s stock valued at $476,000 after purchasing an additional 5,898 shares during the period. Finally, Martingale Asset Management L P raised its stake in shares of National Presto Industries by 6.3% in the third quarter. Martingale Asset Management L P now owns 8,715 shares of the conglomerate’s stock valued at $655,000 after buying an additional 520 shares during the period. 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.