Neenah (NYSE:NP) Trading 0.9% Higher

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Neenah Inc (NYSE:NP) shares were up 0.9% during mid-day trading on Wednesday . The company traded as high as $38.88 and last traded at $38.89, approximately 4,268 shares changed hands during mid-day trading. A decline of 97% from the average daily volume of 159,253 shares. The stock had previously closed at $38.54.

A number of equities research analysts have recently weighed in on NP shares. Zacks Investment Research downgraded Neenah from a “hold” rating to a “sell” rating in a report on Wednesday, March 18th. ValuEngine upgraded Neenah from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. Finally, DA Davidson upgraded Neenah from a “neutral” rating to a “buy” rating and set a $70.00 price target for the company in a report on Friday, March 6th.

The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.29 and a current ratio of 2.52. The firm has a market capitalization of $649.32 million, a P/E ratio of 12.21 and a beta of 1.34. The stock has a fifty day moving average price of $56.35 and a two-hundred day moving average price of $64.67.

Neenah (NYSE:NP) last issued its quarterly earnings results on Tuesday, February 18th. The basic materials company reported $0.87 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.07. Neenah had a return on equity of 14.64% and a net margin of 5.90%. The business had revenue of $213.60 million during the quarter, compared to the consensus estimate of $223.00 million. During the same period in the previous year, the business earned $0.53 EPS. The business’s quarterly revenue was down 11.3% on a year-over-year basis. As a group, research analysts anticipate that Neenah Inc will post 3.71 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 3rd. Stockholders of record on Friday, February 14th were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 4.74%. This is an increase from Neenah’s previous quarterly dividend of $0.45. The ex-dividend date was Thursday, February 13th. Neenah’s payout ratio is 54.18%.

In related news, CEO John P. O’donnell sold 15,229 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $68.01, for a total transaction of $1,035,724.29. Following the completion of the transaction, the chief executive officer now directly owns 30,379 shares in the company, valued at approximately $2,066,075.79. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO John P. O’donnell sold 7,728 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $69.71, for a total value of $538,718.88. Following the transaction, the chief executive officer now owns 69,248 shares of the company’s stock, valued at $4,827,278.08. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of NP. Barclays PLC grew its stake in shares of Neenah by 21.6% in the third quarter. Barclays PLC now owns 35,927 shares of the basic materials company’s stock worth $2,341,000 after purchasing an additional 6,392 shares in the last quarter. Citigroup Inc. lifted its holdings in shares of Neenah by 145.0% in the fourth quarter. Citigroup Inc. now owns 18,964 shares of the basic materials company’s stock valued at $1,335,000 after buying an additional 11,225 shares during the period. Squarepoint Ops LLC lifted its holdings in shares of Neenah by 222.3% in the third quarter. Squarepoint Ops LLC now owns 41,188 shares of the basic materials company’s stock valued at $2,682,000 after buying an additional 28,407 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Neenah by 2.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 168,894 shares of the basic materials company’s stock valued at $11,896,000 after buying an additional 3,974 shares during the period. Finally, Great West Life Assurance Co. Can acquired a new stake in shares of Neenah in the fourth quarter valued at $1,493,000. Hedge funds and other institutional investors own 92.51% of the company’s stock.

About Neenah (NYSE:NP)

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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