Neenah Paper, Inc. (NYSE:NP) SVP Matthew L. Duncan sold 1,107 shares of the stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $79.00, for a total transaction of $87,453.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
Neenah Paper, Inc. (NP) traded up 1.00% on Friday, hitting $80.95. 38,926 shares of the company’s stock traded hands. The stock has a 50-day moving average of $78.04 and a 200-day moving average of $77.43. Neenah Paper, Inc. has a one year low of $72.35 and a one year high of $90.23. The stock has a market cap of $1.36 billion, a PE ratio of 18.44 and a beta of 1.30.
Neenah Paper (NYSE:NP) last released its earnings results on Wednesday, August 2nd. The basic materials company reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.14. The business had revenue of $248.70 million during the quarter, compared to analysts’ expectations of $250.88 million. Neenah Paper had a net margin of 7.99% and a return on equity of 21.03%. The company’s quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.26 earnings per share. On average, equities analysts forecast that Neenah Paper, Inc. will post $4.18 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 5th. Stockholders of record on Friday, August 18th were paid a dividend of $0.37 per share. The ex-dividend date was Wednesday, August 16th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.85%. Neenah Paper’s dividend payout ratio is currently 33.71%.
Neenah Paper announced that its board has approved a share repurchase program on Thursday, May 25th that authorizes the company to buyback $25.00 million in shares. This buyback authorization authorizes the basic materials company to reacquire up to 2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.
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Several research firms have commented on NP. BidaskClub raised shares of Neenah Paper from a “strong sell” rating to a “sell” rating in a report on Tuesday, August 15th. Zacks Investment Research downgraded shares of Neenah Paper from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. Finally, ValuEngine downgraded shares of Neenah Paper from a “buy” rating to a “hold” rating in a report on Saturday, May 27th.
Several hedge funds have recently added to or reduced their stakes in the company. Alps Advisors Inc. increased its stake in shares of Neenah Paper by 0.3% during the second quarter. Alps Advisors Inc. now owns 6,431 shares of the basic materials company’s stock worth $516,000 after purchasing an additional 17 shares in the last quarter. Pinebridge Investments L.P. increased its stake in shares of Neenah Paper by 0.8% during the second quarter. Pinebridge Investments L.P. now owns 2,211 shares of the basic materials company’s stock worth $178,000 after purchasing an additional 18 shares in the last quarter. State of Alaska Department of Revenue increased its stake in shares of Neenah Paper by 1.6% during the first quarter. State of Alaska Department of Revenue now owns 1,850 shares of the basic materials company’s stock worth $138,000 after purchasing an additional 30 shares in the last quarter. Texas Permanent School Fund increased its stake in shares of Neenah Paper by 0.7% during the second quarter. Texas Permanent School Fund now owns 12,257 shares of the basic materials company’s stock worth $984,000 after purchasing an additional 90 shares in the last quarter. Finally, Louisiana State Employees Retirement System increased its stake in shares of Neenah Paper by 1.5% during the first quarter. Louisiana State Employees Retirement System now owns 6,800 shares of the basic materials company’s stock worth $508,000 after purchasing an additional 100 shares in the last quarter. 93.04% of the stock is owned by institutional investors and hedge funds.
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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