Prudential Financial Inc. raised its holdings in shares of Neenah Inc (NYSE:NP) by 2.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 29,203 shares of the basic materials company’s stock after purchasing an additional 701 shares during the quarter. Prudential Financial Inc. owned 0.17% of Neenah worth $1,721,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of NP. Quantamental Technologies LLC acquired a new position in shares of Neenah in the 4th quarter worth approximately $35,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Neenah by 46.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,166 shares of the basic materials company’s stock valued at $69,000 after acquiring an additional 372 shares in the last quarter. First Interstate Bank raised its stake in Neenah by 31.2% during the 4th quarter. First Interstate Bank now owns 1,366 shares of the basic materials company’s stock valued at $80,000 after acquiring an additional 325 shares in the last quarter. Bank of Montreal Can raised its stake in Neenah by 12.8% during the 4th quarter. Bank of Montreal Can now owns 1,485 shares of the basic materials company’s stock valued at $87,000 after acquiring an additional 168 shares in the last quarter. Finally, Quantbot Technologies LP bought a new stake in Neenah during the 3rd quarter valued at $170,000. Hedge funds and other institutional investors own 93.25% of the company’s stock.
In other news, VP Larry Newton Brownlee sold 453 shares of the business’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $63.50, for a total value of $28,765.50. Following the sale, the vice president now owns 5,166 shares of the company’s stock, valued at approximately $328,041. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John F. Mcgovern sold 4,155 shares of the business’s stock in a transaction on Wednesday, February 20th. The stock was sold at an average price of $70.84, for a total value of $294,340.20. The disclosure for this sale can be found here. Insiders sold a total of 11,263 shares of company stock worth $740,231 in the last three months. Company insiders own 1.50% of the company’s stock.
Neenah (NYSE:NP) last posted its quarterly earnings data on Tuesday, February 12th. The basic materials company reported $0.53 EPS for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.09). Neenah had a return on equity of 15.03% and a net margin of 3.52%. The firm had revenue of $240.90 million during the quarter, compared to the consensus estimate of $255.63 million. During the same period in the prior year, the firm posted $1.06 EPS. The firm’s quarterly revenue was down 1.3% on a year-over-year basis. On average, research analysts forecast that Neenah Inc will post 3.76 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 4th. Stockholders of record on Friday, February 15th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date of this dividend was Thursday, February 14th. This is an increase from Neenah’s previous quarterly dividend of $0.41. Neenah’s payout ratio is currently 51.43%.
Several analysts have weighed in on the company. TheStreet downgraded Neenah from a “b-” rating to a “c+” rating in a research note on Tuesday, November 27th. Zacks Investment Research downgraded Neenah from a “hold” rating to a “sell” rating in a research note on Saturday, February 16th. Finally, DA Davidson cut their target price on Neenah to $77.00 and set a “positive” rating on the stock in a research note on Wednesday, February 13th.
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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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