Great West Life Assurance Co. Can raised its holdings in Neenah Inc (NYSE:NP) by 8.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,088 shares of the basic materials company’s stock after purchasing an additional 1,770 shares during the period. Great West Life Assurance Co. Can owned 0.14% of Neenah worth $1,255,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in NP. Standard Life Aberdeen plc raised its holdings in shares of Neenah by 10.3% in the 4th quarter. Standard Life Aberdeen plc now owns 783,857 shares of the basic materials company’s stock worth $46,357,000 after purchasing an additional 73,295 shares in the last quarter. Advisor Group Inc. raised its holdings in shares of Neenah by 32.4% during the fourth quarter. Advisor Group Inc. now owns 1,727 shares of the basic materials company’s stock valued at $102,000 after acquiring an additional 423 shares during the period. Texas Permanent School Fund raised its holdings in shares of Neenah by 4.2% during the fourth quarter. Texas Permanent School Fund now owns 11,038 shares of the basic materials company’s stock valued at $650,000 after acquiring an additional 447 shares during the period. BlackRock Inc. raised its holdings in shares of Neenah by 1.1% during the fourth quarter. BlackRock Inc. now owns 2,443,162 shares of the basic materials company’s stock valued at $143,951,000 after acquiring an additional 26,071 shares during the period. Finally, Investment Counselors of Maryland LLC raised its holdings in shares of Neenah by 213.8% during the fourth quarter. Investment Counselors of Maryland LLC now owns 134,306 shares of the basic materials company’s stock valued at $7,913,000 after acquiring an additional 91,506 shares during the period. 94.39% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Neenah from a “sell” rating to a “hold” rating in a report on Wednesday. DA Davidson dropped their price objective on shares of Neenah to $77.00 and set a “positive” rating for the company in a research note on Wednesday, February 13th.
Neenah (NYSE:NP) last issued its quarterly earnings data on Tuesday, February 12th. The basic materials company reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.09). Neenah had a return on equity of 15.03% and a net margin of 3.52%. The company had revenue of $240.90 million for the quarter, compared to the consensus estimate of $255.63 million. During the same period in the prior year, the company earned $1.06 EPS. The firm’s revenue was down 1.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Neenah Inc will post 3.76 EPS for the current fiscal year.
In other news, Director John F. Mcgovern sold 4,155 shares of the firm’s stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $70.84, for a total value of $294,340.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Larry Newton Brownlee sold 453 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $63.50, for a total transaction of $28,765.50. Following the completion of the transaction, the vice president now directly owns 5,166 shares in the company, valued at approximately $328,041. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,047 shares of company stock worth $421,325. Insiders own 1.60% of the company’s stock.
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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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