Neenah Paper Inc. (NP) Reaches New 12-Month High at $74.75
Neenah Paper Inc. (NYSE:NP)’s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $74.75 and last traded at $74.55, with a volume of 24,362 shares changing hands. The stock had previously closed at $73.56.
Separately, Zacks Investment Research cut Neenah Paper from a “hold” rating to a “sell” rating in a research report on Friday, April 8th.
The stock has a 50-day moving average of $70.98 and a 200-day moving average of $64.01. The firm has a market cap of $1.26 billion and a P/E ratio of 23.92.
Neenah Paper (NYSE:NP) last issued its earnings results on Wednesday, May 11th. The company reported $1.15 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.09 by $0.06. The business had revenue of $242.10 million for the quarter, compared to the consensus estimate of $244.90 million. During the same quarter in the previous year, the business posted $0.95 earnings per share. The company’s quarterly revenue was up 12.9% on a year-over-year basis. On average, equities analysts forecast that Neenah Paper Inc. will post $4.25 earnings per share for the current fiscal year.
In related news, VP Larry Newton Brownlee sold 525 shares of the firm’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 value of $36,681.75. Following the completion of the transaction, the vice president now owns 525 shares of the company’s stock, valued at approximately $36,681.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Stephen Michael Wood sold 1,870 shares of the firm’s stock in a transaction that occurred on Monday, April 18th. The stock was sold at an average price of $65.00, for a total transaction of $121,550.00. Following the completion of the transaction, the director now directly owns 1,870 shares of the company’s stock, valued at approximately $121,550. The disclosure for this sale can be found here.
A number of institutional investors have recently bought and sold shares of the company. WBI Investments Inc. purchased a new position in Neenah Paper during the fourth quarter worth approximately $1,089,000. First Trust Advisors LP raised its position in Neenah Paper by 79.7% in the fourth quarter. First Trust Advisors LP now owns 26,031 shares of the company’s stock worth $1,625,000 after buying an additional 11,548 shares in the last quarter. California State Teachers Retirement System raised its position in Neenah Paper by 1.3% in the fourth quarter. California State Teachers Retirement System now owns 30,946 shares of the company’s stock worth $1,932,000 after buying an additional 400 shares in the last quarter. Rhumbline Advisers raised its position in Neenah Paper by 4.2% in the fourth quarter. Rhumbline Advisers now owns 34,011 shares of the company’s stock worth $2,123,000 after buying an additional 1,370 shares in the last quarter. Finally, California Public Employees Retirement System raised its position in Neenah Paper by 1.7% in the fourth quarter. California Public Employees Retirement System now owns 42,500 shares of the company’s stock worth $2,653,000 after buying an additional 700 shares in the last quarter.
Neenah Paper, Inc (Neenah) has two primary businesses: technical products business, and fine paper and packaging business. The Company’s technical products business is engaged in the production of filter media for transportation, water and other markets, and saturated and coated substrates for industrial products backings and a variety of other end markets.
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