Neenah (NP) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of Neenah (NYSE:NP) from a hold rating to a sell rating in a research note released on Friday morning, Zacks.com reports.

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. “

Separately, DA Davidson reduced their price objective on shares of Neenah to $77.00 and set a positive rating on the stock in a research note on Wednesday, February 13th.



Shares of NYSE:NP opened at $60.18 on Friday. The firm has a market cap of $1.06 billion, a PE ratio of 17.19, a P/E/G ratio of 4.03 and a beta of 1.17. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.49 and a quick ratio of 1.31. Neenah has a 52-week low of $56.80 and a 52-week high of $96.15.

Neenah (NYSE:NP) last announced its quarterly earnings results on Thursday, May 2nd. The basic materials company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.05. The company had revenue of $239.70 million during the quarter, compared to the consensus estimate of $262.00 million. Neenah had a net margin of 3.17% and a return on equity of 13.71%. The company’s revenue for the quarter was down 10.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.04 earnings per share. On average, sell-side analysts anticipate that Neenah will post 3.13 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Friday, May 17th will be paid a $0.45 dividend. The ex-dividend date is Thursday, May 16th. This represents a $1.80 annualized dividend and a dividend yield of 2.99%. Neenah’s dividend payout ratio is 51.43%.

In related news, VP Larry Newton Brownlee sold 453 shares of the business’s stock in a transaction on Friday, March 15th. The shares were 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 sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Armin Schwinn sold 489 shares of the business’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $64.01, for a total transaction of $31,300.89. Following the completion of the sale, the senior vice president now directly owns 2,608 shares in the company, valued at approximately $166,938.08. The disclosure for this sale can be found here. In the last three months, insiders sold 11,047 shares of company stock worth $733,925. 1.60% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of NP. Norges Bank bought a new stake in Neenah during the fourth quarter valued at $14,031,000. Ceredex Value Advisors LLC bought a new stake in Neenah during the fourth quarter valued at $12,706,000. Skyline Asset Management LP bought a new stake in Neenah during the fourth quarter valued at $9,539,000. Investment Counselors of Maryland LLC boosted its position in Neenah by 213.8% during the fourth quarter. Investment Counselors of Maryland LLC now owns 134,306 shares of the basic materials company’s stock valued at $7,913,000 after acquiring an additional 91,506 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its position in Neenah by 6.4% during the first quarter. Wells Fargo & Company MN now owns 1,222,695 shares of the basic materials company’s stock valued at $78,693,000 after acquiring an additional 73,669 shares during the last quarter. 94.49% of the stock is currently owned by institutional investors and hedge funds.

About Neenah

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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