First Manhattan Co. reduced its stake in Neenah Inc (NYSE:NP) by 10.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,060 shares of the basic materials company’s stock after selling 2,207 shares during the period. First Manhattan Co.’s holdings in Neenah were worth $1,162,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Bank of Montreal Can raised its holdings in Neenah by 12.8% in the 4th quarter. Bank of Montreal Can now owns 1,485 shares of the basic materials company’s stock valued at $87,000 after buying an additional 168 shares during the last quarter. Flinton Capital Management LLC raised its holdings in Neenah by 9.5% in the 4th quarter. Flinton Capital Management LLC now owns 2,400 shares of the basic materials company’s stock valued at $141,000 after buying an additional 208 shares during the last quarter. Legal & General Group Plc raised its holdings in Neenah by 0.5% in the 4th quarter. Legal & General Group Plc now owns 39,675 shares of the basic materials company’s stock valued at $2,331,000 after buying an additional 215 shares during the last quarter. Naples Global Advisors LLC raised its holdings in Neenah by 7.1% in the 4th quarter. Naples Global Advisors LLC now owns 3,905 shares of the basic materials company’s stock valued at $256,000 after buying an additional 260 shares during the last quarter. Finally, First Interstate Bank raised its holdings in Neenah by 31.2% in the 4th quarter. First Interstate Bank now owns 1,366 shares of the basic materials company’s stock valued at $80,000 after buying an additional 325 shares during the last quarter. Institutional investors own 94.39% of the company’s stock.
Shares of NYSE NP opened at $66.26 on Wednesday. The company has a market capitalization of $1.11 billion, a P/E ratio of 18.93, a price-to-earnings-growth ratio of 3.51 and a beta of 1.17. Neenah Inc has a 1 year low of $56.80 and a 1 year high of $96.15. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.30 and a quick ratio of 1.21.
Neenah (NYSE:NP) last issued its quarterly earnings data on Tuesday, February 12th. The basic materials company reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.09). The business had revenue of $240.90 million during the quarter, compared to the consensus estimate of $255.63 million. Neenah had a net margin of 3.52% and a return on equity of 15.03%. The firm’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same quarter last year, the business earned $1.06 EPS. Analysts forecast that Neenah Inc will post 3.76 earnings per share for the current fiscal year.
In other Neenah news, VP Larry Newton Brownlee sold 453 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $63.50, for a total transaction of $28,765.50. Following the completion of the transaction, the vice president now owns 5,166 shares in the company, valued at approximately $328,041. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John F. Mcgovern sold 4,155 shares of the firm’s stock in a transaction that occurred on Wednesday, February 20th. The stock was sold at an average price of $70.84, for a total transaction of $294,340.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,047 shares of company stock valued at $421,325. 1.50% of the stock is owned by company insiders.
A number of brokerages recently issued reports on NP. Zacks Investment Research upgraded shares of Neenah from a “sell” rating to a “hold” rating in a report on Wednesday. DA Davidson dropped their price objective on shares of Neenah to $77.00 and set a “positive” rating for the company in a report 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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