Neenah Paper Inc. (NP) Sets New 1-Year High at $76.97
Neenah Paper Inc. (NYSE:NP) shares reached a new 52-week high during trading 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 upgraded Neenah Paper from a “hold” rating to a “buy” rating and set a $76.00 price objective on the stock in a report on Monday, May 16th.
The stock has a market cap of $1.26 billion and a PE ratio of 24.07. The stock has a 50-day moving average price of $71.76 and a 200-day moving average price of $64.38.
Neenah Paper (NYSE:NP) last posted its quarterly earnings results on Wednesday, May 11th. The company reported $1.15 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.09 by $0.06. During the same period last year, the firm posted $0.95 EPS. The firm had revenue of $242.10 million for the quarter, compared to analysts’ expectations of $244.90 million. Neenah Paper’s revenue was up 12.9% on a year-over-year basis. Analysts expect that Neenah Paper Inc. will post $4.25 earnings per share for the current fiscal year.
In other Neenah Paper news, VP Larry Newton Brownlee sold 714 shares of the business’s stock in a transaction dated Wednesday, June 8th. The stock was sold at an average price of $73.11, for a total transaction of $52,200.54. Following the transaction, the vice president now owns 472 shares in the company, valued at $34,507.92. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Timothy S. Lucas sold 1,493 shares of the business’s stock in a transaction dated Tuesday, June 7th. The stock was sold at an average price of $71.09, for a total value of $106,137.37. Following the transaction, the director now owns 649 shares in the company, valued at approximately $46,137.41. The disclosure for this sale can be found here.
Other hedge funds and institutional investors recently modified their holdings of the company. WBI Investments Inc. bought a new position in shares of Neenah Paper during the fourth quarter worth approximately $1,089,000. First Trust Advisors LP boosted its position in Neenah Paper by 79.7% in the fourth quarter. First Trust Advisors LP now owns 26,031 shares of the company’s stock valued at $1,625,000 after buying an additional 11,548 shares during the period. California State Teachers Retirement System boosted its position 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 valued at $1,932,000 after buying an additional 400 shares during the period. Rhumbline Advisers boosted its position in Neenah Paper by 4.2% in the fourth quarter. Rhumbline Advisers now owns 34,011 shares of the company’s stock valued at $2,123,000 after buying an additional 1,370 shares during the period. Finally, California Public Employees Retirement System boosted its position 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 valued at $2,653,000 after buying an additional 700 shares during the period.
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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