Fruth Investment Management lowered its stake in Neenah Paper, Inc. (NYSE:NP) by 0.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,726 shares of the basic materials company’s stock after selling 200 shares during the period. Fruth Investment Management owned about 0.13% of Neenah Paper worth $1,743,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. 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 worth $138,000 after buying an additional 30 shares in the last quarter. Capital One National Association increased its position in shares of Neenah Paper by 1.0% in the first quarter. Capital One National Association now owns 6,731 shares of the basic materials company’s stock worth $503,000 after buying an additional 66 shares in the last quarter. Dalton Greiner Hartman Maher & Co. increased its position in shares of Neenah Paper by 0.4% in the first quarter. Dalton Greiner Hartman Maher & Co. now owns 26,323 shares of the basic materials company’s stock worth $1,966,000 after buying an additional 100 shares in the last quarter. Louisiana State Employees Retirement System increased its position in shares of Neenah Paper by 1.5% in the first quarter. Louisiana State Employees Retirement System now owns 6,800 shares of the basic materials company’s stock worth $508,000 after buying an additional 100 shares in the last quarter. Finally, Arizona State Retirement System increased its position in shares of Neenah Paper by 1.2% in the first quarter. Arizona State Retirement System now owns 8,748 shares of the basic materials company’s stock worth $653,000 after buying an additional 100 shares in the last quarter. 92.16% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Neenah Paper, Inc. (NYSE NP) traded up 0.98% on Friday, hitting $77.05. The stock had a trading volume of 68,327 shares. Neenah Paper, Inc. has a 1-year low of $72.35 and a 1-year high of $90.22. The firm has a market capitalization of $1.29 billion, a price-to-earnings ratio of 17.55 and a beta of 1.30. The firm has a 50 day moving average of $79.13 and a 200-day moving average of $77.92.
Neenah Paper (NYSE:NP) last posted its earnings results on Wednesday, August 2nd. The basic materials company reported $1.22 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $0.14. The company had revenue of $248.70 million for the quarter, compared to analysts’ expectations of $250.88 million. Neenah Paper had a return on equity of 21.03% and a net margin of 7.99%. Neenah Paper’s quarterly revenue was up 1.1% on a year-over-year basis. During the same period last year, the firm earned $1.26 earnings per share. Equities analysts predict that Neenah Paper, Inc. will post $4.18 earnings per share for the current year.
Neenah Paper announced that its Board of Directors has approved a stock buyback program on Thursday, May 25th that authorizes the company to repurchase $25.00 million in shares. This repurchase authorization authorizes the basic materials company to repurchase up to 2% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 5th. Investors of record on Friday, August 18th will be paid a $0.37 dividend. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $1.48 annualized dividend and a dividend yield of 1.92%. Neenah Paper’s payout ratio is presently 33.71%.
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A number of research analysts have recently issued reports on the company. BidaskClub downgraded Neenah Paper from a “sell” rating to a “strong sell” rating in a research note on Wednesday. Zacks Investment Research downgraded Neenah Paper from a “hold” rating to a “sell” rating in a research note on Tuesday, May 16th. Finally, ValuEngine downgraded Neenah Paper from a “buy” rating to a “hold” rating in a research note on Saturday, May 27th.
In other Neenah Paper news, CFO Bonnie Cruickshank Lind sold 1,500 shares of the firm’s stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $81.00, for a total value of $121,500.00. Following the completion of the sale, the chief financial officer now directly owns 2,519 shares in the company, valued at $204,039. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP James R. Piedmonte sold 447 shares of the firm’s stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $83.50, for a total transaction of $37,324.50. Following the completion of the sale, the senior vice president now owns 2,883 shares of the company’s stock, valued at $240,730.50. The disclosure for this sale can be found here. Insiders sold 10,809 shares of company stock worth $873,204 over the last three months. 2.00% of the stock is owned by insiders.
Neenah Paper Company Profile
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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