Louisiana State Employees Retirement System Maintains Stake in Neenah Paper, Inc. (NYSE:NP)
Louisiana State Employees Retirement System maintained its position in shares of Neenah Paper, Inc. (NYSE:NP) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,800 shares of the basic materials company’s stock at the end of the second quarter. Louisiana State Employees Retirement System’s holdings in Neenah Paper were worth $546,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Ameritas Investment Partners Inc. bought a new position in shares of Neenah Paper during the first quarter valued at approximately $107,000. Elkfork Partners LLC increased its position in shares of Neenah Paper by 17.5% in the first quarter. Elkfork Partners LLC now owns 1,598 shares of the basic materials company’s stock valued at $119,000 after buying an additional 238 shares during the last quarter. Bank of Montreal Can increased its position in shares of Neenah Paper by 17.3% in the first quarter. Bank of Montreal Can now owns 1,808 shares of the basic materials company’s stock valued at $135,000 after buying an additional 267 shares during the last quarter. State of Alaska Department of Revenue increased its position in shares of Neenah Paper by 1.6% in the first quarter. State of Alaska Department of Revenue now owns 1,850 shares of the basic materials company’s stock valued at $138,000 after buying an additional 30 shares during the last quarter. Finally, Paloma Partners Management Co bought a new position in shares of Neenah Paper during the first quarter valued at approximately $236,000. 92.16% of the stock is owned by institutional investors and hedge funds.
Shares of Neenah Paper, Inc. (NYSE NP) traded down 0.32% during trading on Thursday, reaching $77.00. 31,889 shares of the company’s stock traded hands. The company has a market cap of $1.29 billion, a price-to-earnings ratio of 17.54 and a beta of 1.30. Neenah Paper, Inc. has a 52-week low of $72.35 and a 52-week high of $90.23. The company’s 50-day moving average is $79.31 and its 200 day moving average is $77.97.
Neenah Paper (NYSE:NP) last announced its quarterly earnings data on Wednesday, August 2nd. The basic materials company reported $1.22 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.08 by $0.14. The firm had revenue of $248.70 million during the quarter, compared to analyst estimates of $250.88 million. Neenah Paper had a net margin of 7.99% and a return on equity of 21.03%. The business’s quarterly revenue was up 1.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.26 EPS. Equities analysts forecast that Neenah Paper, Inc. will post $4.18 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 5th. Stockholders of record on Friday, August 18th will be issued a $0.37 dividend. The ex-dividend date is Wednesday, August 16th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.92%. Neenah Paper’s payout ratio is 33.71%.
Neenah Paper announced that its Board of Directors has authorized a share buyback program on Thursday, May 25th that allows the company to repurchase $25.00 million in shares. This repurchase authorization allows the basic materials company to purchase up to 2% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.
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Several equities analysts have issued reports on NP shares. BidaskClub cut shares of Neenah Paper from a “sell” rating to a “strong sell” rating in a research report on Wednesday. Zacks Investment Research cut shares of Neenah Paper from a “hold” rating to a “sell” rating in a research report on Wednesday. Finally, ValuEngine cut shares of Neenah Paper from a “buy” rating to a “hold” rating in a research report on Saturday, May 27th.
In other news, SVP James R. Piedmonte sold 369 shares of the business’s stock in a transaction that occurred on Friday, July 21st. The shares were sold at an average price of $81.50, for a total value of $30,073.50. Following the completion of the sale, the senior vice president now directly owns 2,801 shares in the company, valued at approximately $228,281.50. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Bonnie Cruickshank Lind sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $81.00, for a total transaction of $121,500.00. Following the completion of the sale, the chief financial officer now owns 2,519 shares of the company’s stock, valued at $204,039. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,809 shares of company stock valued at $873,204. Company insiders own 2.00% of the company’s stock.
About Neenah Paper
Neenah Paper, Inc is a producer of technical products and premium fine papers and packaging. The Company has two primary businesses: technical products business, and fine paper and packaging business. Its segments consist of Technical Products, Fine Paper and Packaging, and Other. The technical products business is an international producer of transportation, water and other filter media and durable, saturated and coated substrates.
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