Neenah Inc (NYSE:NP) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its stake in Neenah Inc (NYSE:NP) by 1.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 282,758 shares of the basic materials company’s stock after selling 3,837 shares during the period. Bank of New York Mellon Corp owned approximately 1.68% of Neenah worth $16,660,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in NP. BlackRock Inc. lifted its stake in shares of Neenah by 1.1% in the 4th quarter. BlackRock Inc. now owns 2,443,162 shares of the basic materials company’s stock valued at $143,951,000 after purchasing an additional 26,071 shares during the period. Vanguard Group Inc. increased its holdings in shares of Neenah by 3.3% in the 3rd quarter. Vanguard Group Inc. now owns 1,025,805 shares of the basic materials company’s stock worth $88,527,000 after buying an additional 32,846 shares during the last quarter. Vanguard Group Inc increased its holdings in shares of Neenah by 3.3% in the 3rd quarter. Vanguard Group Inc now owns 1,025,805 shares of the basic materials company’s stock worth $88,527,000 after buying an additional 32,846 shares during the last quarter. Macquarie Group Ltd. increased its holdings in shares of Neenah by 9.3% in the 3rd quarter. Macquarie Group Ltd. now owns 904,688 shares of the basic materials company’s stock worth $78,075,000 after buying an additional 76,716 shares during the last quarter. Finally, FMR LLC increased its holdings in shares of Neenah by 0.5% in the 3rd quarter. FMR LLC now owns 403,544 shares of the basic materials company’s stock worth $34,826,000 after buying an additional 2,019 shares during the last quarter. 94.39% of the stock is currently owned by institutional investors and hedge funds.

In related news, SVP Noah Samuel Benz sold 950 shares of Neenah stock in a transaction dated Friday, February 15th. The shares were sold at an average price of $70.44, for a total transaction of $66,918.00. Following the completion of the transaction, the senior vice president now directly owns 2,239 shares of the company’s stock, valued at approximately $157,715.16. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Larry Newton Brownlee sold 453 shares of Neenah 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 transaction, the vice president now directly owns 5,166 shares of the company’s stock, valued at $328,041. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,047 shares of company stock valued at $421,325. Corporate insiders own 1.60% of the company’s stock.

Several equities analysts recently commented on the stock. Zacks Investment Research lowered shares of Neenah from a “hold” rating to a “sell” rating in a report on Saturday, February 16th. DA Davidson cut their price target on shares of Neenah to $77.00 and set a “positive” rating on the stock in a report on Wednesday, February 13th.

Shares of NYSE:NP traded down $0.20 on Wednesday, hitting $65.61. The company had a trading volume of 56,282 shares, compared to its average volume of 93,508. Neenah Inc has a 1 year low of $56.80 and a 1 year high of $96.15. The company has a current ratio of 2.30, a quick ratio of 1.21 and a debt-to-equity ratio of 0.61. The stock has a market cap of $1.12 billion, a price-to-earnings ratio of 18.75, a P/E/G ratio of 3.52 and a beta of 1.17.

Neenah (NYSE:NP) last posted its earnings results on Tuesday, February 12th. The basic materials company reported $0.53 EPS for the quarter, missing the Thomson Reuters’ consensus estimate 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 during the quarter, compared to analysts’ expectations of $255.63 million. During the same period in the prior year, the business posted $1.06 earnings per share. The company’s revenue for the quarter was down 1.3% on a year-over-year basis. Equities analysts forecast that Neenah Inc will post 3.76 EPS for the current fiscal year.

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About Neenah

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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Institutional Ownership by Quarter for Neenah (NYSE:NP)

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