Shares of Neenah Inc (NYSE:NP) have been assigned an average broker rating score of 3.00 (Hold) from the two analysts that cover the company, Zacks Investment Research reports. Two analysts have rated the stock with a hold recommendation.
Analysts have set a 12-month consensus price objective of $80.50 for the company and are predicting that the company will post $0.97 earnings per share for the current quarter, according to Zacks. Zacks has also given Neenah an industry rank of 51 out of 265 based on the ratings given to its competitors.
Several equities research analysts have commented on NP shares. Zacks Investment Research raised shares of Neenah from a “hold” rating to a “buy” rating and set a $104.00 price target on the stock in a research report on Tuesday, January 16th. DA Davidson restated a “neutral” rating on shares of Neenah in a research report on Thursday, November 9th.
Neenah (NYSE:NP) last issued its quarterly earnings results on Wednesday, February 14th. The basic materials company reported $1.06 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $233.85 million. During the same quarter in the prior year, the business posted $1.10 earnings per share. Neenah’s revenue for the quarter was up 10.7% on a year-over-year basis. research analysts expect that Neenah will post 4.48 EPS for the current year.
Neenah announced that its Board of Directors has initiated a share buyback plan on Wednesday, November 29th that allows the company to repurchase $25.00 million in shares. This repurchase authorization allows the basic materials company to reacquire shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 2nd. Stockholders of record on Friday, February 16th will be paid a $0.41 dividend. This is a boost from Neenah’s previous quarterly dividend of $0.37. The ex-dividend date is Thursday, February 15th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.05%. Neenah’s dividend payout ratio is 34.97%.
In other news, Director Timothy S. Lucas sold 1,475 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $80.05, for a total value of $118,073.75. Following the completion of the sale, the director now owns 17,168 shares of the company’s stock, valued at approximately $1,374,298.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Timothy S. Lucas sold 2,000 shares of the company’s stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $87.90, for a total transaction of $175,800.00. Following the completion of the sale, the director now directly owns 15,693 shares of the company’s stock, valued at approximately $1,379,414.70. The disclosure for this sale can be found here. Insiders sold a total of 20,931 shares of company stock valued at $1,893,504 in the last ninety days. 2.00% of the stock is owned by corporate insiders.
A number of large investors have recently bought and sold shares of NP. US Bancorp DE raised its holdings in Neenah by 115.7% in the fourth quarter. US Bancorp DE now owns 1,152 shares of the basic materials company’s stock worth $104,000 after purchasing an additional 618 shares in the last quarter. Quadrature Capital Ltd acquired a new position in shares of Neenah during the 4th quarter worth approximately $200,000. Magnetar Financial LLC acquired a new position in shares of Neenah during the 3rd quarter worth approximately $205,000. Xact Kapitalforvaltning AB acquired a new position in shares of Neenah during the 4th quarter worth approximately $205,000. Finally, Amalgamated Bank acquired a new position in shares of Neenah during the 4th quarter worth approximately $220,000. Institutional investors 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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