Neenah Inc (NYSE:NP) – DA Davidson decreased their Q2 2018 earnings per share estimates for Neenah in a report released on Thursday. DA Davidson analyst S. Chercover now expects that the basic materials company will post earnings of $1.10 per share for the quarter, down from their prior estimate of $1.31. DA Davidson has a “Neutral” rating on the stock. DA Davidson also issued estimates for Neenah’s Q3 2018 earnings at $1.15 EPS, FY2018 earnings at $4.40 EPS and FY2019 earnings at $5.11 EPS.
Neenah (NYSE:NP) last posted its earnings results on Wednesday, February 14th. The basic materials company reported $1.06 EPS for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.15. Neenah had a return on equity of 19.49% and a net margin of 8.19%. The firm had revenue of $244.00 million for the quarter, compared to analysts’ expectations of $233.85 million. During the same period last year, the firm earned $1.10 EPS. The company’s quarterly revenue was up 10.7% on a year-over-year basis.
Separately, Zacks Investment Research upgraded Neenah from a “hold” rating to a “buy” rating and set a $104.00 price objective on the stock in a report on Tuesday, January 16th.
Shares of Neenah (NYSE NP) opened at $79.60 on Monday. The company has a quick ratio of 1.14, a current ratio of 2.29 and a debt-to-equity ratio of 0.64. Neenah has a twelve month low of $72.35 and a twelve month high of $95.40. The stock has a market capitalization of $1,332.86, a PE ratio of 18.30, a P/E/G ratio of 3.43 and a beta of 1.18.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 2nd. Investors of record on Friday, February 16th will be issued a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 2.06%. This is a boost from Neenah’s previous quarterly dividend of $0.37. The ex-dividend date is Thursday, February 15th. Neenah’s payout ratio is presently 34.97%.
Neenah announced that its Board of Directors has initiated a share repurchase plan on Wednesday, November 29th that permits the company to repurchase $25.00 million in outstanding shares. This repurchase authorization permits the basic materials company to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
In other news, insider John P. O’donnell sold 1,807 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $89.54, for a total transaction of $161,798.78. Following the transaction, the insider now directly owns 78,773 shares in the company, valued at approximately $7,053,334.42. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider John P. O’donnell sold 5,424 shares of the business’s stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $91.50, for a total value of $496,296.00. Following the transaction, the insider now owns 82,390 shares in the company, valued at $7,538,685. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,456 shares of company stock worth $1,775,430. 2.00% of the stock is currently owned by insiders.
Institutional investors have recently modified their holdings of the company. MetLife Investment Advisors LLC purchased a new stake in shares of Neenah during the 4th quarter valued at approximately $702,000. Macquarie Group Ltd. raised its position in Neenah by 7.7% in the fourth quarter. Macquarie Group Ltd. now owns 705,779 shares of the basic materials company’s stock valued at $63,979,000 after purchasing an additional 50,240 shares during the period. Vident Investment Advisory LLC purchased a new stake in Neenah in the fourth quarter valued at approximately $228,000. Teachers Advisors LLC raised its position in Neenah by 2.2% in the fourth quarter. Teachers Advisors LLC now owns 30,269 shares of the basic materials company’s stock valued at $2,744,000 after purchasing an additional 642 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in Neenah by 15.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 72,197 shares of the basic materials company’s stock valued at $6,544,000 after purchasing an additional 9,913 shares during the period. Institutional investors and hedge funds own 89.73% of the company’s stock.
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Neenah, Inc, formerly Neenah Paper, Inc, is a materials company focused in niche markets. The Company has two primary businesses: technical products, and fine paper and packaging. The technical products business is an international producer of transportation, water and other filtration media, digital transfer materials, tape and abrasive backings, labels and other performance-oriented substrates.
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