Neenah Paper Inc. (NP) Stock Price Down 2.3%
Neenah Paper Inc. (NYSE:NP)’s share price dropped 2.3% during trading on Friday . The stock traded as low as $75.93 and last traded at $75.94, with a volume of 81,878 shares trading hands. The stock had previously closed at $77.72.
NP has been the topic of several research reports. Zacks Investment Research upgraded shares of Neenah Paper from a “hold” rating to a “buy” rating and set a $76.00 price target on the stock in a research note on Monday, May 16th. DA Davidson cut shares of Neenah Paper from a “buy” rating to a “neutral” rating and set a $78.00 price objective for the company. in a research report on Friday. They noted that the move was a valuation call.
The stock has a market capitalization of $1.26 billion and a price-to-earnings ratio of 24.06. The firm has a 50 day moving average of $73.53 and a 200-day moving average of $65.86.
Neenah Paper (NYSE:NP) last issued its quarterly earnings data 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. The company had revenue of $246 million for the quarter, compared to the consensus estimate of $250.55 million. During the same quarter last year, the business posted $0.97 earnings per share. Neenah Paper’s revenue was up 16.4% on a year-over-year basis. Equities analysts expect that Neenah Paper Inc. will post $4.25 EPS for the current fiscal year.
The firm also recently announced 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. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date of this dividend is Wednesday, August 10th.
In other news, Director Timothy S. Lucas sold 1,493 shares of Neenah Paper stock in a transaction on Tuesday, June 7th. The stock was sold at an average price of $71.09, for a total transaction of $106,137.37. Following the sale, the director now directly owns 649 shares in the company, valued at approximately $46,137.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Larry Newton Brownlee sold 714 shares of Neenah Paper stock in a transaction on Wednesday, June 8th. The stock was sold at an average price of $73.11, for a total value of $52,200.54. Following the sale, the vice president now owns 472 shares in the company, valued at $34,507.92. The disclosure for this sale can be found here.
A number of large investors have recently made changes to their positions in the company. WBI Investments Inc. purchased a new stake in shares of Neenah Paper during the fourth quarter valued at $1,089,000. Principal Financial Group Inc. raised its stake in shares of Neenah Paper by 4.6% in the fourth quarter. Principal Financial Group Inc. now owns 115,141 shares of the company’s stock valued at $7,189,000 after buying an additional 5,094 shares during the period. Morgan Stanley raised its stake in shares of Neenah Paper by 15.6% in the fourth quarter. Morgan Stanley now owns 158,072 shares of the company’s stock valued at $9,867,000 after buying an additional 21,285 shares during the period. California Public Employees Retirement System raised its stake in shares of Neenah Paper by 1.7% in the fourth quarter. California Public Employees Retirement System now owns 42,500 shares of the company’s stock valued at $2,653,000 after buying an additional 700 shares during the period. Finally, Rhumbline Advisers raised its stake in shares of Neenah Paper by 4.2% in the fourth quarter. Rhumbline Advisers now owns 34,011 shares of the company’s stock valued at $2,123,000 after buying an additional 1,370 shares during the period.
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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