Neenah Paper Inc. (NP) Sets New 52-Week High at $79.62
Neenah Paper Inc. (NYSE:NP) shares reached a new 52-week high on Tuesday . The company traded as high as $79.62 and last traded at $79.50, with a volume of 20,621 shares changing hands. The stock had previously closed at $78.65.
A number of research analysts have recently weighed in on the company. DA Davidson lowered Neenah Paper from a “buy” rating to a “neutral” rating and set a $78.00 target price on the stock. in a report on Friday, August 5th. They noted that the move was a valuation call. Zacks Investment Research upgraded Neenah Paper from a “hold” rating to a “buy” rating and set a $85.00 target price on the stock in a report on Tuesday, August 9th.
The firm’s 50-day moving average price is $76.11 and its 200-day moving average price is $68.37. The company has a market cap of $1.35 billion and a P/E ratio of 23.96.
Neenah Paper (NYSE:NP) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $1.26 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.14 by $0.12. The business earned $246 million during the quarter, compared to analysts’ expectations of $250.55 million. During the same quarter in the previous year, the company posted $0.97 EPS. The company’s quarterly revenue was up 16.4% on a year-over-year basis. Equities research analysts forecast that Neenah Paper Inc. will post $4.38 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 2nd. Shareholders of record on Friday, August 12th will be paid a $0.33 dividend. The ex-dividend date is Wednesday, August 10th. This represents a $1.32 dividend on an annualized basis and a yield of 1.64%.
In other news, CFO Bonnie Cruickshank Lind sold 4,348 shares of the firm’s stock in a transaction dated Tuesday, June 7th. The stock was sold at an average price of $71.12, for a total transaction of $309,229.76. Following the completion of the transaction, the chief financial officer now owns 1,348 shares in the company, valued at $95,869.76. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Larry Newton Brownlee sold 2,913 shares of the firm’s stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $76.76, for a total value of $223,601.88. Following the transaction, the vice president now owns 442 shares of the company’s stock, valued at approximately $33,927.92. The disclosure for this sale can be found here.
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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