Baskin Financial Services Inc. lowered its stake in shares of Neenah Inc (NYSE:NP) by 6.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 93,269 shares of the basic materials company’s stock after selling 6,155 shares during the period. Baskin Financial Services Inc. owned 0.55% of Neenah worth $6,003,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. 6 Meridian boosted its stake in Neenah by 30.3% during the first quarter. 6 Meridian now owns 7,197 shares of the basic materials company’s stock worth $463,000 after buying an additional 1,674 shares during the last quarter. Dalton Greiner Hartman Maher & Co. boosted its stake in Neenah by 8.0% during the first quarter. Dalton Greiner Hartman Maher & Co. now owns 45,087 shares of the basic materials company’s stock worth $2,902,000 after buying an additional 3,337 shares during the last quarter. Geode Capital Management LLC boosted its stake in Neenah by 5.5% during the fourth quarter. Geode Capital Management LLC now owns 178,571 shares of the basic materials company’s stock worth $10,521,000 after buying an additional 9,230 shares during the last quarter. Norges Bank acquired a new position in Neenah during the fourth quarter worth $14,031,000. Finally, FMR LLC boosted its stake in Neenah by 0.5% during the fourth quarter. FMR LLC now owns 405,600 shares of the basic materials company’s stock worth $23,898,000 after buying an additional 2,056 shares during the last quarter. 94.67% of the stock is currently owned by institutional investors.
NYSE NP traded down $0.57 on Monday, reaching $65.96. 24,671 shares of the company were exchanged, compared to its average volume of 96,990. Neenah Inc has a fifty-two week low of $56.80 and a fifty-two week high of $96.15. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.21 and a current ratio of 2.30. The firm has a market capitalization of $1.12 billion, a P/E ratio of 18.92, a price-to-earnings-growth ratio of 3.54 and a beta of 1.17.
A number of equities analysts have weighed in on the company. Zacks Investment Research lowered Neenah from a “hold” rating to a “sell” rating in a research note on Saturday, February 16th. DA Davidson lowered their price objective on Neenah to $77.00 and set a “positive” rating on the stock in a research note on Wednesday, February 13th.
In other Neenah news, Director John F. Mcgovern sold 4,155 shares of Neenah stock in a transaction on Wednesday, February 20th. The stock was sold at an average price of $70.84, for a total value of $294,340.20. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Larry Newton Brownlee sold 453 shares of Neenah stock in a transaction on Friday, March 15th. The shares were sold at an average price of $63.50, for a total value of $28,765.50. Following the completion of the sale, the vice president now owns 5,166 shares in the company, valued at approximately $328,041. The disclosure for this sale can be found here. Insiders sold 6,047 shares of company stock worth $421,325 in the last 90 days. Company insiders own 1.50% of the company’s stock.
COPYRIGHT VIOLATION WARNING: “Baskin Financial Services Inc. Sells 6,155 Shares of Neenah Inc (NP)” was first posted by Week Herald and is the property of of Week Herald. If you are viewing this story on another website, it was copied illegally and republished in violation of United States & international copyright & trademark law. The original version of this story can be accessed at https://weekherald.com/2019/04/15/baskin-financial-services-inc-sells-6155-shares-of-neenah-inc-np.html.
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.
Further Reading: Why is a lock-up period needed for an IPO?
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.