Raffles Associates LP Makes New Investment in NAPCO Security Technologies, Inc. $NSSC

Raffles Associates LP purchased a new stake in NAPCO Security Technologies, Inc. (NASDAQ:NSSC) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 24,424 shares of the industrial products company’s stock, valued at approximately $928,000. NAPCO Security Technologies comprises approximately 0.8% of Raffles Associates LP’s holdings, making the stock its 29th largest position. Raffles Associates LP owned about 0.07% of NAPCO Security Technologies as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in NSSC. IFP Advisors Inc boosted its holdings in NAPCO Security Technologies by 193.3% in the third quarter. IFP Advisors Inc now owns 572 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 377 shares during the last quarter. ProShare Advisors LLC lifted its position in shares of NAPCO Security Technologies by 6.9% in the 4th quarter. ProShare Advisors LLC now owns 6,313 shares of the industrial products company’s stock worth $263,000 after purchasing an additional 407 shares during the period. Legal & General Group Plc boosted its stake in shares of NAPCO Security Technologies by 1.0% in the 3rd quarter. Legal & General Group Plc now owns 43,937 shares of the industrial products company’s stock valued at $1,887,000 after purchasing an additional 430 shares during the last quarter. Alliancebernstein L.P. increased its position in shares of NAPCO Security Technologies by 1.3% during the third quarter. Alliancebernstein L.P. now owns 36,826 shares of the industrial products company’s stock worth $1,582,000 after buying an additional 474 shares during the period. Finally, Quantinno Capital Management LP increased its position in shares of NAPCO Security Technologies by 3.2% during the first quarter. Quantinno Capital Management LP now owns 19,464 shares of the industrial products company’s stock worth $767,000 after buying an additional 596 shares during the period. 85.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Benchmark restated a “buy” rating on shares of NAPCO Security Technologies in a report on Tuesday. TD Cowen reiterated a “buy” rating and set a $53.00 price target (up from $50.00) on shares of NAPCO Security Technologies in a report on Tuesday, May 5th. Weiss Ratings reissued a “hold (c)” rating on shares of NAPCO Security Technologies in a research report on Friday, August 7th. Needham & Company LLC reissued a “buy” rating and issued a $49.00 price objective on shares of NAPCO Security Technologies in a research report on Friday, August 21st. Finally, DA Davidson set a $52.00 price objective on NAPCO Security Technologies in a research note on Tuesday. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, NAPCO Security Technologies has a consensus rating of “Moderate Buy” and an average price target of $50.40.

NAPCO Security Technologies Stock Down 1.3%

Shares of NSSC stock opened at $35.28 on Friday. The firm has a 50 day moving average of $37.49 and a 200-day moving average of $39.85. The company has a market cap of $1.26 billion, a price-to-earnings ratio of 29.16 and a beta of 1.45. NAPCO Security Technologies, Inc. has a 52 week low of $33.91 and a 52 week high of $51.77.

NAPCO Security Technologies (NASDAQ:NSSC) last released its earnings results on Monday, August 24th. The industrial products company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.11. The company had revenue of $55.81 million for the quarter, compared to the consensus estimate of $52.51 million. NAPCO Security Technologies had a net margin of 21.27% and a return on equity of 31.41%. NAPCO Security Technologies’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.33 EPS. Analysts anticipate that NAPCO Security Technologies, Inc. will post 1.66 earnings per share for the current year.

NAPCO Security Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Friday, September 11th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.9%. This is an increase from NAPCO Security Technologies’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Friday, September 11th. NAPCO Security Technologies’s payout ratio is presently 56.20%.

NAPCO Security Technologies Profile

NAPCO Security Technologies, Inc (NASDAQ: NSSC) is a designer and manufacturer of electronic security solutions for commercial and residential applications. The company’s product portfolio spans intrusion and fire alarm control panels, alarm communicators, access control locks and readers, as well as a broad range of peripheral modules and integrated security accessories. NAPCO’s offerings are engineered to deliver scalable, networked security systems suitable for new installations and retrofit projects alike.

Key product lines include hybrid alarm control panels that support both wired and wireless peripherals, cellular and IP alarm communicators for reliable central station reporting, and the acclaimed “Alarm Lock” series of standalone and networked electronic door locks.