Neenah Inc (NYSE:NP) announced a quarterly dividend on Friday, July 31st, RTT News reports. Shareholders of record on Friday, August 14th will be given a dividend of 0.47 per share by the basic materials company on Wednesday, September 2nd. This represents a $1.88 dividend on an annualized basis and a yield of 4.21%.
Neenah has increased its dividend payment by an average of 36.4% per year over the last three years and has increased its dividend annually for the last 9 consecutive years. Neenah has a dividend payout ratio of 79.7% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research analysts expect Neenah to earn $1.98 per share next year, which means the company should continue to be able to cover its $1.88 annual dividend with an expected future payout ratio of 94.9%.
NYSE:NP opened at $44.61 on Friday. The company has a quick ratio of 1.90, a current ratio of 3.08 and a debt-to-equity ratio of 0.70. The business’s 50-day simple moving average is $48.63 and its two-hundred day simple moving average is $52.28. The stock has a market cap of $768.21 million, a PE ratio of 12.64 and a beta of 1.41. Neenah has a 52 week low of $33.44 and a 52 week high of $77.55.
Neenah (NYSE:NP) last issued its quarterly earnings data on Friday, May 8th. The basic materials company reported $1.12 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.92 by $0.20. The firm had revenue of $233.60 million during the quarter. Neenah had a return on equity of 16.26% and a net margin of 6.43%. During the same quarter in the previous year, the business earned $0.69 EPS. Sell-side analysts anticipate that Neenah will post 1.45 earnings per share for the current fiscal year.
A number of research analysts have recently weighed in on the company. Zacks Investment Research lowered Neenah from a “hold” rating to a “sell” rating in a research report on Tuesday, May 12th. DA Davidson cut their price objective on Neenah to $62.00 and set a “buy” rating for the company in a research report on Wednesday, April 15th. Finally, Sidoti lowered Neenah from a “buy” rating to a “neutral” rating and set a $55.00 price objective for the company. in a research report on Thursday, May 28th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $67.00.
In related news, CFO Paul F. Desantis purchased 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The stock was bought at an average price of $49.63 per share, for a total transaction of $297,780.00. Following the completion of the transaction, the chief financial officer now owns 14,942 shares in the company, valued at approximately $741,571.46. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.60% of the company’s stock.
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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