Stephen Michael Wood Sells 1,600 Shares of Neenah Inc (NP) Stock
Neenah Inc (NYSE:NP) Director Stephen Michael Wood sold 1,600 shares of Neenah stock in a transaction that occurred on Tuesday, March 6th. The shares were sold at an average price of $80.00, for a total value of $128,000.00. Following the completion of the sale, the director now owns 37,713 shares in the company, valued at $3,017,040. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Stephen Michael Wood also recently made the following trade(s):
- On Thursday, March 8th, Stephen Michael Wood sold 1,600 shares of Neenah stock. The shares were sold at an average price of $80.00, for a total value of $128,000.00.
Shares of Neenah Inc (NP) opened at $80.50 on Friday. The company has a quick ratio of 1.14, a current ratio of 2.29 and a debt-to-equity ratio of 0.64. Neenah Inc has a 12 month low of $72.35 and a 12 month high of $95.40. The firm has a market capitalization of $1,359.08, a P/E ratio of 17.16, a P/E/G ratio of 3.60 and a beta of 1.29.
The company also recently announced a quarterly dividend, which was paid on Friday, March 2nd. Shareholders of record on Friday, February 16th were given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 2.04%. This is an increase from Neenah’s previous quarterly dividend of $0.37. The ex-dividend date was Thursday, February 15th. Neenah’s payout ratio is presently 34.97%.
Neenah announced that its board has approved a share buyback program on Wednesday, November 29th that permits the company to buyback $25.00 million in outstanding shares. This buyback authorization permits the basic materials company to purchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.
Separately, Zacks Investment Research downgraded Neenah from a “buy” rating to a “hold” rating in a research note on Saturday, January 13th.
Institutional investors and hedge funds have recently bought and sold shares of the business. US Bancorp DE boosted its position in Neenah by 115.7% during the fourth quarter. US Bancorp DE now owns 1,152 shares of the basic materials company’s stock worth $104,000 after purchasing an additional 618 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in Neenah during the fourth quarter worth $200,000. Xact Kapitalforvaltning AB purchased a new stake in Neenah during the fourth quarter worth $205,000. Magnetar Financial LLC purchased a new stake in Neenah during the third quarter worth $205,000. Finally, Amalgamated Bank purchased a new stake in Neenah during the fourth quarter worth $220,000. Institutional investors own 91.79% of the company’s stock.
Neenah, Inc, formerly Neenah Paper, Inc, is a materials company focused in niche markets. The Company has two primary businesses: technical products, and fine paper and packaging. The technical products business is an international producer of transportation, water and other filtration media, digital transfer materials, tape and abrasive backings, labels and other performance-oriented substrates.
Receive News & Ratings for Neenah Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Neenah and related companies with MarketBeat.com's FREE daily email newsletter.