Shares of Neenah Paper Inc. (NYSE:NP) hit a new 52-week high on Monday . The company traded as high as $76.97 and last traded at $75.89, with a volume of 17,805 shares changing hands. The stock had previously closed at $76.32.

Separately, Zacks Investment Research lowered Neenah Paper from a “hold” rating to a “sell” rating in a research report on Tuesday, March 22nd.

The company has a 50 day moving average price of $71.44 and a 200 day moving average price of $64.19. The stock has a market capitalization of $1.28 billion and a PE ratio of 24.288.

Neenah Paper (NYSE:NP) last released its quarterly earnings results on Wednesday, May 11th. The company reported $1.15 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.09 by $0.06. The firm earned $242.10 million during the quarter, compared to the consensus estimate of $244.90 million. During the same quarter last year, the firm earned $0.95 earnings per share. The business’s revenue for the quarter was up 12.9% compared to the same quarter last year. Equities research analysts anticipate that Neenah Paper Inc. will post $4.25 EPS for the current year.

In other news, SVP James R. Piedmonte sold 2,390 shares of the company’s stock in a transaction on Friday, May 13th. The stock was sold at an average price of $68.00, for a total transaction of $162,520.00. Following the completion of the sale, the senior vice president now directly owns 2,390 shares in the company, valued at approximately $162,520. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Timothy S. Lucas sold 1,493 shares of the company’s stock in a transaction on Tuesday, June 7th. The shares were sold at an average price of $71.09, for a total value of $106,137.37. Following the sale, the director now owns 649 shares of the company’s stock, valued at $46,137.41. The disclosure for this sale can be found here.

Other hedge funds recently added to or reduced their stakes in the company. California State Teachers Retirement System increased its stake in Neenah Paper by 1.3% in the fourth quarter. California State Teachers Retirement System now owns 30,946 shares of the company’s stock worth $1,932,000 after buying an additional 400 shares during the last quarter. California Public Employees Retirement System increased its stake in Neenah Paper by 1.7% in the fourth quarter. California Public Employees Retirement System now owns 42,500 shares of the company’s stock worth $2,653,000 after buying an additional 700 shares during the last quarter. Rhumbline Advisers increased its stake in Neenah Paper by 4.2% in the fourth quarter. Rhumbline Advisers now owns 34,011 shares of the company’s stock worth $2,123,000 after buying an additional 1,370 shares during the last quarter. Principal Financial Group Inc. increased its stake in Neenah Paper by 4.6% in the fourth quarter. Principal Financial Group Inc. now owns 115,141 shares of the company’s stock worth $7,189,000 after buying an additional 5,094 shares during the last quarter. Finally, First Trust Advisors LP increased its stake in Neenah Paper by 79.7% in the fourth quarter. First Trust Advisors LP now owns 26,031 shares of the company’s stock worth $1,625,000 after buying an additional 11,548 shares during the last quarter.

Neenah Paper, Inc (Neenah) has two primary businesses: technical products business, and fine paper and packaging business. The Company’s technical products business is engaged in the production of filter media for transportation, water and other markets, and saturated and coated substrates for industrial products backings and a variety of other end markets.

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