Mason Street Advisors LLC Purchases Shares of 3,272 Neenah Paper Inc. (NP)
Mason Street Advisors LLC purchased a new position in Neenah Paper Inc. (NYSE:NP) during the second quarter, Holdings Channel reports. The firm purchased 3,272 shares of the company’s stock, valued at approximately $237,000.
Several other large investors have also added to or reduced their stakes in the company. Exchange Capital Management Inc. bought a new position in Neenah Paper during the second quarter valued at $101,000. Bank of Montreal Can bought a new position in Neenah Paper during the second quarter valued at $112,000. Creative Planning raised its position in Neenah Paper by 1.7% in the second quarter. Creative Planning now owns 1,689 shares of the company’s stock valued at $122,000 after buying an additional 29 shares during the period. BlackRock Inc. raised its position in Neenah Paper by 76.6% in the second quarter. BlackRock Inc. now owns 1,907 shares of the company’s stock valued at $137,000 after buying an additional 827 shares during the period. Finally, PineBridge Investments L.P. raised its position in Neenah Paper by 3.7% in the second quarter. PineBridge Investments L.P. now owns 2,122 shares of the company’s stock valued at $153,000 after buying an additional 75 shares during the period. 88.73% of the stock is currently owned by institutional investors.
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 the consensus estimate of $1.14 by $0.12. Neenah Paper had a net margin of 6.04% and a return on equity of 22.41%. The firm earned $246 million during the quarter, compared to analyst estimates of $250.55 million. During the same quarter in the previous year, the firm earned $0.97 earnings per share. The firm’s revenue for the quarter was up 16.4% compared to the same quarter last year.
The firm also recently announced a quarterly dividend, which was paid on Monday, September 12th. Shareholders of record on Friday, September 2nd were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.65%. Neenah Paper’s payout ratio is 39.40%.
Several research analysts have weighed in on the company. Zacks Investment Research lowered Neenah Paper from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 13th. DA Davidson lowered 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.
In other Neenah Paper news, SVP James R. Piedmonte sold 10,000 shares of the business’s stock in a transaction on Friday, September 9th. The shares were sold at an average price of $79.60, for a total transaction of $796,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Julie Schertell sold 1,400 shares of the business’s stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $76.00, for a total transaction of $106,400.00. The disclosure for this sale can be found here. Company 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).
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