Neenah Inc (NP) To Go Ex-Dividend on August 15th
Neenah Inc (NYSE:NP) declared a quarterly dividend on Thursday, August 1st, RTT News reports. Investors of record on Friday, August 16th will be paid a dividend of 0.45 per share by the basic materials company on Wednesday, September 4th. This represents a $1.80 annualized dividend and a yield of 2.73%. The ex-dividend date of this dividend is Thursday, August 15th.
Neenah has raised its dividend by an average of 11.0% per year over the last three years and has increased its dividend every year for the last 8 years. Neenah has a payout ratio of 42.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Neenah to earn $3.50 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 51.4%.
Shares of NP opened at $65.83 on Tuesday. The company has a market cap of $1.14 billion, a P/E ratio of 18.81 and a beta of 1.32. Neenah has a one year low of $56.67 and a one year high of $96.15. The company has a quick ratio of 1.28, a current ratio of 2.38 and a debt-to-equity ratio of 0.58. The stock has a fifty day moving average price of $65.29.
In other news, VP Larry Newton Brownlee sold 5,000 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $67.67, for a total transaction of $338,350.00. Following the transaction, the vice president now owns 12,246 shares in the company, valued at approximately $828,686.82. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.60% of the company’s stock.
Several research analysts have recently issued reports on NP shares. ValuEngine upgraded shares of Neenah from a “hold” rating to a “buy” rating in a report on Tuesday, July 2nd. Zacks Investment Research upgraded shares of Neenah from a “hold” rating to a “buy” rating and set a $76.00 price objective on the stock in a report on Tuesday.
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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