Neenah (NP) Upgraded to Hold at Zacks Investment Research

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Zacks Investment Research upgraded shares of Neenah (NYSE:NP) from a sell rating to a hold rating in a research note released on Saturday, July 28th.

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. “

NYSE NP opened at $88.95 on Friday. Neenah has a 12-month low of $75.50 and a 12-month high of $95.40. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.30 and a current ratio of 2.42. The company has a market capitalization of $1.48 billion, a PE ratio of 20.59, a price-to-earnings-growth ratio of 4.19 and a beta of 1.11.

Neenah (NYSE:NP) last posted its quarterly earnings results on Tuesday, August 7th. The basic materials company reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.06. The company had revenue of $271.30 million for the quarter, compared to analyst estimates of $275.50 million. Neenah had a net margin of 4.78% and a return on equity of 18.38%. research analysts predict that Neenah will post 4.21 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 5th. Investors of record on Friday, August 17th will be paid a dividend of $0.41 per share. The ex-dividend date is Thursday, August 16th. This represents a $1.64 annualized dividend and a yield of 1.84%. Neenah’s dividend payout ratio is currently 37.96%.

In other Neenah news, Director Sean T. Erwin sold 1,318 shares of the business’s stock in a transaction that occurred on Thursday, May 24th. The shares were sold at an average price of $82.88, for a total value of $109,235.84. Following the completion of the transaction, the director now owns 20,453 shares of the company’s stock, valued at approximately $1,695,144.64. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Matthew L. Duncan sold 498 shares of the business’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 transaction 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,084 shares of company stock valued at $176,554. 1.50% of the stock is owned by corporate insiders.

Large investors have recently bought and sold shares of the stock. Atwood & Palmer Inc. raised its holdings in Neenah by 184.6% during the 2nd quarter. Atwood & Palmer Inc. now owns 1,423 shares of the basic materials company’s stock valued at $121,000 after buying an additional 923 shares during the last quarter. Xact Kapitalforvaltning AB bought a new stake in Neenah during the 4th quarter valued at $205,000. Itau Unibanco Holding S.A. bought a new stake in Neenah during the 2nd quarter valued at $199,000. Everence Capital Management Inc. bought a new stake in Neenah during the 2nd quarter valued at $212,000. Finally, BB&T Securities LLC bought a new stake in Neenah during the 2nd quarter valued at $213,000. Institutional investors own 92.92% of the company’s stock.

Neenah Company Profile

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.

See Also: Price to Earnings Ratio (PE)

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