Neenah Paper Inc. (NP) Reaches New 12-Month High at $79.62
Neenah Paper Inc. (NYSE:NP)’s share price hit a new 52-week high on Tuesday . The company traded as high as $79.62 and last traded at $79.50, with a volume of 20,621 shares traded. The stock had previously closed at $78.65.
A number of brokerages have recently weighed in on NP. Zacks Investment Research cut shares of Neenah Paper from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 13th. DA Davidson cut shares of Neenah Paper from a “buy” rating to a “neutral” rating and set a $78.00 price target on the stock. in a research report on Friday, August 5th. They noted that the move was a valuation call.
The firm has a 50-day moving average price of $75.77 and a 200 day moving average price of $68.11. The stock has a market cap of $1.34 billion and a P/E ratio of 23.71.
Neenah Paper (NYSE:NP) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $1.26 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.14 by $0.12. During the same period last year, the company posted $0.97 EPS. The firm had revenue of $246 million for the quarter, compared to the consensus estimate of $250.55 million. The business’s revenue was up 16.4% on a year-over-year basis. Equities analysts anticipate that Neenah Paper Inc. will post $4.38 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 2nd. Investors of record on Friday, August 12th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date of this dividend is Wednesday, August 10th.
In other Neenah Paper news, SVP Julie Schertell sold 1,400 shares of the company’s stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $76.00, for a total value of $106,400.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Larry Newton Brownlee sold 525 shares of the company’s stock in a transaction that occurred on Friday, June 3rd. The shares were sold at an average price of $69.87, for a total transaction of $36,681.75. Following the completion of the transaction, the vice president now owns 525 shares of the company’s stock, valued at $36,681.75. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Neenah Paper stock. California Public Employees Retirement System raised its stake in shares of Neenah Paper Inc. (NYSE:NP) by 1.7% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 42,500 shares of the company’s stock after buying an additional 700 shares during the period. California Public Employees Retirement System owned approximately 0.25% of Neenah Paper worth $2,653,000 at the end of the most recent quarter.
Neenah Paper, Inc has two principal operations, technical products business, and fine paper and packaging business. The Company’s segments consist of Technical Products, Fine Paper and Packaging, and Other. The technical products business is an international producer of fiber-formed, coated and/or saturated specialized media, which includes filtration media (Filtration), tape and abrasives backings products (Backings), and durable label and specialty substrate products (Specialty).
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