Short Interest in Neenah Inc (NYSE:NP) Rises By 14.3%

Neenah Inc (NYSE:NP) was the target of a significant growth in short interest in June. As of June 30th, there was short interest totalling 385,000 shares, a growth of 14.3% from the May 30th total of 336,800 shares. Based on an average trading volume of 76,100 shares, the short-interest ratio is currently 5.1 days. Approximately 2.3% of the company’s stock are short sold.

Shares of NYSE NP traded up $0.32 during midday trading on Friday, hitting $66.52. The stock had a trading volume of 57,541 shares, compared to its average volume of 90,466. The firm’s 50 day moving average is $62.50. The stock has a market cap of $1.12 billion, a P/E ratio of 19.01, a P/E/G ratio of 4.23 and a beta of 1.34. Neenah has a 52 week low of $56.67 and a 52 week high of $96.15. The company has a current ratio of 2.49, a quick ratio of 1.31 and a debt-to-equity ratio of 0.65.

Neenah (NYSE:NP) last issued its earnings results on Thursday, May 2nd. The basic materials company reported $0.69 earnings per share (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 revenue was down 10.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.04 earnings per share. Sell-side analysts expect that Neenah will post 3.13 earnings per share for the current fiscal year.

Several equities research analysts recently commented on the stock. Zacks Investment Research lowered shares of GENEL ENERGY PL/ADR from a “hold” rating to a “sell” rating in a research note on Thursday, July 4th. ValuEngine lowered shares of Zumiez from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd.

In related news, VP Larry Newton Brownlee sold 5,000 shares of the business’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $62.52, for a total transaction of $312,600.00. Following the sale, the vice president now owns 17,246 shares of the company’s stock, valued at $1,078,219.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.60% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of NP. Norges Bank bought a new position in shares of Neenah in the fourth quarter worth approximately $14,031,000. Ceredex Value Advisors LLC lifted its stake in shares of Neenah by 40.4% in the first quarter. Ceredex Value Advisors LLC now owns 302,770 shares of the basic materials company’s stock worth $19,486,000 after buying an additional 87,114 shares in the last quarter. Wells Fargo & Company MN lifted its stake in shares of Neenah by 6.4% in the first quarter. Wells Fargo & Company MN now owns 1,222,695 shares of the basic materials company’s stock worth $78,693,000 after buying an additional 73,669 shares in the last quarter. Granite Investment Partners LLC lifted its stake in shares of Neenah by 22.6% in the first quarter. Granite Investment Partners LLC now owns 235,385 shares of the basic materials company’s stock worth $15,149,000 after buying an additional 43,387 shares in the last quarter. Finally, 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 purchasing an additional 26,071 shares during the last quarter. Hedge funds and other institutional investors own 92.56% of the company’s stock.

Neenah Company Profile

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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