National Presto Industries (NYSE:NPK) Hits New 52-Week High After Dividend Announcement

National Presto Industries, Inc. (NYSE:NPK - Get Free Report) reached a new 52-week high during mid-day trading on Tuesday following a dividend announcement from the company. The stock traded as high as $103.10 and last traded at $102.91, with a volume of 31719 shares traded. The stock had previously closed at $98.62.

The newly announced dividend which will be paid on Monday, March 17th. Investors of record on Tuesday, March 4th will be paid a $1.00 dividend. This represents a yield of 1%. The ex-dividend date of this dividend is Tuesday, March 4th. National Presto Industries's dividend payout ratio is currently 21.05%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut National Presto Industries from a "buy" rating to a "hold" rating in a research note on Tuesday, December 3rd.

National Presto Industries Stock Up 0.3 %

The company has a 50-day moving average price of $97.67 and a two-hundred day moving average price of $84.20. The stock has a market capitalization of $723.10 million, a P/E ratio of 21.44 and a beta of 0.53.

Institutional Investors Weigh In On National Presto Industries

Hedge funds and other institutional investors have recently modified their holdings of the stock. 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 buying an additional 121 shares during the period. Wilmington Savings Fund Society FSB bought a new position in shares of National Presto Industries in the third quarter worth approximately $75,000. Newbridge Financial Services Group Inc. bought a new position in shares of National Presto Industries in the fourth quarter worth approximately $79,000. Lazard Asset Management LLC increased its position in shares of National Presto Industries by 64.6% in the fourth quarter. Lazard Asset Management LLC now owns 856 shares of the conglomerate's stock worth $84,000 after purchasing an additional 336 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. increased its position in shares of National Presto Industries by 190.8% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,483 shares of the conglomerate's stock worth $111,000 after purchasing an additional 973 shares during the last quarter. 58.57% of the stock is currently owned by institutional investors.

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National Presto Industries Company Profile

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.