Neenah Paper, Inc. (NYSE:NP) Lowered to “Strong Sell” at BidaskClub

BidaskClub lowered shares of Neenah Paper, Inc. (NYSE:NP) from a sell rating to a strong sell rating in a report issued on Thursday, June 29th.

Other equities analysts have also recently issued research reports about the company. ValuEngine cut Neenah Paper from a buy rating to a hold rating in a research note on Saturday, May 27th. Zacks Investment Research cut Neenah Paper from a hold rating to a sell rating in a research note on Tuesday, May 16th.

Neenah Paper (NYSE NP) traded down 0.86% during midday trading on Thursday, hitting $80.35. 65,232 shares of the company’s stock traded hands. The company has a market capitalization of $1.35 billion, a PE ratio of 19.33 and a beta of 1.30. Neenah Paper has a 52 week low of $72.35 and a 52 week high of $90.22. The company has a 50 day moving average of $79.70 and a 200-day moving average of $78.22.

Neenah Paper (NYSE:NP) last issued its quarterly earnings results on Wednesday, May 10th. The basic materials company reported $1.03 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.11 by $0.08. The company had revenue of $242.10 million during the quarter, compared to analysts’ expectations of $243.35 million. Neenah Paper had a return on equity of 21.77% and a net margin of 7.51%. The company’s revenue for the quarter was up .0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.15 EPS. Equities research analysts predict that Neenah Paper will post $4.04 earnings per share for the current year.

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Neenah Paper declared that its board has authorized a stock buyback plan on Thursday, May 25th that allows the company to buyback $25.00 million in outstanding shares. This buyback authorization allows the basic materials company to reacquire up to 2% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

In other Neenah Paper news, CFO Bonnie Cruickshank Lind sold 1,500 shares of Neenah Paper stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $81.00, for a total transaction of $121,500.00. Following the transaction, the chief financial officer now owns 2,519 shares of the company’s stock, valued at approximately $204,039. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP James R. Piedmonte sold 369 shares of Neenah Paper stock in a transaction dated Friday, July 21st. The shares were sold at an average price of $81.50, for a total value of $30,073.50. Following the transaction, the senior vice president now directly owns 2,801 shares in the company, valued at approximately $228,281.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 8,448 shares of company stock worth $679,138. Company insiders own 2.00% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in NP. Ameritas Investment Partners Inc. acquired a new position in Neenah Paper during the first quarter valued at $107,000. Elkfork Partners LLC acquired a new position in Neenah Paper during the fourth quarter valued at $116,000. Bank of Montreal Can boosted its position in Neenah Paper by 17.3% in the first quarter. Bank of Montreal Can now owns 1,808 shares of the basic materials company’s stock valued at $135,000 after buying an additional 267 shares during the period. State of Alaska Department of Revenue boosted its position in Neenah Paper by 1.6% in the first quarter. State of Alaska Department of Revenue now owns 1,850 shares of the basic materials company’s stock valued at $138,000 after buying an additional 30 shares during the period. Finally, Trexquant Investment LP acquired a new position in Neenah Paper during the fourth quarter valued at $204,000. 91.35% of the stock is currently owned by institutional investors.

About Neenah Paper

Neenah Paper, Inc is a producer of technical products and premium fine papers and packaging. The Company has two primary businesses: technical products business, and fine paper and packaging business. Its segments consist of Technical Products, Fine Paper and Packaging, and Other. The technical products business is an international producer of transportation, water and other filter media and durable, saturated and coated substrates.

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