Neenah (NYSE:NP) Upgraded to Strong-Buy by Zacks Investment Research

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Zacks Investment Research upgraded shares of Neenah (NYSE:NP) from a hold rating to a strong-buy rating in a research report report published on Saturday morning, Zacks.com reports. Zacks Investment Research currently has $84.00 target price on the basic materials company’s stock.

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 traded up $0.90 on Friday, reaching $73.55. 115,179 shares of the company’s stock were exchanged, compared to its average volume of 88,212. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.38 and a quick ratio of 1.28. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of 21.01 and a beta of 1.26. Neenah has a 52 week low of $56.67 and a 52 week high of $77.55. The stock has a fifty day simple moving average of $63.17 and a 200-day simple moving average of $63.62.

Neenah (NYSE:NP) last issued its earnings results on Tuesday, November 5th. The basic materials company reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.08. The firm had revenue of $231.80 million during the quarter, compared to analyst estimates of $246.50 million. Neenah had a net margin of 5.46% and a return on equity of 13.43%. The company’s quarterly revenue was down 9.5% on a year-over-year basis. During the same quarter last year, the business earned $0.76 earnings per share. As a group, sell-side analysts predict that Neenah 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 given a $0.45 dividend. 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 dividend payout ratio (DPR) is currently 51.43%.

In other news, SVP Julie Schertell sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $64.77, for a total value of $97,155.00. Following the completion of the transaction, the senior vice president now directly owns 6,226 shares in the company, valued at $403,258.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Byron Jason Racki sold 500 shares of the firm’s stock in a transaction that occurred 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 transaction, the senior vice president now owns 5,286 shares of the company’s stock, valued at $360,346.62. The disclosure for this sale can be found here. Insiders sold 48,817 shares of company stock valued at $3,268,254 over the last 90 days. 1.60% of the stock is owned by company insiders.

A number of institutional investors have recently made changes to their positions in NP. First Trust Advisors LP lifted its position in Neenah by 154.0% during the first quarter. First Trust Advisors LP now owns 13,060 shares of the basic materials company’s stock valued at $841,000 after purchasing an additional 7,918 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in 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 purchasing an additional 200 shares during the last quarter. 6 Meridian raised its stake 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 worth $499,000 after acquiring an additional 197 shares in the last quarter. Skyline Asset Management LP raised its stake in shares of Neenah by 5.9% during the second quarter. Skyline Asset Management LP now owns 117,800 shares of the basic materials company’s stock worth $7,957,000 after acquiring an additional 6,600 shares in the last quarter. Finally, Copeland Capital Management LLC raised its stake in shares of Neenah by 19.8% during the second quarter. Copeland Capital Management LLC now owns 220,693 shares of the basic materials company’s stock worth $14,908,000 after acquiring an additional 36,530 shares in the last quarter. Institutional investors and hedge funds own 92.62% of the company’s stock.

Neenah Company Profile

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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