HGK Asset Management Inc. Reduces Holdings in Neenah Inc (NP)

HGK Asset Management Inc. decreased its position in shares of Neenah Inc (NYSE:NP) by 29.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,870 shares of the basic materials company’s stock after selling 2,074 shares during the quarter. HGK Asset Management Inc.’s holdings in Neenah were worth $313,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the business. Investors Research Corp acquired a new stake in shares of Neenah during the 1st quarter valued at approximately $32,000. Quantamental Technologies LLC acquired a new position in shares of Neenah during the 4th quarter worth approximately $35,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Neenah by 46.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,166 shares of the basic materials company’s stock worth $69,000 after purchasing an additional 372 shares during the last quarter. First Interstate Bank raised its position in shares of Neenah by 31.2% during the 4th quarter. First Interstate Bank now owns 1,366 shares of the basic materials company’s stock worth $80,000 after purchasing an additional 325 shares during the last quarter. Finally, Bank of Montreal Can raised its position in shares of Neenah by 12.8% during the 4th quarter. Bank of Montreal Can now owns 1,485 shares of the basic materials company’s stock worth $87,000 after purchasing an additional 168 shares during the last quarter. 94.40% of the stock is currently owned by institutional investors.

Shares of Neenah stock opened at $59.05 on Monday. The company has a market cap of $996.00 million, a P/E ratio of 16.87, a P/E/G ratio of 3.77 and a beta of 1.17. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.49 and a quick ratio of 1.31. Neenah Inc has a 1 year low of $56.80 and a 1 year high of $96.15.

Neenah (NYSE:NP) last released its earnings results on Thursday, May 2nd. The basic materials company reported $0.69 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.05. The firm had revenue of $239.70 million during the quarter, compared to analysts’ expectations of $262.00 million. Neenah had a net margin of 3.17% and a return on equity of 13.71%. Neenah’s revenue for the quarter was down 10.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.04 EPS. On average, analysts forecast that Neenah Inc will post 3.13 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Friday, May 17th will be paid a $0.45 dividend. The ex-dividend date is Thursday, May 16th. This represents a $1.80 annualized dividend and a yield of 3.05%. Neenah’s payout ratio is currently 51.43%.

Several research analysts recently issued reports on the company. Zacks Investment Research downgraded Neenah from a “hold” rating to a “sell” rating in a research report on Friday, May 10th. DA Davidson cut their price objective on Neenah to $77.00 and set a “positive” rating for the company in a research report on Wednesday, February 13th.

In related news, SVP Armin Schwinn sold 489 shares of Neenah stock in a transaction on Monday, March 11th. The shares were sold at an average price of $64.01, for a total transaction of $31,300.89. Following the transaction, the senior vice president now owns 2,608 shares in the company, valued at approximately $166,938.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Larry Newton Brownlee sold 5,000 shares of Neenah stock in a transaction on Friday, May 10th. The shares were sold at an average price of $62.52, for a total transaction of $312,600.00. Following the transaction, the vice president now owns 17,246 shares in the company, valued at approximately $1,078,219.92. The disclosure for this sale can be found here. Insiders sold a total of 10,097 shares of company stock valued at $667,007 over the last ninety days. 1.60% of the stock is owned by corporate insiders.

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Neenah Company 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.

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Institutional Ownership by Quarter for Neenah (NYSE:NP)

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