Confluence Investment Management LLC Purchases 10,088 Shares of Neenah, Inc. (NYSE:NP)


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Confluence Investment Management LLC boosted its position in shares of Neenah, Inc. (NYSE:NP) by 12.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 89,865 shares of the basic materials company’s stock after purchasing an additional 10,088 shares during the period. Confluence Investment Management LLC owned about 0.53% of Neenah worth $4,618,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Neenah during the 4th quarter worth approximately $11,875,000. UBS Asset Management Americas Inc. grew its position in shares of Neenah by 33.7% during the 4th quarter. UBS Asset Management Americas Inc. now owns 16,010 shares of the basic materials company’s stock worth $886,000 after buying an additional 4,036 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Neenah by 146.2% during the fourth quarter. JPMorgan Chase & Co. now owns 186,030 shares of the basic materials company’s stock valued at $10,291,000 after buying an additional 110,469 shares during the period. Truist Financial Corp bought a new stake in shares of Neenah in the fourth quarter valued at about $213,000. Finally, Zacks Investment Management purchased a new stake in shares of Neenah in the 4th quarter worth approximately $1,327,000. Institutional investors own 89.58% of the company’s stock.

Shares of NP traded up $0.58 during mid-day trading on Thursday, reaching $52.87. The company had a trading volume of 300 shares, compared to its average volume of 91,182. The company has a quick ratio of 1.35, a current ratio of 2.29 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $890.17 million, a P/E ratio of -83.37 and a beta of 1.50. The stock has a 50 day moving average of $55.27 and a two-hundred day moving average of $49.98. Neenah, Inc. has a 52-week low of $36.04 and a 52-week high of $61.49.

Neenah (NYSE:NP) last posted its earnings results on Wednesday, February 17th. The basic materials company reported $0.87 EPS for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.37. Neenah had a positive return on equity of 10.85% and a negative net margin of 1.28%. The firm had revenue of $206.90 million for the quarter.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 2nd. Stockholders of record on Friday, February 12th were paid a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 3.56%. The ex-dividend date of this dividend was Thursday, February 11th. Neenah’s dividend payout ratio is currently 54.18%.

Separately, Sidoti cut shares of Neenah from a “buy” rating to a “neutral” rating and set a $55.00 target price for the company. in a research report on Tuesday, December 15th.

Neenah Profile

Neenah, Inc engages in the provision of performance-based papers and specialty product. It operates through the following two segments: Technical Products and Fine Paper & Packaging. The Technical Products segment comprises transportation, water and other filter media and durable, saturated and coated substrates for a variety of end markets.

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Institutional Ownership by Quarter for Neenah (NYSE:NP)

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