Neenah Inc (NYSE:NP) Short Interest Up 14.3% in June
Neenah Inc (NYSE:NP) was the recipient of a significant increase in short interest in June. As of June 30th, there was short interest totalling 385,000 shares, an increase of 14.3% from the May 30th total of 336,800 shares. Based on an average daily trading volume, of 76,100 shares, the days-to-cover ratio is presently 5.1 days. Approximately 2.3% of the shares of the stock are short sold.
In related news, VP Larry Newton Brownlee sold 5,000 shares of Neenah stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $62.52, for a total value of $312,600.00. Following the sale, the vice president now directly owns 17,246 shares in the company, valued at $1,078,219.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.60% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. 6 Meridian boosted its position in shares of Neenah by 2.7% in the second quarter. 6 Meridian now owns 7,394 shares of the basic materials company’s stock worth $499,000 after buying an additional 197 shares during the period. Nisa Investment Advisors LLC boosted its position in shares of Neenah by 4.9% in the second quarter. Nisa Investment Advisors LLC now owns 4,250 shares of the basic materials company’s stock worth $287,000 after buying an additional 200 shares during the period. First Trust Advisors LP boosted its position in shares of Neenah by 154.0% in the first quarter. First Trust Advisors LP now owns 13,060 shares of the basic materials company’s stock worth $841,000 after buying an additional 7,918 shares during the period. Granite Investment Partners LLC boosted its holdings in Neenah by 22.6% in the first quarter. Granite Investment Partners LLC now owns 235,385 shares of the basic materials company’s stock valued at $15,149,000 after purchasing an additional 43,387 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Neenah in the first quarter valued at about $625,000. 92.61% of the stock is owned by institutional investors.
Neenah stock traded down $2.72 during trading on Monday, hitting $63.80. The company’s stock had a trading volume of 5,060 shares, compared to its average volume of 90,569. The stock has a market capitalization of $1.12 billion, a PE ratio of 18.28, a price-to-earnings-growth ratio of 4.25 and a beta of 1.34. The stock has a fifty day moving average price of $62.50. Neenah has a 1-year low of $56.67 and a 1-year high of $96.15. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.49 and a quick ratio of 1.31.
Neenah (NYSE:NP) last announced its quarterly earnings results on Thursday, May 2nd. The basic materials company reported $0.69 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.05. The company had revenue of $239.70 million during the quarter, compared to analyst estimates of $262.00 million. Neenah had a return on equity of 13.71% and a net margin of 3.17%. The firm’s revenue was down 10.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.04 earnings per share. Equities research analysts forecast that Neenah will post 3.13 EPS for the current fiscal year.
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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