Neenah Inc (NP) Shares Sold by Zebra Capital Management LLC
Zebra Capital Management LLC reduced its holdings in Neenah Inc (NYSE:NP) by 19.8% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,414 shares of the basic materials company’s stock after selling 1,337 shares during the quarter. Zebra Capital Management LLC’s holdings in Neenah were worth $459,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of NP. Atwood & Palmer Inc. increased its holdings in shares of Neenah by 184.6% during the second quarter. Atwood & Palmer Inc. now owns 1,423 shares of the basic materials company’s stock valued at $121,000 after acquiring an additional 923 shares in the last quarter. Itau Unibanco Holding S.A. bought a new stake in shares of Neenah during the second quarter valued at approximately $199,000. Everence Capital Management Inc. bought a new stake in shares of Neenah during the second quarter valued at approximately $212,000. BB&T Securities LLC bought a new stake in shares of Neenah during the second quarter valued at approximately $213,000. Finally, Amalgamated Bank bought a new stake in shares of Neenah during the second quarter valued at approximately $226,000. Institutional investors and hedge funds own 92.82% of the company’s stock.
Several equities research analysts have recently commented on the company. Zacks Investment Research downgraded Neenah from a “hold” rating to a “sell” rating in a report on Wednesday, July 11th. DA Davidson restated a “neutral” rating on shares of Neenah in a report on Wednesday, August 8th. Finally, ValuEngine upgraded Neenah from a “hold” rating to a “buy” rating in a report on Wednesday, August 8th.
Neenah (NYSE:NP) last released its quarterly earnings data on Tuesday, August 7th. The basic materials company reported $1.18 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.12 by $0.06. The firm had revenue of $271.30 million during the quarter, compared to the consensus estimate of $275.50 million. Neenah had a return on equity of 18.38% and a net margin of 4.78%. equities analysts anticipate that Neenah Inc will post 4.22 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 5th. Stockholders of record on Friday, August 17th were issued a dividend of $0.41 per share. The ex-dividend date of this dividend was Thursday, August 16th. This represents a $1.64 annualized dividend and a dividend yield of 1.71%. Neenah’s dividend payout ratio is 37.96%.
In related news, SVP Armin Schwinn sold 1,556 shares of Neenah stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $90.23, for a total transaction of $140,397.88. Following the transaction, the senior vice president now owns 2,240 shares of the company’s stock, valued at $202,115.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Larry Newton Brownlee sold 892 shares of Neenah stock in a transaction that occurred on Tuesday, August 14th. The shares were sold at an average price of $88.79, for a total value of $79,200.68. Following the transaction, the vice president now directly owns 3,952 shares in the company, valued at approximately $350,898.08. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,224 shares of company stock worth $467,967. 1.50% of the stock is owned by insiders.
Neenah, Inc produces and sells technical products, and fine paper and packaging products worldwide. The company's Technical Products segment offers filtration media for transportation, water, and other uses; saturated and unsaturated crepe, and flat paper tapes to manufacturers; and coated lightweight abrasive paper for automotive, construction, metal, and woodworking industries.
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