Nuveen Asset Management LLC boosted its position in Neenah Inc (NYSE:NP) by 3.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 70,843 shares of the basic materials company’s stock after acquiring an additional 2,446 shares during the quarter. Nuveen Asset Management LLC owned 0.42% of Neenah worth $3,056,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Point72 Hong Kong Ltd bought a new position in Neenah in the fourth quarter valued at approximately $25,000. Advisor Group Inc. boosted its position in Neenah by 14.3% in the fourth quarter. Advisor Group Inc. now owns 2,208 shares of the basic materials company’s stock valued at $157,000 after buying an additional 277 shares in the last quarter. Bank of Montreal Can boosted its position in Neenah by 25.5% in the fourth quarter. Bank of Montreal Can now owns 2,901 shares of the basic materials company’s stock valued at $204,000 after buying an additional 590 shares in the last quarter. Amalgamated Bank acquired a new stake in Neenah in the fourth quarter valued at approximately $226,000. Finally, Laurion Capital Management LP acquired a new stake in Neenah in the fourth quarter valued at approximately $261,000. 90.48% of the stock is currently owned by institutional investors and hedge funds.
In other news, CFO Paul F. Desantis bought 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The shares were acquired at an average price of $49.63 per share, for a total transaction of $297,780.00. Following the completion of the acquisition, the chief financial officer now directly owns 14,942 shares in the company, valued at $741,571.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.60% of the stock is currently owned by insiders.
Shares of NYSE:NP opened at $48.79 on Wednesday. The firm has a market cap of $780.64 million, a PE ratio of 13.82 and a beta of 1.41. The firm’s fifty day moving average is $50.44 and its 200-day moving average is $55.80. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.90 and a current ratio of 3.08. Neenah Inc has a 52 week low of $33.44 and a 52 week high of $77.55.
Neenah (NYSE:NP) last issued its quarterly earnings results on Friday, May 8th. The basic materials company reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.20. The company had revenue of $233.60 million for the quarter. Neenah had a net margin of 6.43% and a return on equity of 16.26%. During the same quarter last year, the firm posted $0.69 EPS. Sell-side analysts forecast that Neenah Inc will post 1.45 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 2nd. Stockholders of record on Friday, May 15th were issued a dividend of $0.47 per share. The ex-dividend date was Thursday, May 14th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.85%. Neenah’s dividend payout ratio (DPR) is presently 54.18%.
NP has been the topic of a number of research analyst reports. Zacks Investment Research lowered shares of Neenah from a “hold” rating to a “sell” rating in a research report on Tuesday, May 12th. DA Davidson cut their target price on shares of Neenah to $62.00 and set a “buy” rating on the stock in a research report on Wednesday, April 15th. Finally, Sidoti lowered shares of Neenah from a “buy” rating to a “neutral” rating and set a $55.00 target price on the stock. in a research report on Thursday, May 28th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $67.00.
Neenah Company Profile
Neenah, Inc produces and sells technical products, and fine paper and packaging products worldwide. Its Technical Products segment offers filtration media for transportation, water, and other uses; saturated and unsaturated crepe, and flat paper tapes; and coated lightweight abrasive papers for automotive, construction, metal, and woodworking industries.
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