Neenah Paper Inc. (NP) Trading Down 2.3%
Neenah Paper Inc. (NYSE:NP)’s share price dropped 2.3% during mid-day 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 subject of several research analyst reports. Zacks Investment Research upgraded Neenah Paper from a “hold” rating to a “buy” rating and set a $76.00 price objective for the company in a research report on Monday, May 16th. DA Davidson downgraded 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 P/E ratio of 24.06. The firm has a 50 day moving average price of $73.53 and a 200-day moving average price of $65.86.
Neenah Paper (NYSE:NP) last released 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. During the same period last year, the business earned $0.97 EPS. The firm had revenue of $246 million for the quarter, compared to analyst estimates of $250.55 million. The company’s revenue was up 16.4% compared to the same quarter last year. Analysts forecast that Neenah Paper Inc. will post $4.25 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 2nd. Investors of record on Friday, August 12th will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.75%. The ex-dividend date of this dividend is Wednesday, August 10th.
In related news, VP Larry Newton Brownlee sold 525 shares of the firm’s stock in a transaction on Friday, June 3rd. The stock was sold at an average price of $69.87, for a total transaction of $36,681.75. Following the completion of the transaction, the vice president now directly owns 525 shares of the company’s stock, valued at approximately $36,681.75. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Steven S. Heinrichs sold 7,870 shares of the firm’s stock in a transaction on Thursday, May 26th. The stock was sold at an average price of $68.20, for a total value of $536,734.00. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors recently made changes to their positions in the company. WBI Investments Inc. bought a new position in shares of Neenah Paper during the fourth quarter valued at about $1,089,000. First Trust Advisors LP raised its position in shares of Neenah Paper by 79.7% in the fourth quarter. First Trust Advisors LP now owns 26,031 shares of the company’s stock valued at $1,625,000 after buying an additional 11,548 shares in the last quarter. California State Teachers Retirement System raised its position in shares of Neenah Paper by 1.3% in the fourth quarter. California State Teachers Retirement System now owns 30,946 shares of the company’s stock valued at $1,932,000 after buying an additional 400 shares in the last quarter. Rhumbline Advisers raised its position 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 in the last quarter. Finally, California Public Employees Retirement System raised its position 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 in the last quarter.
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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