National Presto Industries (NYSE:NPK) Hits New 12-Month High – Time to Buy?

National Presto Industries, Inc. (NYSE:NPK)’s stock price reached a new 52-week high during trading on Friday . The stock traded as high as $121.14 and last traded at $119.3150, with a volume of 175806 shares changing hands. The stock had previously closed at $119.19.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on NPK. Wall Street Zen raised shares of National Presto Industries from a “sell” rating to a “hold” rating in a report on Saturday, January 10th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of National Presto Industries in a research report on Monday, December 29th. One research analyst has rated the stock with a Buy rating, According to MarketBeat, National Presto Industries has an average rating of “Buy”.

National Presto Industries Price Performance

The company has a market cap of $853.10 million, a PE ratio of 21.93 and a beta of 0.51. The stock’s 50-day moving average is $103.32 and its 200 day moving average is $106.09.

Institutional Investors Weigh In On National Presto Industries

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NPK. Nisa Investment Advisors LLC grew its stake in shares of National Presto Industries by 19.8% during the fourth quarter. Nisa Investment Advisors LLC now owns 594 shares of the conglomerate’s stock worth $63,000 after acquiring an additional 98 shares during the last quarter. Verition Fund Management LLC acquired a new stake in National Presto Industries in the 3rd quarter worth approximately $600,000. Millennium Management LLC purchased a new stake in National Presto Industries during the 3rd quarter worth approximately $5,757,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in National Presto Industries by 41.1% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 54,106 shares of the conglomerate’s stock valued at $6,068,000 after purchasing an additional 15,748 shares in the last quarter. Finally, Citadel Advisors LLC raised its holdings in shares of National Presto Industries by 64.8% in the third quarter. Citadel Advisors LLC now owns 19,051 shares of the conglomerate’s stock worth $2,137,000 after buying an additional 7,491 shares during the last quarter. 58.57% of the stock is currently owned by hedge funds and other institutional investors.

About National Presto Industries

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.