State Board of Administration of Florida Retirement System Continues to Hold Position in Neenah Paper Inc. (NP)
State Board of Administration of Florida Retirement System held its stake in Neenah Paper Inc. (NYSE:NP) during the second quarter, Holdings Channel reports. The institutional investor owned 9,891 shares of the company’s stock at the end of the second quarter. State Board of Administration of Florida Retirement System owned about 0.06% of Neenah Paper worth $716,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Bank of Montreal Can acquired a new position in shares of Neenah Paper during the second quarter worth about $112,000. Creative Planning increased its position in shares of Neenah Paper by 1.7% in the second quarter. Creative Planning now owns 1,689 shares of the company’s stock worth $122,000 after buying an additional 29 shares during the period. Cutler Group LP increased its position in shares of Neenah Paper by 44.4% in the first quarter. Cutler Group LP now owns 2,455 shares of the company’s stock worth $156,000 after buying an additional 755 shares during the period. Sawgrass Asset Management LLC acquired a new position in shares of Neenah Paper during the second quarter worth about $215,000. Finally, Aviance Capital Management LLC increased its position in shares of Neenah Paper by 11.3% in the second quarter. Aviance Capital Management LLC now owns 3,927 shares of the company’s stock worth $284,000 after buying an additional 400 shares during the period. 88.73% of the stock is owned by institutional investors.
Neenah Paper Inc. (NYSE:NP) traded down 0.06% during trading on Friday, reaching $79.01. The company had a trading volume of 245,979 shares. The company has a 50-day moving average of $78.23 and a 200-day moving average of $71.16. Neenah Paper Inc. has a 52-week low of $52.70 and a 52-week high of $82.24. The firm has a market capitalization of $1.33 billion, a P/E ratio of 23.54 and a beta of 1.57.
Neenah Paper (NYSE:NP) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $1.26 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.14 by $0.12. The firm earned $246 million during the quarter, compared to analyst estimates of $250.55 million. Neenah Paper had a return on equity of 22.41% and a net margin of 6.04%. Neenah Paper’s quarterly revenue was up 16.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.97 earnings per share. Analysts expect that Neenah Paper Inc. will post $4.38 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 2nd. Investors of record on Friday, August 12th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.67%. The ex-dividend date was Wednesday, August 10th. Neenah Paper’s dividend payout ratio is currently 39.40%.
A number of equities analysts have recently issued reports 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 note on Tuesday, August 9th. DA Davidson downgraded Neenah Paper from a “buy” rating to a “neutral” rating and set a $78.00 target price for the company. in a research note on Friday, August 5th. They noted that the move was a valuation call.
In other Neenah Paper news, SVP James R. Piedmonte sold 10,000 shares of Neenah Paper stock in a transaction that occurred on Friday, September 9th. The stock was sold at an average price of $79.60, for a total value of $796,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Larry Newton Brownlee sold 368 shares of Neenah Paper stock in a transaction that occurred on Wednesday, August 31st. The shares were sold at an average price of $80.56, for a total value of $29,646.08. Following the completion of the transaction, the vice president now owns 368 shares of the company’s stock, valued at $29,646.08. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.
Neenah Paper Company Profile
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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