Shares of Neenah Inc (NYSE:NP) have been given a consensus broker rating score of 3.00 (Hold) from the two brokers that provide coverage for the stock, Zacks Investment Research reports. Two analysts have rated the stock with a hold rating.
Brokers have set a one year consensus target price of $80.50 for the company and are expecting that the company will post $1.23 earnings per share for the current quarter, according to Zacks. Zacks has also given Neenah an industry rank of 44 out of 265 based on the ratings given to its competitors.
NP has been the subject of several recent analyst reports. Zacks Investment Research raised Neenah from a “hold” rating to a “buy” rating and set a $104.00 price target for the company in a report on Tuesday, January 16th. DA Davidson reaffirmed a “neutral” rating on shares of Neenah in a report on Thursday, November 9th.
Shares of Neenah (NP) traded up $0.70 during midday trading on Tuesday, reaching $79.95. The company’s stock had a trading volume of 81,381 shares, compared to its average volume of 77,487. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.14 and a current ratio of 2.29. The firm has a market capitalization of $1,332.86, a P/E ratio of 17.08, a PEG ratio of 3.43 and a beta of 1.17. Neenah has a fifty-two week low of $72.35 and a fifty-two week high of $95.40.
Neenah (NYSE:NP) last issued its quarterly earnings results on Wednesday, February 14th. The basic materials company reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.15. The business had revenue of $244.00 million during the quarter, compared to the consensus estimate of $233.85 million. Neenah had a return on equity of 19.49% and a net margin of 8.19%. The company’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter last year, the company earned $1.10 earnings per share. analysts expect that Neenah will post 4.63 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 2nd. Investors of record on Friday, February 16th will be given a dividend of $0.41 per share. This is a boost from Neenah’s previous quarterly dividend of $0.37. This represents a $1.64 annualized dividend and a yield of 2.05%. The ex-dividend date of this dividend is Thursday, February 15th. Neenah’s dividend payout ratio (DPR) is currently 34.97%.
Neenah declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, November 29th that authorizes the company to buyback $25.00 million in shares. This buyback authorization authorizes the basic materials company to purchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management 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 value of $161,798.78. Following the completion of the sale, the insider now directly owns 78,773 shares in the company, valued at $7,053,334.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Timothy S. Lucas sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $87.90, for a total value of $175,800.00. Following the completion of the sale, the director now owns 15,693 shares of the company’s stock, valued at $1,379,414.70. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,456 shares of company stock valued at $1,775,430. 2.00% of the stock is owned by company insiders.
Several institutional investors have recently bought and sold shares of NP. New York State Common Retirement Fund increased its position in shares of Neenah by 72.2% in the second quarter. New York State Common Retirement Fund now owns 30,487 shares of the basic materials company’s stock valued at $2,447,000 after buying an additional 12,786 shares in the last quarter. UBS Asset Management Americas Inc. increased its position in shares of Neenah by 75.7% in the second quarter. UBS Asset Management Americas Inc. now owns 6,595 shares of the basic materials company’s stock valued at $529,000 after buying an additional 2,842 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Neenah by 1.5% in the second quarter. Vanguard Group Inc. now owns 910,945 shares of the basic materials company’s stock valued at $73,103,000 after buying an additional 13,120 shares in the last quarter. California Public Employees Retirement System increased its position in shares of Neenah by 1.9% in the second quarter. California Public Employees Retirement System now owns 38,300 shares of the basic materials company’s stock valued at $3,074,000 after buying an additional 700 shares in the last quarter. Finally, Parametric Portfolio Associates LLC increased its position in shares of Neenah by 2.5% in the second quarter. Parametric Portfolio Associates LLC now owns 57,781 shares of the basic materials company’s stock valued at $4,637,000 after buying an additional 1,430 shares in the last quarter. Institutional investors and hedge funds own 89.73% of the company’s stock.
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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