Neenah Inc (NYSE:NP) – Research analysts at DA Davidson reduced their Q2 2018 earnings per share (EPS) estimates for shares of Neenah in a report released on Thursday, according to Zacks Investment Research. DA Davidson analyst S. Chercover now expects that the basic materials company will post earnings of $1.10 per share for the quarter, down from their previous estimate of $1.31. DA Davidson also issued estimates for Neenah’s Q3 2018 earnings at $1.15 EPS, FY2018 earnings at $4.40 EPS and FY2019 earnings at $5.11 EPS.
Neenah (NYSE:NP) last announced its quarterly earnings results on Wednesday, February 14th. The basic materials company reported $1.06 EPS for the quarter, beating the consensus estimate of $0.91 by $0.15. Neenah had a net margin of 8.19% and a return on equity of 19.49%. The company had revenue of $244.00 million for the quarter, compared to analyst estimates of $233.85 million. During the same quarter last year, the business earned $1.10 earnings per share. Neenah’s revenue was up 10.7% compared to the same quarter last year.
Shares of Neenah (NP) traded down $0.65 during trading hours on Monday, hitting $80.30. 82,912 shares of the company’s stock traded hands, compared to its average volume of 81,764. Neenah has a 12 month low of $72.35 and a 12 month high of $95.40. The firm has a market capitalization of $1,352.33, a price-to-earnings ratio of 17.12, a P/E/G ratio of 3.58 and a beta of 1.29. The company has a quick ratio of 1.14, a current ratio of 2.29 and a debt-to-equity ratio of 0.64.
A number of institutional investors have recently bought and sold shares of the stock. Xact Kapitalforvaltning AB acquired a new position in Neenah in the 4th quarter worth approximately $205,000. MetLife Investment Advisors LLC bought a new position in shares of Neenah during the 4th quarter valued at $702,000. Macquarie Group Ltd. raised its holdings in shares of Neenah by 7.7% during the 4th quarter. Macquarie Group Ltd. now owns 705,779 shares of the basic materials company’s stock valued at $63,979,000 after purchasing an additional 50,240 shares in the last quarter. Vident Investment Advisory LLC bought a new position in shares of Neenah during the 4th quarter valued at $228,000. Finally, Teachers Advisors LLC raised its holdings in shares of Neenah by 2.2% during the 4th quarter. Teachers Advisors LLC now owns 30,269 shares of the basic materials company’s stock valued at $2,744,000 after purchasing an additional 642 shares in the last quarter. 93.29% of the stock is owned by hedge funds and other institutional investors.
In related news, VP Larry Newton Brownlee sold 454 shares of the firm’s stock in a transaction that occurred on Wednesday, March 7th. The shares were sold at an average price of $79.51, for a total transaction of $36,097.54. Following the transaction, the vice president now owns 3,514 shares in the company, valued at $279,398.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Stephen Michael Wood sold 1,600 shares of Neenah stock in a transaction that occurred on Thursday, March 8th. The stock was sold at an average price of $80.00, for a total transaction of $128,000.00. Following the completion of the transaction, the director now owns 37,713 shares in the company, valued at approximately $3,017,040. The disclosure for this sale can be found here. Insiders have sold 20,864 shares of company stock worth $1,830,293 in the last quarter. Company insiders own 2.00% of the company’s stock.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 2nd. Investors of record on Friday, February 16th were paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date was Thursday, February 15th. This is a positive change from Neenah’s previous quarterly dividend of $0.37. Neenah’s dividend payout ratio (DPR) is currently 34.97%.
Neenah declared that its Board of Directors has approved a stock repurchase program on Wednesday, November 29th that permits the company to repurchase $25.00 million in outstanding shares. This repurchase authorization permits the basic materials company to buy shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.
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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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