Nuveen Asset Management LLC acquired a new stake in shares of Neenah Inc (NYSE:NP) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 70,056 shares of the basic materials company’s stock, valued at approximately $4,732,000. Nuveen Asset Management LLC owned about 0.42% of Neenah as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of NP. Arizona State Retirement System grew its holdings in Neenah by 0.6% during the 2nd quarter. Arizona State Retirement System now owns 26,164 shares of the basic materials company’s stock worth $1,767,000 after acquiring an additional 155 shares in the last quarter. Aperio Group LLC lifted its position in shares of Neenah by 1.4% during the second quarter. Aperio Group LLC now owns 11,598 shares of the basic materials company’s stock valued at $783,000 after buying an additional 159 shares during the last quarter. Signaturefd LLC lifted its position in shares of Neenah by 51.4% during the second quarter. Signaturefd LLC now owns 477 shares of the basic materials company’s stock valued at $32,000 after buying an additional 162 shares during the last quarter. 6 Meridian lifted its position in shares of Neenah by 2.7% during the second quarter. 6 Meridian now owns 7,394 shares of the basic materials company’s stock valued at $499,000 after buying an additional 197 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its position in shares of Neenah by 4.9% during the second quarter. Nisa Investment Advisors LLC now owns 4,250 shares of the basic materials company’s stock valued at $287,000 after buying an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 92.62% of the company’s stock.
Shares of Neenah stock traded up $0.90 during midday trading on Friday, hitting $73.55. The company had a trading volume of 115,179 shares, compared to its average volume of 88,212. Neenah Inc has a 12-month low of $56.67 and a 12-month high of $77.55. The company has a quick ratio of 1.28, a current ratio of 2.38 and a debt-to-equity ratio of 0.58. The stock has a market cap of $1.14 billion, a price-to-earnings ratio of 21.01 and a beta of 1.26. The company has a fifty day simple moving average of $63.17 and a 200 day simple moving average of $63.62.
Neenah (NYSE:NP) last posted its quarterly earnings results on Tuesday, November 5th. The basic materials company reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.08. Neenah had a net margin of 5.46% and a return on equity of 13.43%. The company had revenue of $231.80 million during the quarter, compared to analyst estimates of $246.50 million. During the same period last year, the firm posted $0.76 EPS. Neenah’s revenue for the quarter was down 9.5% compared to the same quarter last year. As a group, analysts expect that Neenah Inc will post 3.19 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Friday, November 15th will be paid a dividend of $0.45 per share. The ex-dividend date is Thursday, November 14th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.45%. Neenah’s payout ratio is 51.43%.
Separately, Zacks Investment Research raised shares of Neenah from a “hold” rating to a “strong-buy” rating and set a $84.00 price objective for the company in a research report on Saturday.
In related news, CFO Bonnie Cruickshank Lind sold 1,172 shares of Neenah stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $66.84, for a total value of $78,336.48. Following the sale, the chief financial officer now owns 21,545 shares of the company’s stock, valued at approximately $1,440,067.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Byron Jason Racki sold 500 shares of Neenah stock in a transaction on Friday, September 13th. The shares were sold at an average price of $68.17, for a total transaction of $34,085.00. Following the completion of the sale, the senior vice president now directly owns 5,286 shares in the company, valued at approximately $360,346.62. The disclosure for this sale can be found here. Insiders have sold a total of 48,817 shares of company stock worth $3,268,254 in the last ninety days. Corporate insiders own 1.60% of the company’s stock.
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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