Rhumbline Advisers grew its position in shares of Neenah Inc (NYSE:NP) by 11.6% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 55,682 shares of the basic materials company’s stock after buying an additional 5,775 shares during the quarter. Rhumbline Advisers owned 0.33% of Neenah worth $4,805,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also recently bought and sold shares of the company. Motley Fool Wealth Management LLC bought a new position in shares of Neenah in the third quarter worth approximately $204,000. Princeton Portfolio Strategies Group LLC bought a new position in shares of Neenah in the third quarter worth approximately $207,000. Parallel Advisors LLC bought a new position in shares of Neenah in the third quarter worth approximately $143,000. First Trust Advisors LP lifted its stake in shares of Neenah by 23.0% in the third quarter. First Trust Advisors LP now owns 54,647 shares of the basic materials company’s stock worth $4,716,000 after buying an additional 10,212 shares in the last quarter. Finally, Confluence Investment Management LLC bought a new position in shares of Neenah in the third quarter worth approximately $5,426,000. 92.18% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Neenah stock opened at $63.47 on Friday. The company has a market cap of $1.09 billion, a P/E ratio of 16.02, a P/E/G ratio of 3.59 and a beta of 1.03. Neenah Inc has a twelve month low of $63.22 and a twelve month high of $96.15. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.20 and a current ratio of 2.24.
Neenah (NYSE:NP) last issued its quarterly earnings data on Tuesday, November 6th. The basic materials company reported $0.76 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.06 by ($0.30). The company had revenue of $256.00 million for the quarter, compared to the consensus estimate of $270.25 million. Neenah had a net margin of 4.08% and a return on equity of 17.26%. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter last year, the company earned $1.02 EPS. On average, research analysts anticipate that Neenah Inc will post 3.61 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, December 3rd. Investors of record on Friday, November 16th were given a dividend of $0.41 per share. The ex-dividend date of this dividend was Thursday, November 15th. This represents a $1.64 dividend on an annualized basis and a yield of 2.58%. Neenah’s dividend payout ratio (DPR) is 37.96%.
In other Neenah news, Director Margaret S. Dano sold 2,488 shares of the stock in a transaction that occurred on Tuesday, November 13th. The shares were sold at an average price of $71.97, for a total value of $179,061.36. Following the transaction, the director now directly owns 2,498 shares in the company, valued at $179,781.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Larry Newton Brownlee sold 278 shares of the stock in a transaction that occurred on Monday, September 10th. The stock was sold at an average price of $91.90, for a total transaction of $25,548.20. Following the completion of the transaction, the vice president now owns 3,338 shares in the company, valued at $306,762.20. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.
NP has been the topic of several analyst reports. Zacks Investment Research upgraded shares of Neenah from a “sell” rating to a “hold” rating in a research note on Wednesday, October 10th. TheStreet downgraded shares of Neenah from a “b-” rating to a “c+” rating in a research report on Tuesday, November 27th. Finally, ValuEngine downgraded shares of Neenah from a “buy” rating to a “hold” rating in a research report on Thursday, September 27th.
Neenah, Inc produces and sells technical products, and fine paper and packaging products worldwide. The company's Technical Products segment offers filtration media for transportation, water, and other uses; saturated and unsaturated crepe, and flat paper tapes to manufacturers; and coated lightweight abrasive paper for automotive, construction, metal, and woodworking industries.
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