Brokerages Anticipate Neenah Paper, Inc. (NYSE:NP) to Post $0.95 Earnings Per Share
Neenah Paper, Inc. (NYSE:NP) has been assigned a consensus broker rating score of 3.00 (Hold) from the two analysts that provide coverage for the company, Zacks Investment Research reports. Two analysts have rated the stock with a hold rating.
Brokerages have set a one year consensus price objective of $75.00 for the company and are forecasting that the company will post $0.95 EPS for the current quarter, according to Zacks. Zacks has also given Neenah Paper an industry rank of 171 out of 265 based on the ratings given to its competitors.
A number of research analysts have recently commented on the stock. BidaskClub cut shares of Neenah Paper from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 9th. Zacks Investment Research cut shares of Neenah Paper from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. Finally, ValuEngine cut shares of Neenah Paper from a “buy” rating to a “hold” rating in a report on Saturday, May 27th.
In other Neenah Paper news, VP Larry Newton Brownlee sold 1,450 shares of the stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $79.77, for a total transaction of $115,666.50. Following the transaction, the vice president now directly owns 2,912 shares in the company, valued at approximately $232,290.24. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Julie Schertell sold 1,219 shares of the stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $80.65, for a total transaction of $98,312.35. Following the transaction, the senior vice president now owns 4,611 shares in the company, valued at $371,877.15. 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. 2.00% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of NP. 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 acquired a new position in shares of Neenah Paper during the first quarter valued at about $38,985,000. Aberdeen Asset Management PLC UK acquired a new position in shares of Neenah Paper during the second quarter valued at about $36,785,000. 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. Finally, Copper Rock Capital Partners LLC acquired a new position in shares of Neenah Paper during the second quarter valued at about $33,097,000. Institutional investors own 90.97% of the company’s stock.
Neenah Paper (NYSE:NP) traded up 1.49% during midday trading on Friday, hitting $78.20. 58,122 shares of the stock traded hands. The firm’s 50-day moving average is $79.13 and its 200-day moving average is $77.92. The company has a market cap of $1.31 billion, a price-to-earnings ratio of 17.81 and a beta of 1.30. Neenah Paper has a 52-week low of $72.35 and a 52-week high of $90.22.
Neenah Paper (NYSE:NP) last posted its quarterly earnings data on Wednesday, August 2nd. The basic materials company reported $1.22 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.14. Neenah Paper had a net margin of 7.99% and a return on equity of 21.03%. The business had revenue of $248.70 million for the quarter, compared to analysts’ expectations of $250.88 million. During the same quarter in the previous year, the business posted $1.26 earnings per share. The business’s revenue was up 1.1% compared to the same quarter last year. Analysts predict that Neenah Paper will post $4.18 EPS for the current year.
Neenah Paper declared that its Board of Directors has initiated a stock buyback program on Thursday, May 25th that allows the company to buyback $25.00 million in outstanding shares. This buyback authorization allows the basic materials company to repurchase up to 2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
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 issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.92%. The ex-dividend date is Wednesday, August 16th. Neenah Paper’s payout ratio is 33.71%.
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About Neenah Paper
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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