Zacks Investment Research upgraded shares of Neenah (NYSE:NP) from a sell rating to a hold rating in a research report released on Wednesday.
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. “
Other research analysts have also issued research reports about the company. ValuEngine raised Neenah from a hold rating to a buy rating in a report on Wednesday, August 8th. DA Davidson reissued a neutral rating on shares of Neenah in a report on Wednesday, August 8th.
Shares of NYSE NP opened at $76.60 on Wednesday. Neenah has a 12 month low of $75.50 and a 12 month high of $96.15. The company has a quick ratio of 1.30, a current ratio of 2.42 and a debt-to-equity ratio of 0.64. The stock has a market cap of $1.45 billion, a PE ratio of 17.73, a price-to-earnings-growth ratio of 4.09 and a beta of 1.06.
Neenah (NYSE:NP) last issued its quarterly earnings data on Tuesday, August 7th. The basic materials company reported $1.18 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.12 by $0.06. Neenah had a return on equity of 18.38% and a net margin of 4.78%. The company had revenue of $271.30 million during the quarter, compared to analyst estimates of $275.50 million. Sell-side analysts anticipate that Neenah will post 4.22 EPS for the current year.
In other Neenah news, SVP Matthew L. Duncan sold 498 shares of the company’s stock in a transaction that occurred on Wednesday, August 8th. The stock was sold at an average price of $90.00, for a total value of $44,820.00. Following the completion of the sale, the senior vice president now owns 2,041 shares of the company’s stock, valued at $183,690. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Larry Newton Brownlee sold 892 shares of the company’s stock in a transaction that occurred on Tuesday, August 14th. The stock was sold at an average price of $88.79, for a total value of $79,200.68. Following the completion of the sale, the vice president now directly owns 3,952 shares of the company’s stock, valued at approximately $350,898.08. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,224 shares of company stock valued at $467,967. 1.50% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of NP. Schwab Charles Investment Management Inc. boosted its stake in Neenah by 1.7% in the first quarter. Schwab Charles Investment Management Inc. now owns 119,727 shares of the basic materials company’s stock worth $9,387,000 after buying an additional 1,971 shares in the last quarter. BlackRock Inc. boosted its stake in Neenah by 2.5% in the first quarter. BlackRock Inc. now owns 2,187,747 shares of the basic materials company’s stock worth $171,518,000 after buying an additional 53,157 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Neenah by 8.5% in the first quarter. JPMorgan Chase & Co. now owns 37,902 shares of the basic materials company’s stock worth $2,972,000 after buying an additional 2,971 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Neenah by 2.0% during the first quarter. Dimensional Fund Advisors LP now owns 730,253 shares of the basic materials company’s stock valued at $57,252,000 after purchasing an additional 14,554 shares during the period. Finally, Russell Investments Group Ltd. boosted its stake in shares of Neenah by 3.1% during the first quarter. Russell Investments Group Ltd. now owns 100,394 shares of the basic materials company’s stock valued at $7,870,000 after purchasing an additional 3,011 shares during the period. 92.82% of the stock is owned by institutional investors and hedge funds.
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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