Russell Investments Group Ltd. Raises Position in Neenah Inc (NYSE:NP)

Russell Investments Group Ltd. raised its holdings in shares of Neenah Inc (NYSE:NP) by 5.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 90,104 shares of the basic materials company’s stock after acquiring an additional 4,666 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.53% of Neenah worth $6,084,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of NP. Signaturefd LLC boosted its stake in shares of Neenah by 51.4% during the 2nd quarter. Signaturefd LLC now owns 477 shares of the basic materials company’s stock worth $32,000 after acquiring an additional 162 shares during the last quarter. Advisor Group Inc. boosted its stake in shares of Neenah by 12.1% during the 2nd quarter. Advisor Group Inc. now owns 1,978 shares of the basic materials company’s stock worth $135,000 after acquiring an additional 214 shares during the last quarter. First Interstate Bank boosted its stake in shares of Neenah by 18.5% during the 2nd quarter. First Interstate Bank now owns 2,092 shares of the basic materials company’s stock worth $141,000 after acquiring an additional 326 shares during the last quarter. Bremer Bank National Association purchased a new position in shares of Neenah during the 1st quarter worth $142,000. Finally, Parallel Advisors LLC boosted its stake in shares of Neenah by 32.4% during the 2nd quarter. Parallel Advisors LLC now owns 2,191 shares of the basic materials company’s stock worth $148,000 after acquiring an additional 536 shares during the last quarter. Institutional investors and hedge funds own 92.82% of the company’s stock.

Shares of NP stock traded up $1.31 on Friday, hitting $68.42. 1,551 shares of the stock traded hands, compared to its average volume of 76,224. The firm has a market cap of $1.11 billion, a price-to-earnings ratio of 19.63 and a beta of 1.29. Neenah Inc has a 52 week low of $56.67 and a 52 week high of $96.15. The firm has a 50 day simple moving average of $64.74 and a two-hundred day simple moving average of $64.25. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.38 and a quick ratio of 1.28.

Neenah (NYSE:NP) last announced its quarterly earnings data on Tuesday, August 6th. The basic materials company reported $0.95 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.90 by $0.05. The firm had revenue of $253.40 million for the quarter, compared to the consensus estimate of $261.47 million. Neenah had a net margin of 5.09% and a return on equity of 12.58%. The company’s revenue was down 6.6% on a year-over-year basis. During the same period last year, the firm earned $1.18 EPS. Sell-side analysts forecast that Neenah Inc will post 3.19 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Friday, August 16th were issued a $0.45 dividend. The ex-dividend date was Thursday, August 15th. This represents a $1.80 dividend on an annualized basis and a yield of 2.63%. Neenah’s dividend payout ratio is currently 51.43%.

Several analysts have recently commented on the stock. ValuEngine upgraded shares of Neenah from a “hold” rating to a “buy” rating in a research report on Tuesday, July 2nd. Zacks Investment Research upgraded shares of Neenah from a “hold” rating to a “buy” rating and set a $76.00 price objective on the stock in a research report on Tuesday, August 13th.

In other Neenah news, CFO Bonnie Cruickshank Lind sold 7,846 shares of Neenah stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $66.36, for a total value of $520,660.56. Following the sale, the chief financial officer now directly owns 27,024 shares in the company, valued at approximately $1,793,312.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Julie Schertell sold 1,500 shares of Neenah stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $64.77, for a total transaction of $97,155.00. Following the completion of the sale, the senior vice president now owns 6,226 shares in the company, valued at $403,258.02. The disclosure for this sale can be found here. Over the last quarter, insiders sold 53,317 shares of company stock worth $3,572,519. 1.60% of the stock is currently owned by insiders.

Neenah Profile

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.

Read More: Understanding the Price to Earnings Ratio (PE)

Want to see what other hedge funds are holding NP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Neenah Inc (NYSE:NP).

Institutional Ownership by Quarter for Neenah (NYSE:NP)

Receive News & Ratings for Neenah Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Neenah and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit