Neenah Inc (NYSE:NP) saw a significant increase in short interest in the month of July. As of July 15th, there was short interest totalling 456,100 shares, an increase of 18.5% from the June 15th total of 385,000 shares. Based on an average trading volume of 78,700 shares, the days-to-cover ratio is presently 5.8 days. Currently, 2.8% of the shares of the stock are short sold.

Shares of NYSE:NP traded up $0.12 during midday trading on Friday, hitting $63.85. 48,156 shares of the stock were exchanged, compared to its average volume of 86,232. The company has a market capitalization of $1.08 billion, a PE ratio of 18.24, a P/E/G ratio of 4.08 and a beta of 1.34. 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 has a twelve month low of $56.67 and a twelve month high of $96.15. The firm has a 50 day simple moving average of $64.04.

Neenah (NYSE:NP) last released its quarterly 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 business had revenue of $239.70 million during the quarter, compared to the consensus estimate of $262.00 million. Neenah had a return on equity of 13.71% and a net margin of 3.17%. The business’s revenue was down 10.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.04 EPS. As a group, sell-side analysts anticipate that Neenah will post 3.13 earnings per share for the current year.

In other Neenah news, VP Larry Newton Brownlee sold 5,000 shares of the firm’s stock in a transaction 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 completion of 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 filing with the SEC, which is available through this hyperlink. 1.60% of the stock is currently owned by company insiders.

A number of hedge funds have recently made changes to their positions in NP. Norges Bank acquired a new position in Neenah in the 4th quarter valued at about $14,031,000. Ceredex Value Advisors LLC raised its stake in Neenah by 40.4% in the 1st quarter. Ceredex Value Advisors LLC now owns 302,770 shares of the basic materials company’s stock valued at $19,486,000 after purchasing an additional 87,114 shares during the last quarter. Wells Fargo & Company MN raised its stake in Neenah by 6.4% in the 1st quarter. Wells Fargo & Company MN now owns 1,222,695 shares of the basic materials company’s stock valued at $78,693,000 after purchasing an additional 73,669 shares during the last quarter. Granite Investment Partners LLC raised its stake in Neenah by 22.6% in the 1st 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, Copeland Capital Management LLC grew its holdings in Neenah by 19.8% in the 2nd quarter. Copeland Capital Management LLC now owns 220,693 shares of the basic materials company’s stock valued at $14,908,000 after buying an additional 36,530 shares during the period. 92.34% of the stock is owned by hedge funds and other institutional investors.

A number of research firms have commented on NP. ValuEngine downgraded Zumiez from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Zacks Investment Research downgraded GENEL ENERGY PL/ADR from a “hold” rating to a “sell” rating in a research note on Thursday, July 4th.

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.

See Also: Hedge Funds

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