California State Teachers Retirement System reduced its stake in Neenah Paper, Inc. (NYSE:NP) by 9.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 29,470 shares of the basic materials company’s stock after selling 3,238 shares during the quarter. California State Teachers Retirement System owned 0.18% of Neenah Paper worth $2,365,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Riverhead Capital Management LLC lifted its holdings in shares of Neenah Paper by 83.1% in the 2nd quarter. Riverhead Capital Management LLC now owns 1,465 shares of the basic materials company’s stock worth $117,000 after acquiring an additional 665 shares during the last quarter. Bruderman Asset Management LLC acquired a new stake in Neenah Paper during the 2nd quarter worth approximately $127,000. Pinebridge Investments L.P. lifted its holdings in Neenah Paper by 0.8% during the 2nd quarter. Pinebridge Investments L.P. now owns 2,211 shares of the basic materials company’s stock worth $178,000 after buying an additional 18 shares in the last quarter. Everence Capital Management Inc. acquired a new stake in Neenah Paper during the 2nd quarter worth approximately $201,000. Finally, Beck Mack & Oliver LLC acquired a new stake in Neenah Paper during the 2nd quarter worth approximately $213,000. Hedge funds and other institutional investors own 89.59% of the company’s stock.
A number of equities research analysts have issued reports on the stock. DA Davidson reiterated a “neutral” rating on shares of Neenah Paper in a report on Thursday. BidaskClub upgraded shares of Neenah Paper from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. Finally, Zacks Investment Research lowered shares of Neenah Paper from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th.
Shares of Neenah Paper, Inc. (NYSE NP) opened at $84.55 on Monday. The stock has a market cap of $1,421.99, a P/E ratio of 19.35, a price-to-earnings-growth ratio of 4.05 and a beta of 1.26. Neenah Paper, Inc. has a fifty-two week low of $72.35 and a fifty-two week high of $90.23. The company has a current ratio of 2.52, a quick ratio of 1.44 and a debt-to-equity ratio of 0.56.
Neenah Paper (NYSE:NP) last released its earnings results on Tuesday, November 7th. The basic materials company reported $1.02 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.01. The company had revenue of $245.10 million for the quarter, compared to analyst estimates of $240.60 million. Neenah Paper had a net margin of 8.13% and a return on equity of 20.48%. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.99 EPS. equities analysts predict that Neenah Paper, Inc. will post 4.18 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 4th. Shareholders of record on Friday, November 17th will be issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $1.48 dividend on an annualized basis and a yield of 1.75%. Neenah Paper’s dividend payout ratio (DPR) is presently 32.60%.
In other Neenah Paper news, SVP Matthew L. Duncan sold 311 shares of the stock in a transaction that occurred on Wednesday, September 20th. The shares were sold at an average price of $82.00, for a total value of $25,502.00. Following the sale, the senior vice president now directly owns 1,963 shares of the company’s stock, valued at approximately $160,966. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Steven S. Heinrichs sold 2,744 shares of the stock in a transaction that occurred on Wednesday, September 27th. The shares were sold at an average price of $85.00, for a total transaction of $233,240.00. Following the completion of the sale, the senior vice president now directly owns 18,293 shares in the company, valued at $1,554,905. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,162 shares of company stock worth $499,615. 2.00% of the stock is owned by company insiders.
Neenah Paper 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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