Beck Mack & Oliver LLC bought a new stake in shares of Neenah Paper, Inc. (NYSE:NP) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 2,660 shares of the basic materials company’s stock, valued at approximately $213,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. BlackRock Inc. boosted its position in shares of Neenah Paper by 128,954.2% in the first quarter. BlackRock Inc. now owns 2,011,955 shares of the basic materials company’s stock valued at $150,292,000 after buying an additional 2,010,396 shares during the last quarter. Wellington Management Group LLP bought a new position in shares of Neenah Paper during the first quarter valued at about $38,985,000. Wells Fargo & Company MN boosted its position in shares of Neenah Paper by 135.9% in the first quarter. Wells Fargo & Company MN now owns 794,458 shares of the basic materials company’s stock valued at $59,346,000 after buying an additional 457,658 shares during the last quarter. Copper Rock Capital Partners LLC bought a new position in shares of Neenah Paper during the second quarter valued at about $33,097,000. Finally, Thrivent Financial For Lutherans boosted its position in shares of Neenah Paper by 796.2% in the first quarter. Thrivent Financial For Lutherans now owns 136,490 shares of the basic materials company’s stock valued at $10,196,000 after buying an additional 121,260 shares during the last quarter. 90.97% of the stock is currently owned by institutional investors.
Neenah Paper, Inc. (NP) opened at 77.00 on Friday. The stock has a market cap of $1.29 billion, a PE ratio of 17.54 and a beta of 1.30. The firm has a 50-day moving average price of $78.93 and a 200 day moving average price of $77.71. Neenah Paper, Inc. has a 52-week low of $72.35 and a 52-week high of $90.23.
Neenah Paper (NYSE:NP) last issued its earnings results on Wednesday, August 2nd. The basic materials company reported $1.22 EPS for the quarter, beating the consensus estimate of $1.08 by $0.14. Neenah Paper had a return on equity of 21.03% and a net margin of 7.99%. The business had revenue of $248.70 million for the quarter, compared to the consensus estimate of $250.88 million. During the same period last year, the business posted $1.26 EPS. The company’s revenue was up 1.1% compared to the same quarter last year. On average, analysts forecast that Neenah Paper, Inc. will post $4.18 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 5th. Shareholders of record on Friday, August 18th will be paid a dividend of $0.37 per share. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $1.48 annualized dividend and a yield of 1.92%. Neenah Paper’s dividend payout ratio is 33.71%.
Neenah Paper declared that its board has initiated a share buyback program on Thursday, May 25th that permits the company to repurchase $25.00 million in outstanding shares. This repurchase authorization permits 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 of directors believes its stock is undervalued.
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Several research analysts recently issued reports on NP shares. BidaskClub cut Neenah Paper from a “sell” rating to a “strong sell” rating in a research report on Thursday, June 29th. Zacks Investment Research cut Neenah Paper from a “hold” rating to a “sell” rating in a research report on Tuesday, May 16th. Finally, ValuEngine cut Neenah Paper from a “buy” rating to a “hold” rating in a research report on Saturday, May 27th.
In other Neenah Paper news, CFO Bonnie Cruickshank Lind sold 1,500 shares of the stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of $80.00, for a total transaction of $120,000.00. Following the sale, the chief financial officer now directly owns 28,574 shares in the company, valued at approximately $2,285,920. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Larry Newton Brownlee sold 1,450 shares of the firm’s stock in a transaction on Monday, June 5th. The stock was sold at an average price of $79.77, for a total value of $115,666.50. Following the completion of the transaction, the vice president now owns 2,912 shares in the company, valued at $232,290.24. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,809 shares of company stock worth $873,204. Company insiders own 2.00% of the company’s stock.
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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