Copeland Capital Management LLC cut its holdings in Neenah Inc (NYSE:NP) by 15.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 167,313 shares of the basic materials company’s stock after selling 31,069 shares during the period. Copeland Capital Management LLC’s holdings in Neenah were worth $14,439,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of NP. Atwood & Palmer Inc. increased its holdings in Neenah by 184.6% during the second quarter. Atwood & Palmer Inc. now owns 1,423 shares of the basic materials company’s stock worth $121,000 after buying an additional 923 shares during the last quarter. Parallel Advisors LLC acquired a new position in Neenah during the third quarter worth $143,000. Itau Unibanco Holding S.A. acquired a new position in Neenah during the second quarter worth $199,000. Everence Capital Management Inc. acquired a new position in Neenah during the second quarter worth $212,000. Finally, BB&T Securities LLC acquired a new position in Neenah during the second quarter worth $213,000. Institutional investors own 93.46% of the company’s stock.
In other Neenah news, SVP Matthew L. Duncan sold 498 shares of the company’s stock in a transaction on Wednesday, August 8th. The shares were sold at an average price of $90.00, for a total value of $44,820.00. Following the transaction, the senior vice president now directly owns 2,041 shares in the company, valued at $183,690. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Larry Newton Brownlee sold 892 shares of the company’s stock in a transaction on Tuesday, August 14th. The shares were sold at an average price of $88.79, for a total transaction of $79,200.68. Following the completion of the transaction, the vice president now owns 3,952 shares in the company, valued at $350,898.08. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,224 shares of company stock worth $467,967. Corporate insiders own 2.00% of the company’s stock.
A number of equities analysts recently weighed in on NP shares. Zacks Investment Research upgraded shares of Neenah from a “sell” rating to a “hold” rating in a report on Wednesday, October 10th. ValuEngine upgraded shares of Neenah from a “hold” rating to a “buy” rating in a report on Wednesday, August 8th. Finally, DA Davidson restated a “neutral” rating on shares of Neenah in a report on Wednesday, August 8th.
NYSE:NP opened at $82.80 on Monday. Neenah Inc has a one year low of $75.50 and a one year high of $96.15. The firm has a market capitalization of $1.39 billion, a price-to-earnings ratio of 19.17, a P/E/G ratio of 3.92 and a beta of 1.07. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.30 and a current ratio of 2.42.
Neenah (NYSE:NP) last released its quarterly earnings data on Tuesday, August 7th. The basic materials company reported $1.18 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.12 by $0.06. Neenah had a net margin of 4.78% and a return on equity of 18.38%. The firm had revenue of $271.30 million for the quarter, compared to the consensus estimate of $275.50 million. On average, analysts predict that Neenah Inc will post 4.22 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 3rd. Shareholders of record on Friday, November 16th will be issued a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 1.98%. Neenah’s dividend payout ratio is currently 37.96%.
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.
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