First Bank & Trust lowered its position in shares of Neenah Inc (NYSE:NP) by 7.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,158 shares of the basic materials company’s stock after selling 347 shares during the quarter. First Bank & Trust’s holdings in Neenah were worth $268,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in NP. Bank of New York Mellon Corp boosted its position in shares of Neenah by 5.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 286,595 shares of the basic materials company’s stock valued at $24,732,000 after purchasing an additional 14,662 shares during the period. BlackRock Inc. boosted its position in shares of Neenah by 3.2% in the 3rd quarter. BlackRock Inc. now owns 2,417,091 shares of the basic materials company’s stock valued at $208,596,000 after purchasing an additional 75,105 shares during the period. FMR LLC boosted its position in shares of Neenah by 0.5% in the 3rd quarter. FMR LLC now owns 403,544 shares of the basic materials company’s stock valued at $34,826,000 after purchasing an additional 2,019 shares during the period. Paloma Partners Management Co acquired a new position in shares of Neenah in the 3rd quarter valued at $224,000. Finally, MetLife Investment Advisors LLC boosted its position in shares of Neenah by 55.8% in the 3rd quarter. MetLife Investment Advisors LLC now owns 12,064 shares of the basic materials company’s stock valued at $1,041,000 after purchasing an additional 4,319 shares during the period. 94.39% of the stock is owned by institutional investors and hedge funds.
In other Neenah news, Director John F. Mcgovern sold 4,155 shares of the firm’s stock in a transaction dated Wednesday, February 20th. The stock was sold at an average price of $70.84, for a total transaction of $294,340.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Larry Newton Brownlee sold 453 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $63.50, for a total value of $28,765.50. Following the sale, the vice president now owns 5,166 shares of the company’s stock, valued at $328,041. The disclosure for this sale can be found here. Insiders have sold a total of 6,047 shares of company stock valued at $421,325 over the last 90 days. Corporate insiders own 1.50% of the company’s stock.
NYSE:NP opened at $65.96 on Tuesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.30 and a quick ratio of 1.21. Neenah Inc has a 1-year low of $56.80 and a 1-year high of $96.15. The firm has a market capitalization of $1.12 billion, a P/E ratio of 18.95, a P/E/G ratio of 3.54 and a beta of 1.17.
Neenah (NYSE:NP) last announced its quarterly earnings data on Tuesday, February 12th. The basic materials company reported $0.53 EPS for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.09). Neenah had a return on equity of 15.03% and a net margin of 3.52%. The business had revenue of $240.90 million for the quarter, compared to analyst estimates of $255.63 million. During the same quarter in the previous year, the business posted $1.06 earnings per share. The company’s revenue was down 1.3% compared to the same quarter last year. Research analysts expect that Neenah Inc will post 3.76 EPS for the current fiscal year.
A number of equities analysts recently weighed in on NP shares. Zacks Investment Research upgraded Neenah from a “strong sell” rating to a “hold” rating in a research report on Wednesday, January 9th. DA Davidson decreased their price target on Neenah to $77.00 and set a “positive” rating for the company in a research report on Wednesday, February 13th.
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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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