Neenah Paper Inc. (NP) Upgraded to Hold at Zacks Investment Research
Neenah Paper Inc. (NYSE:NP) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued on Tuesday.
According to Zacks, “Neenah is a leading global specialty materials company, focused on premium niche markets that include advanced filtration media, specialized substrates used for tapes, labels and other products, and premium printing and packaging papers. The company is headquartered in Alpharetta, Georgia and its products are sold in over 70 countries worldwide from manufacturing operations in the United States and Germany. “
Separately, DA Davidson reiterated a “hold” rating and set a $78.00 price target on shares of Neenah Paper in a research report on Thursday, November 10th.
Neenah Paper (NYSE:NP) opened at 85.25 on Tuesday. The company has a 50-day moving average of $80.12 and a 200-day moving average of $75.49. The company has a market cap of $1.43 billion, a price-to-earnings ratio of 21.40 and a beta of 1.45. Neenah Paper has a one year low of $52.70 and a one year high of $85.50.
Neenah Paper (NYSE:NP) last announced its quarterly earnings results on Tuesday, November 8th. The company reported $0.99 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.99. Neenah Paper had a return on equity of 22.20% and a net margin of 7.12%. The firm had revenue of $232.90 million for the quarter, compared to analysts’ expectations of $243.15 million. During the same period in the prior year, the business posted $0.89 earnings per share. The company’s revenue was up .6% on a year-over-year basis. Equities research analysts expect that Neenah Paper will post $4.31 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 2nd. Stockholders of record on Friday, November 11th will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.55%. The ex-dividend date is Tuesday, November 8th. Neenah Paper’s payout ratio is 33.42%.
In other Neenah Paper news, Director William M. Cook acquired 500 shares of the business’s stock in a transaction dated Monday, November 14th. The stock was bought at an average price of $81.68 per share, with a total value of $40,840.00. Following the completion of the acquisition, the director now owns 1,563 shares of the company’s stock, valued at $127,665.84. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Larry Newton Brownlee sold 368 shares of the business’s stock in a transaction dated Wednesday, August 31st. The stock was sold at an average price of $80.56, for a total value of $29,646.08. Following the transaction, the vice president now directly owns 368 shares of the company’s stock, valued at approximately $29,646.08. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Fund Advisors raised its position in shares of Neenah Paper by 8.7% in the third quarter. BlackRock Fund Advisors now owns 1,158,338 shares of the company’s stock valued at $91,520,000 after buying an additional 92,893 shares during the last quarter. FMR LLC raised its position in shares of Neenah Paper by 7.9% in the second quarter. FMR LLC now owns 919,455 shares of the company’s stock valued at $66,541,000 after buying an additional 67,500 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Neenah Paper by 2.5% in the second quarter. Vanguard Group Inc. now owns 868,530 shares of the company’s stock valued at $62,855,000 after buying an additional 21,443 shares during the last quarter. Brown Advisory Inc. raised its stake in shares of Neenah Paper by 0.6% in the second quarter. Brown Advisory Inc. now owns 699,325 shares of the company’s stock valued at $50,610,000 after buying an additional 4,339 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Neenah Paper by 0.5% in the second quarter. Dimensional Fund Advisors LP now owns 672,022 shares of the company’s stock valued at $48,633,000 after buying an additional 3,508 shares in the last quarter. 89.95% of the stock is owned by institutional investors.
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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