Norges Bank Acquires New Stake in National Presto Industries, Inc. (NYSE:NPK)

Norges Bank bought a new position in National Presto Industries, Inc. (NYSE:NPK) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 19,700 shares of the conglomerate’s stock, valued at approximately $1,939,000. Norges Bank owned approximately 0.28% of National Presto Industries at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of NPK. PNC Financial Services Group Inc. increased its position in shares of National Presto Industries by 50.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 362 shares of the conglomerate’s stock valued at $36,000 after acquiring an additional 121 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of National Presto Industries in the third quarter worth $75,000. Newbridge Financial Services Group Inc. purchased a new position in shares of National Presto Industries in the fourth quarter worth $79,000. US Bancorp DE lifted its holdings in shares of National Presto Industries by 11.6% during the fourth quarter. US Bancorp DE now owns 1,616 shares of the conglomerate’s stock valued at $159,000 after purchasing an additional 168 shares in the last quarter. Finally, Victory Capital Management Inc. purchased a new stake in shares of National Presto Industries during the fourth quarter valued at $243,000. 58.57% of the stock is currently owned by institutional investors.

National Presto Industries Stock Up 1.3 %

Shares of National Presto Industries stock opened at $84.19 on Friday. National Presto Industries, Inc. has a twelve month low of $69.58 and a twelve month high of $103.93. The company’s 50 day moving average is $92.28 and its 200 day moving average is $87.38. The company has a market cap of $601.33 million, a price-to-earnings ratio of 17.72 and a beta of 0.55.

National Presto Industries (NYSE:NPK) last released its quarterly earnings results on Friday, March 14th. The conglomerate reported $2.91 earnings per share for the quarter. The firm had revenue of $134.69 million for the quarter. National Presto Industries had a return on equity of 9.88% and a net margin of 9.63%.

National Presto Industries Announces Dividend

The firm also recently declared an annual dividend, which was paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th were given 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 currently 17.21%.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of National Presto Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, March 18th.

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.