First Trust Advisors LP Has $767,000 Position in Neenah Paper Inc. (NP)
First Trust Advisors LP decreased its position in shares of Neenah Paper Inc. (NYSE:NP) by 48.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,595 shares of the company’s stock after selling 9,854 shares during the period. First Trust Advisors LP owned 0.06% of Neenah Paper worth $767,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Neumeier Poma Investment Counsel LLC acquired a new stake in shares of Neenah Paper during the first quarter worth $14,720,000. BB&T Corp raised its stake in shares of Neenah Paper by 923.9% in the second quarter. BB&T Corp now owns 74,896 shares of the company’s stock worth $5,419,000 after buying an additional 67,581 shares during the last quarter. James Investment Research Inc. raised its stake in shares of Neenah Paper by 53.2% in the second quarter. James Investment Research Inc. now owns 186,822 shares of the company’s stock worth $13,521,000 after buying an additional 64,852 shares during the last quarter. Emerald Acquisition Ltd. purchased a new stake in shares of Neenah Paper during the second quarter worth approximately $1,674,000. Finally, TIAA CREF Investment Management LLC raised its stake in shares of Neenah Paper by 26.4% in the first quarter. TIAA CREF Investment Management LLC now owns 106,455 shares of the company’s stock worth $6,777,000 after buying an additional 22,210 shares during the last quarter. 88.73% of the stock is owned by institutional investors.
Neenah Paper Inc. (NYSE:NP) traded down 1.65% during trading on Friday, hitting $79.40. The stock had a trading volume of 86,314 shares. Neenah Paper Inc. has a 52 week low of $52.70 and a 52 week high of $82.24. The company has a market cap of $1.33 billion, a price-to-earnings ratio of 23.65 and a beta of 1.45. The company has a 50-day moving average of $78.83 and a 200 day moving average of $71.79.
Neenah Paper (NYSE:NP) last released its earnings results on Wednesday, August 3rd. The company reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.12. The firm earned $246 million during the quarter, compared to the consensus estimate of $250.55 million. Neenah Paper had a return on equity of 22.41% and a net margin of 6.04%. The company’s revenue was up 16.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.97 EPS. On average, equities research analysts anticipate that Neenah Paper Inc. will post $4.38 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 12th. Investors of record on Friday, September 2nd were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.66%. Neenah Paper’s dividend payout ratio is currently 39.40%.
Several research firms have recently issued reports on NP. Zacks Investment Research upgraded 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.
In related news, VP Larry Newton Brownlee sold 368 shares of the company’s stock in a transaction on Wednesday, August 31st. The stock was sold at an average price of $80.56, for a total transaction of $29,646.08. Following the completion of the sale, the vice president now directly owns 368 shares in the company, valued at approximately $29,646.08. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Julie Schertell sold 1,400 shares of the company’s stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $76.00, for a total value of $106,400.00. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.
About Neenah Paper
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).
Want to see what other hedge funds are holding NP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Neenah Paper Inc. (NYSE:NP).
Receive News & Ratings for Neenah Paper Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Neenah Paper Inc. and related companies with MarketBeat.com's FREE daily email newsletter.