Russell Investments Group Ltd. lifted its holdings in shares of Neenah, Inc. (NYSE:NP) by 1,245.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 50,041 shares of the basic materials company’s stock after buying an additional 46,323 shares during the period. Russell Investments Group Ltd. owned approximately 0.30% of Neenah worth $2,508,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the stock. Lazard Asset Management LLC lifted its holdings in Neenah by 39.9% in the first quarter. Lazard Asset Management LLC now owns 594,113 shares of the basic materials company’s stock worth $30,525,000 after purchasing an additional 169,527 shares during the period. BlackRock Inc. raised its position in shares of Neenah by 4.7% during the 1st quarter. BlackRock Inc. now owns 2,763,982 shares of the basic materials company’s stock worth $142,013,000 after buying an additional 122,994 shares in the last quarter. Schroder Investment Management Group lifted its stake in shares of Neenah by 28.9% in the 1st quarter. Schroder Investment Management Group now owns 367,751 shares of the basic materials company’s stock worth $18,895,000 after acquiring an additional 82,527 shares during the period. Millennium Management LLC boosted its holdings in shares of Neenah by 529.2% in the first quarter. Millennium Management LLC now owns 94,142 shares of the basic materials company’s stock valued at $4,837,000 after acquiring an additional 79,181 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of Neenah by 1,550.0% during the first quarter. Renaissance Technologies LLC now owns 79,200 shares of the basic materials company’s stock valued at $4,069,000 after acquiring an additional 74,400 shares during the period. 91.21% of the stock is owned by institutional investors and hedge funds.
Shares of Neenah stock opened at $46.24 on Wednesday. Neenah, Inc. has a 52 week low of $36.04 and a 52 week high of $61.49. The company has a current ratio of 2.00, a quick ratio of 1.25 and a debt-to-equity ratio of 1.33. The stock has a market cap of $779.75 million, a PE ratio of -210.18 and a beta of 1.53. The company’s 50-day moving average price is $49.41 and its two-hundred day moving average price is $52.19.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 2nd. Stockholders of record on Friday, August 13th were given a dividend of $0.47 per share. The ex-dividend date of this dividend was Thursday, August 12th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 4.07%.
Separately, Sidoti raised Neenah from a “neutral” rating to a “buy” rating and set a $64.00 price target for the company in a research note on Tuesday, July 6th.
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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