National Presto Industries, Inc. (NYSE:NPK)
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The Company operates in three segments, Housewares/Small Appliance, designs housewares and electrical appliances, Defense Products segment, manufactures mechanical assemblies and Absorbent Products segment manufactures diapers and adult products.
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NPK's prez owns over 25% of the shares, but has a modest salary. The special dividend they've been awarding for a while now is where she gets her real money every year, so I don't think its going to go away any time soon. The DoD is always gonna need more ammo, and NPK's new-ish contract with the DoD is good through 2015, so I'm comfortable with that. And as Boomers get older more of them are gonna need adult diapers, and NPK has started broadening their customer base for their Absorbent division, so that's got good prospects. It's an eclectic mix of products they produce, to be sure, but as I'm focused on getting the best, safest dividends I can get, I figured its worth a 3% place in my portfolio, so I just bought some today with the market being down as it was. The P/E is nice and low right now, too, so pluses there. A hidden gem, IMHO...