Aigen Investment Management LP bought a new stake in Neenah Inc (NYSE:NP) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,418 shares of the basic materials company’s stock, valued at approximately $170,000.
Several other institutional investors and hedge funds have also recently made changes to their positions in NP. Nuveen Asset Management LLC bought a new position in Neenah in the 2nd quarter valued at $4,732,000. Morgan Stanley boosted its stake in shares of Neenah by 631.3% during the second quarter. Morgan Stanley now owns 76,884 shares of the basic materials company’s stock valued at $5,194,000 after purchasing an additional 66,370 shares during the period. Copeland Capital Management LLC grew its holdings in shares of Neenah by 20.3% in the fourth quarter. Copeland Capital Management LLC now owns 282,328 shares of the basic materials company’s stock worth $19,884,000 after purchasing an additional 47,587 shares during the last quarter. Squarepoint Ops LLC grew its holdings in shares of Neenah by 222.3% in the third quarter. Squarepoint Ops LLC now owns 41,188 shares of the basic materials company’s stock worth $2,682,000 after purchasing an additional 28,407 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its stake in Neenah by 24.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 111,967 shares of the basic materials company’s stock worth $7,289,000 after buying an additional 21,863 shares during the period. 91.20% of the stock is currently owned by institutional investors and hedge funds.
In other Neenah news, CEO John P. O’donnell sold 15,229 shares of the firm’s 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 transaction, the chief executive officer now owns 30,379 shares of the company’s stock, valued at approximately $2,066,075.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John P. O’donnell sold 7,728 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $69.71, for a total transaction of $538,718.88. Following the transaction, the chief executive officer now directly owns 69,248 shares in the company, valued at approximately $4,827,278.08. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.
NP has been the subject of a number of research analyst reports. ValuEngine upgraded shares of Neenah from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. Zacks Investment Research downgraded shares of Neenah from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 8th. Finally, TheStreet upgraded shares of Neenah from a “c+” rating to a “b-” rating in a research note on Wednesday, November 27th.
Shares of NYSE NP opened at $69.23 on Friday. Neenah Inc has a 52-week low of $56.67 and a 52-week high of $77.55. The firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of 22.40 and a beta of 1.32. The stock has a 50 day moving average price of $68.49 and a 200 day moving average price of $67.10. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.28 and a current ratio of 2.42.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 3rd. Shareholders of record on Friday, February 14th will be issued a dividend of $0.47 per share. This is an increase from Neenah’s previous quarterly dividend of $0.45. This represents a $1.88 annualized dividend and a yield of 2.72%. The ex-dividend date is Thursday, February 13th. Neenah’s dividend payout ratio (DPR) is presently 51.43%.
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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