Neenah (NYSE:NP – Get Rating) issued its quarterly earnings results on Wednesday. The basic materials company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.25, MarketWatch Earnings reports. Neenah had a positive return on equity of 10.88% and a negative net margin of 2.53%.
Shares of NYSE NP traded down $0.04 during trading on Friday, reaching $37.37. The company had a trading volume of 62,382 shares, compared to its average volume of 71,223. Neenah has a 12-month low of $31.46 and a 12-month high of $57.23. The stock has a market cap of $627.44 million, a PE ratio of -22.79 and a beta of 1.50. The business’s 50-day moving average is $37.74 and its 200 day moving average is $44.30. The company has a quick ratio of 1.19, a current ratio of 1.98 and a debt-to-equity ratio of 1.44.
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 2nd. Stockholders of record on Friday, May 13th will be paid a $0.475 dividend. The ex-dividend date is Thursday, May 12th. This represents a $1.90 dividend on an annualized basis and a dividend yield of 5.08%. Neenah’s dividend payout ratio is currently -115.85%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its position in shares of Neenah by 2.4% during the fourth quarter. BlackRock Inc. now owns 2,718,289 shares of the basic materials company’s stock valued at $125,802,000 after buying an additional 62,657 shares during the last quarter. State Street Corp boosted its position in shares of Neenah by 3.5% during the fourth quarter. State Street Corp now owns 596,606 shares of the basic materials company’s stock valued at $27,611,000 after buying an additional 20,379 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Neenah by 3.7% during the fourth quarter. Geode Capital Management LLC now owns 284,639 shares of the basic materials company’s stock valued at $13,173,000 after buying an additional 10,169 shares during the last quarter. Norges Bank bought a new position in Neenah in the fourth quarter valued at about $7,006,000. Finally, Morgan Stanley lifted its holdings in Neenah by 21.4% in the second quarter. Morgan Stanley now owns 81,170 shares of the basic materials company’s stock valued at $4,072,000 after acquiring an additional 14,296 shares during the period. 93.37% of the stock is currently owned by hedge funds and other institutional investors.
About Neenah (Get Rating)
Neenah, Inc, a specialty materials company, engages in the performance-based technical products, and fine paper and packaging products businesses in North America, Germany, Spain, and rest of Europe. Its Technical Products segment offers filtration media for transportation, water, and other end use applications; saturated and unsaturated crepe, and flat paper tapes; and coated lightweight abrasive papers for automotive, construction, metal, and woodworking industries.
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