Neenah Paper Inc. (NP) Reaches New 12-Month High After Insider Buying Activity
Neenah Paper Inc. (NYSE:NP)’s share price reached a new 52-week high during trading on Wednesday following insider buying activity. The company traded as high as $83.35 and last traded at $83.20, with a volume of 36,130 shares changing hands. The stock had previously closed at $82.75.
Specifically, Director William M. Cook acquired 500 shares of the firm’s stock in a transaction that occurred on Monday, November 14th. The stock was purchased at an average price of $81.68 per share, with a total value of $40,840.00. Following the purchase, the director now owns 1,563 shares of the company’s stock, valued at approximately $127,665.84. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Larry Newton Brownlee sold 2,913 shares of the firm’s stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $76.76, for a total transaction of $223,601.88. Following the completion of the transaction, the vice president now directly owns 442 shares of the company’s stock, valued at approximately $33,927.92. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.
NP has been the subject of a number of recent analyst reports. Zacks Investment Research raised shares of Neenah Paper from a “hold” rating to a “buy” rating and set a $85.00 price objective for the company in a research note on Tuesday, August 9th. DA Davidson lowered shares of Neenah Paper from a “buy” rating to a “neutral” rating and set a $78.00 target price for the company. in a research note on Friday, August 5th. They noted that the move was a valuation call.
The company has a market capitalization of $1.41 billion, a P/E ratio of 21.18 and a beta of 1.45. The stock’s 50 day moving average price is $79.78 and its 200 day moving average price is $75.09.
Neenah Paper (NYSE:NP) last announced its earnings results on Tuesday, November 8th. The company reported $0.99 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.99. Neenah Paper had a net margin of 7.12% and a return on equity of 22.20%. The company had revenue of $232.90 million for the quarter, compared to analyst estimates of $243.15 million. During the same period in the prior year, the business earned $0.89 earnings per share. Neenah Paper’s quarterly revenue was up .6% on a year-over-year basis. On average, equities research analysts expect that Neenah Paper Inc. will post $4.31 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 2nd. Investors of record on Friday, November 11th will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date of this dividend is Tuesday, November 8th. Neenah Paper’s dividend payout ratio (DPR) is 33.42%.
Large investors have recently bought and sold shares of the company. Exchange Capital Management Inc. acquired a new stake in Neenah Paper during the second quarter worth $101,000. Bank of Montreal Can acquired a new stake in Neenah Paper during the second quarter worth $112,000. Creative Planning increased its stake in Neenah Paper by 1.7% in the second quarter. Creative Planning now owns 1,689 shares of the company’s stock worth $122,000 after buying an additional 29 shares during the period. BlackRock Inc. increased its stake in Neenah Paper by 76.6% in the second quarter. BlackRock Inc. now owns 1,907 shares of the company’s stock worth $137,000 after buying an additional 827 shares during the period. Finally, PineBridge Investments L.P. increased its stake in Neenah Paper by 3.7% in the second quarter. PineBridge Investments L.P. now owns 2,122 shares of the company’s stock worth $153,000 after buying an additional 75 shares during the period. 89.30% of the stock is owned by institutional investors and hedge funds.
Neenah Paper Company Profile
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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