Neenah Inc (NP) Holdings Cut by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio lowered its stake in shares of Neenah Inc (NYSE:NP) by 95.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 880 shares of the basic materials company’s stock after selling 17,858 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Neenah were worth $52,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Macquarie Group Ltd. grew its holdings in shares of Neenah by 2.1% during the fourth quarter. Macquarie Group Ltd. now owns 924,005 shares of the basic materials company’s stock worth $54,442,000 after purchasing an additional 19,317 shares during the last quarter. Legal & General Group Plc boosted its holdings in Neenah by 0.5% in the fourth quarter. Legal & General Group Plc now owns 39,675 shares of the basic materials company’s stock valued at $2,331,000 after acquiring an additional 215 shares during the last quarter. Segall Bryant & Hamill LLC boosted its holdings in Neenah by 35.7% in the fourth quarter. Segall Bryant & Hamill LLC now owns 14,625 shares of the basic materials company’s stock valued at $862,000 after acquiring an additional 3,844 shares during the last quarter. Municipal Employees Retirement System of Michigan bought a new position in Neenah in the fourth quarter valued at about $287,000. Finally, Metropolitan Life Insurance Co. NY boosted its holdings in Neenah by 368.2% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 5,492 shares of the basic materials company’s stock valued at $324,000 after acquiring an additional 4,319 shares during the last quarter. 94.39% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts recently issued reports on NP shares. Zacks Investment Research upgraded Neenah from a “sell” rating to a “hold” rating in a report on Wednesday. DA Davidson cut their target price on Neenah to $77.00 and set a “positive” rating on the stock in a research note on Wednesday, February 13th.

NYSE:NP opened at $66.24 on Friday. 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 capitalization of $1.12 billion, a price-to-earnings ratio of 18.93, a P/E/G ratio of 3.51 and a beta of 1.17.

Neenah (NYSE:NP) last released its earnings results on Tuesday, February 12th. The basic materials company reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.09). Neenah had a net margin of 3.52% and a return on equity of 15.03%. The company had revenue of $240.90 million during the quarter, compared to analyst estimates of $255.63 million. During the same period in the previous year, the company posted $1.06 EPS. The company’s quarterly revenue was down 1.3% compared to the same quarter last year. Research analysts anticipate that Neenah Inc will post 3.76 EPS for the current 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 stock was sold at an average price of $70.84, for a total transaction of $294,340.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Armin Schwinn sold 489 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $64.01, for a total value of $31,300.89. Following the sale, the senior vice president now directly owns 2,608 shares in the company, valued at approximately $166,938.08. The disclosure for this sale can be found here. Insiders sold 6,047 shares of company stock worth $421,325 in the last three months. Insiders own 1.50% of the company’s stock.

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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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