Neenah Paper, Inc. (NYSE:NP) 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 owns 2,801 shares of the company’s stock, valued at approximately $228,281.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of Neenah Paper, Inc. (NYSE:NP) traded down 0.77% during midday trading on Friday, reaching $77.00. The company’s stock had a trading volume of 58,150 shares. Neenah Paper, Inc. has a 52 week low of $72.35 and a 52 week high of $90.23. The stock has a market capitalization of $1.29 billion, a price-to-earnings ratio of 17.54 and a beta of 1.30. The company has a 50 day moving average of $78.93 and a 200-day moving average of $77.71.
Neenah Paper (NYSE:NP) last posted its quarterly earnings results on Wednesday, August 2nd. The basic materials company reported $1.22 EPS for the quarter, topping the consensus estimate of $1.08 by $0.14. The business had revenue of $248.70 million during the quarter, compared to analysts’ expectations of $250.88 million. Neenah Paper had a net margin of 7.99% and a return on equity of 21.03%. The firm’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same period last year, the company posted $1.26 earnings per share. Equities research analysts predict that Neenah Paper, Inc. will post $4.18 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 5th. Investors of record on Friday, August 18th will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 1.92%. The ex-dividend date is Wednesday, August 16th. Neenah Paper’s dividend payout ratio is currently 33.71%.
Neenah Paper announced that its board has initiated a share buyback plan 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 plans are usually a sign that the company’s leadership believes its shares are undervalued.
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A number of research firms have weighed in on NP. BidaskClub upgraded Neenah Paper from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. ValuEngine lowered Neenah Paper from a “buy” rating to a “hold” rating in a report on Saturday, May 27th. Finally, Zacks Investment Research downgraded Neenah Paper from a “hold” rating to a “sell” rating in a research report on Wednesday, August 9th.
Hedge funds have recently bought and sold shares of the stock. Ameritas Investment Partners Inc. acquired a new stake in Neenah Paper during the first quarter worth about $107,000. Riverhead Capital Management LLC boosted its stake in Neenah Paper by 83.1% in the second quarter. Riverhead Capital Management LLC now owns 1,465 shares of the basic materials company’s stock worth $117,000 after buying an additional 665 shares during the period. Elkfork Partners LLC boosted its stake in Neenah Paper by 17.5% in the first quarter. Elkfork Partners LLC now owns 1,598 shares of the basic materials company’s stock worth $119,000 after buying an additional 238 shares during the period. Bruderman Asset Management LLC acquired a new stake in Neenah Paper during the second quarter worth about $127,000. Finally, Bank of Montreal Can boosted its stake in 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 worth $135,000 after buying an additional 267 shares during the period. Hedge funds and other institutional investors own 90.97% 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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