Neenah Paper, Inc. (NP) Position Decreased by Neumeier Poma Investment Counsel LLC

Neumeier Poma Investment Counsel LLC reduced its position in shares of Neenah Paper, Inc. (NYSE:NP) by 2.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 345,925 shares of the basic materials company’s stock after selling 9,775 shares during the period. Neenah Paper accounts for about 3.2% of Neumeier Poma Investment Counsel LLC’s holdings, making the stock its 12th biggest position. Neumeier Poma Investment Counsel LLC owned approximately 2.06% of Neenah Paper worth $27,760,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Alps Advisors Inc. increased its holdings in 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 buying an additional 17 shares during the last quarter. Texas Permanent School Fund increased its holdings in 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 buying an additional 90 shares during the last quarter. Arizona State Retirement System increased its holdings in Neenah Paper by 1.2% during the first quarter. Arizona State Retirement System now owns 8,748 shares of the basic materials company’s stock worth $653,000 after buying an additional 100 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. increased its holdings in Neenah Paper by 0.4% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 27,018 shares of the basic materials company’s stock worth $2,168,000 after buying an additional 100 shares during the last quarter. Finally, Gotham Asset Management LLC increased its holdings in Neenah Paper by 1.1% during the first quarter. Gotham Asset Management LLC now owns 12,738 shares of the basic materials company’s stock worth $952,000 after buying an additional 139 shares during the last quarter. 93.04% of the stock is currently owned by institutional investors.

A number of research firms recently issued reports on NP. BidaskClub upgraded 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.

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In other news, SVP James R. Piedmonte sold 447 shares of the company’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $83.50, for a total transaction of $37,324.50. Following the completion of the sale, the senior vice president now owns 2,883 shares of the company’s stock, valued at approximately $240,730.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Bonnie Cruickshank Lind sold 1,500 shares of the company’s stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $80.00, for a total transaction of $120,000.00. Following the sale, the chief financial officer now directly owns 28,574 shares of the company’s stock, valued at approximately $2,285,920. The disclosure for this sale can be found here. Insiders have sold a total of 8,837 shares of company stock worth $706,512 in the last 90 days. Company insiders own 2.00% of the company’s stock.

Neenah Paper, Inc. (NP) traded up 0.87% during mid-day trading on Friday, reaching $80.85. 141,502 shares of the company were exchanged. Neenah Paper, Inc. has a one year low of $72.35 and a one year high of $90.23. The company has a market capitalization of $1.36 billion, a PE ratio of 18.42 and a beta of 1.30. The stock has a 50-day moving average price of $78.04 and a 200 day moving average price of $77.47.

Neenah Paper (NYSE:NP) last posted its earnings results on Wednesday, August 2nd. The basic materials company reported $1.22 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.14. The business had revenue of $248.70 million for 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 business’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.26 EPS. Analysts predict that Neenah Paper, Inc. will post $4.18 EPS for the current year.

Neenah Paper announced that its board has approved a stock buyback plan on Thursday, May 25th that allows the company to buyback $25.00 million in shares. This buyback authorization allows the basic materials company to buy up to 2% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its shares are undervalued.

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 5th. Shareholders of record on Friday, August 18th were paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.83%. The ex-dividend date of this dividend was Wednesday, August 16th. Neenah Paper’s dividend payout ratio is currently 33.71%.

Neenah Paper Company Profile

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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Institutional Ownership by Quarter for Neenah Paper (NYSE:NP)

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