National Presto Industries (NYSE:NPK) Lowered to “Buy” at StockNews.com

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

National Presto Industries Price Performance

NYSE:NPK traded up $0.10 during trading hours on Thursday, hitting $84.18. 16,336 shares of the company were exchanged, compared to its average volume of 34,719. National Presto Industries has a 52-week low of $68.82 and a 52-week high of $84.83. The stock has a market capitalization of $599.36 million, a price-to-earnings ratio of 17.30 and a beta of 0.59. The company’s 50 day moving average price is $79.89 and its 200-day moving average price is $79.10.

National Presto Industries (NYSE:NPK) last posted its quarterly earnings data on Tuesday, February 20th. The conglomerate reported $1.85 EPS for the quarter. The business had revenue of $98.42 million during the quarter. National Presto Industries had a net margin of 30.35% and a return on equity of 29.68%.

National Presto Industries Dividend Announcement

The company also recently disclosed an annual dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a $1.00 dividend. This represents a dividend yield of 1.28%. The ex-dividend date was Thursday, February 29th. National Presto Industries’s dividend payout ratio is presently 20.58%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Amalgamated Bank increased its holdings in National Presto Industries by 12.1% in the 3rd quarter. Amalgamated Bank now owns 2,154 shares of the conglomerate’s stock worth $156,000 after buying an additional 232 shares during the period. Fortis Group Advisors LLC acquired a new stake in shares of National Presto Industries in the first quarter worth $212,000. Louisiana State Employees Retirement System purchased a new position in shares of National Presto Industries during the fourth quarter worth $209,000. Yousif Capital Management LLC acquired a new position in National Presto Industries during the fourth quarter valued at $210,000. Finally, Illinois Municipal Retirement Fund acquired a new position in National Presto Industries during the third quarter valued at $230,000. 58.57% of the stock is currently owned by hedge funds and other institutional investors.

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.