Neenah Paper Inc. (NP) Sees Unusually-High Trading Volume
Shares of Neenah Paper Inc. (NYSE:NP) saw strong trading volume on Wednesday . 130,900 shares changed hands during mid-day trading, an increase of 30% from the previous session’s volume of 100,808 shares.The stock last traded at $80.50 and had previously closed at $79.87.
A number of analysts recently commented on the company. Zacks Investment Research raised Neenah Paper from a “hold” rating to a “buy” rating and set a $85.00 target price for the company in a research report on Tuesday, August 9th. DA Davidson lowered Neenah Paper from a “buy” rating to a “neutral” rating and set a $78.00 target price for the company. in a research report on Friday, August 5th. They noted that the move was a valuation call.
The company has a 50 day moving average price of $76.11 and a 200 day moving average price of $68.37. The company has a market capitalization of $1.35 billion and a PE ratio of 23.96.
Neenah Paper (NYSE:NP) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $1.26 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.14 by $0.12. During the same period last year, the business posted $0.97 earnings per share. The company had revenue of $246 million for the quarter, compared to the consensus estimate of $250.55 million. The firm’s quarterly revenue was up 16.4% compared to the same quarter last year. On average, equities research analysts predict that Neenah Paper Inc. will post $4.38 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 2nd. Stockholders of record on Friday, August 12th will be paid a dividend of $0.33 per share. The ex-dividend date is Wednesday, August 10th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.64%.
In other news, CFO Bonnie Cruickshank Lind sold 4,348 shares of the firm’s stock in a transaction dated Tuesday, June 7th. The stock was sold at an average price of $71.12, for a total transaction of $309,229.76. Following the transaction, the chief financial officer now directly owns 1,348 shares of the company’s stock, valued at $95,869.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Timothy S. Lucas sold 1,493 shares of the firm’s stock in a transaction dated Tuesday, June 7th. The shares were sold at an average price of $71.09, for a total value of $106,137.37. Following the transaction, the director now directly owns 649 shares in the company, valued at $46,137.41. The disclosure for this sale can be found here.
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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