State of Alaska Department of Revenue Lowers Stock Position in Neenah Inc (NYSE:NP)

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State of Alaska Department of Revenue cut its position in shares of Neenah Inc (NYSE:NP) by 2.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 12,694 shares of the basic materials company’s stock after selling 262 shares during the quarter. State of Alaska Department of Revenue’s holdings in Neenah were worth $894,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. BlackRock Inc. boosted its holdings in Neenah by 0.4% during the second quarter. BlackRock Inc. now owns 2,463,037 shares of the basic materials company’s stock worth $166,377,000 after buying an additional 8,800 shares in the last quarter. Vanguard Group Inc. increased its position in Neenah by 0.8% during the second quarter. Vanguard Group Inc. now owns 1,092,108 shares of the basic materials company’s stock worth $73,772,000 after purchasing an additional 9,037 shares during the last quarter. Macquarie Group Ltd. increased its position in Neenah by 6.6% during the second quarter. Macquarie Group Ltd. now owns 1,060,097 shares of the basic materials company’s stock worth $71,610,000 after purchasing an additional 65,593 shares during the last quarter. Northern Trust Corp increased its position in Neenah by 3.4% during the second quarter. Northern Trust Corp now owns 376,443 shares of the basic materials company’s stock worth $25,428,000 after purchasing an additional 12,532 shares during the last quarter. Finally, Invesco Ltd. increased its position in Neenah by 7.2% during the second quarter. Invesco Ltd. now owns 306,201 shares of the basic materials company’s stock worth $20,684,000 after purchasing an additional 20,564 shares during the last quarter. 91.17% of the stock is currently owned by hedge funds and other institutional investors.

In other Neenah news, Director Philip C. Moore sold 6,000 shares of Neenah stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $74.80, for a total transaction of $448,800.00. Following the completion of the sale, the director now directly owns 16,027 shares in the company, valued at $1,198,819.60. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO John P. O’donnell sold 15,229 shares of Neenah stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $68.01, for a total transaction of $1,035,724.29. Following the sale, the chief executive officer now owns 30,379 shares of the company’s stock, valued at $2,066,075.79. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 28,957 shares of company stock valued at $2,023,243. 1.60% of the stock is owned by company insiders.

Several equities research analysts recently issued reports on NP shares. TheStreet upgraded shares of Neenah from a “c+” rating to a “b-” rating in a research report on Wednesday, November 27th. ValuEngine cut shares of Neenah from a “buy” rating to a “hold” rating in a research report on Friday, January 3rd. Finally, Zacks Investment Research cut shares of Neenah from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 8th.

Neenah stock opened at $67.76 on Friday. Neenah Inc has a 12-month low of $56.67 and a 12-month high of $77.55. The stock has a market cap of $1.13 billion, a P/E ratio of 21.60 and a beta of 1.31. The company has a 50-day moving average price of $70.61 and a 200 day moving average price of $66.69. The company has a current ratio of 2.42, a quick ratio of 1.28 and a debt-to-equity ratio of 0.53.

Neenah (NYSE:NP) last released its quarterly earnings data on Tuesday, November 5th. The basic materials company reported $0.95 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.87 by $0.08. Neenah had a net margin of 5.46% and a return on equity of 13.35%. The firm had revenue of $231.80 million during the quarter, compared to analysts’ expectations of $246.50 million. During the same period last year, the business earned $0.76 earnings per share. Neenah’s revenue was down 9.5% compared to the same quarter last year. As a group, analysts forecast that Neenah Inc will post 3.39 EPS for the current year.

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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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)

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