National Presto Industries (NYSE:NPK) Announces Earnings Results

National Presto Industries (NYSE:NPK) released its earnings results on Friday. The conglomerate reported $2.79 earnings per share (EPS) for the quarter, FiscalAI reports. National Presto Industries had a return on equity of 10.83% and a net margin of 7.86%. The firm had revenue of $144.31 million during the quarter.

National Presto Industries Price Performance

Shares of NPK traded down $1.08 during midday trading on Friday, reaching $139.22. The stock had a trading volume of 51,467 shares, compared to its average volume of 121,709. National Presto Industries has a 1-year low of $91.28 and a 1-year high of $158.17. The company’s fifty day simple moving average is $148.52 and its two-hundred day simple moving average is $137.79. The company has a market cap of $994.03 million, a price-to-earnings ratio of 23.28 and a beta of 0.49.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on NPK. National Bank Financial set a $162.00 price target on National Presto Industries in a report on Wednesday, September 30th. Weiss Ratings upgraded National Presto Industries from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 8th. Wall Street Zen cut National Presto Industries from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Finally, Freedom Broker began coverage on National Presto Industries in a research report on Thursday, October 1st. They set a “hold” rating and a $162.00 price objective for the company. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, National Presto Industries presently has an average rating of “Moderate Buy” and an average price target of $162.00.

Hedge Funds Weigh In On National Presto Industries

Institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. purchased a new position in shares of National Presto Industries in the second quarter valued at $122,206,000. Medina Value Partners LLC acquired a new position in shares of National Presto Industries during the 2nd quarter worth $21,695,514. J. Goldman & Co LP acquired a new position in shares of National Presto Industries during the 2nd quarter worth $15,397,000. Bank of New York Mellon Corp acquired a new position in shares of National Presto Industries during the 2nd quarter worth $7,511,000. Finally, Martin & Co. Inc. TN purchased a new stake in shares of National Presto Industries in the 2nd quarter worth about $3,642,000. Institutional investors and hedge funds own 58.57% of the company’s stock.

National Presto Industries Company Profile

National Presto Industries, Inc. is a diversified manufacturer based in Eau Claire, Wisconsin. The company operates in housewares and small appliances, defense products, and safety products, serving consumer, commercial, and government markets. Its housewares business is known for Presto-branded pressure cookers, pressure canners, deep fryers, and other kitchen appliances. The defense business manufactures ordnance and related products, while its safety-products operations make absorbent materials used in personal-care and other applications.