Neenah Inc (NYSE:NP) saw a large increase in short interest in May. As of May 31st, there was short interest totalling 297,000 shares, an increase of 10.0% from the April 30th total of 270,000 shares. Currently, 1.8% of the shares of the stock are sold short. Based on an average daily trading volume, of 77,200 shares, the days-to-cover ratio is currently 3.8 days.
In other news, VP Larry Newton Brownlee sold 5,000 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $62.52, for a total value of $312,600.00. Following the sale, the vice president now owns 17,246 shares of the company’s stock, valued at approximately $1,078,219.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.60% of the company’s stock.
A number of hedge funds have recently made changes to their positions in NP. 6 Meridian raised its position in Neenah by 2.7% in the 2nd quarter. 6 Meridian now owns 7,394 shares of the basic materials company’s stock valued at $499,000 after buying an additional 197 shares during the last quarter. Nisa Investment Advisors LLC raised its position in Neenah by 4.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 4,250 shares of the basic materials company’s stock valued at $287,000 after buying an additional 200 shares during the last quarter. First Trust Advisors LP raised its position in Neenah by 154.0% in the 1st quarter. First Trust Advisors LP now owns 13,060 shares of the basic materials company’s stock valued at $841,000 after buying an additional 7,918 shares during the last quarter. Granite Investment Partners LLC raised its position in Neenah by 22.6% in the 1st quarter. Granite Investment Partners LLC now owns 235,385 shares of the basic materials company’s stock valued at $15,149,000 after buying an additional 43,387 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in Neenah in the 1st quarter valued at $625,000. Hedge funds and other institutional investors own 92.56% of the company’s stock.
NP stock traded up $0.32 during mid-day trading on Friday, hitting $66.52. 57,541 shares of the company were exchanged, compared to its average volume of 90,466. The company has a current ratio of 2.49, a quick ratio of 1.31 and a debt-to-equity ratio of 0.65. The company has a market cap of $1.12 billion, a price-to-earnings ratio of 19.01, a P/E/G ratio of 4.25 and a beta of 1.34. The business has a 50 day simple moving average of $62.50. Neenah has a 1-year low of $56.67 and a 1-year high of $96.15.
Neenah (NYSE:NP) last announced its earnings results on Thursday, May 2nd. The basic materials company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.64 by $0.05. The firm had revenue of $239.70 million for the quarter, compared to the consensus estimate of $262.00 million. Neenah had a net margin of 3.17% and a return on equity of 13.71%. The business’s quarterly revenue was down 10.1% on a year-over-year basis. During the same period last year, the company posted $1.04 EPS. On average, equities research analysts forecast that Neenah will post 3.13 EPS for the current fiscal year.
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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