Zacks Investment Research lowered shares of Neenah (NYSE:NP) from a hold rating to a sell rating in a report published on Tuesday morning.
According to Zacks, “Neenah is a leading global specialty materials company, focused on premium niche markets that include advanced filtration media, specialized substrates used for tapes, labels and other products, and premium printing and packaging papers. The company is headquartered in Alpharetta, Georgia and its products are sold in over 70 countries worldwide from manufacturing operations in the United States and Germany. “
Separately, DA Davidson reissued a neutral rating on shares of Neenah in a report on Thursday, November 9th.
Shares of Neenah (NYSE:NP) opened at $79.70 on Tuesday. Neenah has a fifty-two week low of $72.35 and a fifty-two week high of $95.40. The stock has a market cap of $1,340.00, a PE ratio of 17.03, a PEG ratio of 3.43 and a beta of 1.18. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.29 and a quick ratio of 1.14.
Neenah (NYSE:NP) last announced its quarterly earnings results on Wednesday, February 14th. The basic materials company reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.15. Neenah had a net margin of 8.19% and a return on equity of 19.49%. The firm had revenue of $244.00 million for the quarter, compared to the consensus estimate of $233.85 million. During the same period in the prior year, the firm posted $1.10 earnings per share. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. research analysts predict that Neenah will post 4.63 EPS for the current year.
Neenah announced that its Board of Directors has initiated a share repurchase program on Wednesday, November 29th that permits the company to repurchase $25.00 million in outstanding shares. This repurchase authorization permits the basic materials company to purchase shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 2nd. Stockholders of record on Friday, February 16th will be issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.06%. This is an increase from Neenah’s previous quarterly dividend of $0.37. The ex-dividend date is Thursday, February 15th. Neenah’s dividend payout ratio is presently 35.04%.
In related news, Director Timothy S. Lucas sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $87.90, for a total value of $175,800.00. Following the transaction, the director now directly owns 15,693 shares in the company, valued at $1,379,414.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider John P. O’donnell sold 3,914 shares of the company’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $89.66, for a total transaction of $350,929.24. Following the completion of the transaction, the insider now owns 80,880 shares in the company, valued at $7,251,700.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 19,456 shares of company stock worth $1,775,430. Insiders own 2.00% of the company’s stock.
Several hedge funds have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company increased its position in shares of Neenah by 1.1% in the second quarter. The Manufacturers Life Insurance Company now owns 13,092 shares of the basic materials company’s stock worth $1,051,000 after purchasing an additional 148 shares during the last quarter. California Public Employees Retirement System increased its position in shares of Neenah by 1.5% in the fourth quarter. California Public Employees Retirement System now owns 39,077 shares of the basic materials company’s stock worth $3,542,000 after purchasing an additional 586 shares during the last quarter. US Bancorp DE increased its position in shares of Neenah by 115.7% in the fourth quarter. US Bancorp DE now owns 1,152 shares of the basic materials company’s stock worth $104,000 after purchasing an additional 618 shares during the last quarter. Teachers Advisors LLC increased its position in shares of Neenah by 2.2% in the fourth quarter. Teachers Advisors LLC now owns 30,269 shares of the basic materials company’s stock worth $2,744,000 after purchasing an additional 642 shares during the last quarter. Finally, American International Group Inc. increased its position in shares of Neenah by 5.7% in the third quarter. American International Group Inc. now owns 13,196 shares of the basic materials company’s stock worth $1,129,000 after purchasing an additional 716 shares during the last quarter. Institutional investors own 89.73% of the company’s stock.
Neenah Company Profile
Neenah, Inc, formerly Neenah Paper, Inc, is a materials company focused in niche markets. The Company has two primary businesses: technical products, and fine paper and packaging. The technical products business is an international producer of transportation, water and other filtration media, digital transfer materials, tape and abrasive backings, labels and other performance-oriented substrates.
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