Neenah Paper, Inc. (NP) SVP Sells $37,324.50 in Stock
Neenah Paper, Inc. (NYSE:NP) SVP James R. Piedmonte sold 447 shares of Neenah Paper stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $83.50, for a total transaction of $37,324.50. Following the completion of the transaction, the senior vice president now directly owns 2,883 shares in the company, valued at approximately $240,730.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Shares of Neenah Paper, Inc. (NYSE:NP) traded down 0.77% on Friday, reaching $77.00. 58,150 shares of the company’s stock were exchanged. The company’s 50 day moving average price is $78.93 and its 200-day moving average price is $77.71. The stock has a market cap of $1.29 billion, a P/E ratio of 17.54 and a beta of 1.30. Neenah Paper, Inc. has a 52-week low of $72.35 and a 52-week high of $90.23.
Neenah Paper (NYSE:NP) last posted its quarterly earnings results on Wednesday, August 2nd. The basic materials company reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.14. The firm had revenue of $248.70 million for the quarter, compared to analysts’ expectations of $250.88 million. Neenah Paper had a return on equity of 21.03% and a net margin of 7.99%. The company’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.26 EPS. Equities analysts forecast that Neenah Paper, Inc. will post $4.18 EPS for the current fiscal year.
Neenah Paper declared that its Board of Directors has initiated a share repurchase 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 generally an indication that the company’s leadership believes its shares are undervalued.
The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date of this dividend is Wednesday, August 16th. Neenah Paper’s payout ratio is 33.71%.
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Institutional investors have recently modified their holdings of the company. Public Employees Retirement System of Ohio boosted its position in shares of Neenah Paper by 2,688.7% in the second quarter. Public Employees Retirement System of Ohio now owns 24,234 shares of the basic materials company’s stock worth $1,945,000 after buying an additional 23,365 shares in the last quarter. Piedmont Investment Advisors LLC purchased a new position in shares of Neenah Paper during the second quarter worth about $291,000. The Manufacturers Life Insurance Company boosted its position in shares of Neenah Paper by 1.1% in the second quarter. The Manufacturers Life Insurance Company now owns 13,092 shares of the basic materials company’s stock worth $1,051,000 after buying an additional 148 shares in the last quarter. State Street Corp boosted its position in shares of Neenah Paper by 4.8% in the second quarter. State Street Corp now owns 430,870 shares of the basic materials company’s stock worth $34,575,000 after buying an additional 19,548 shares in the last quarter. Finally, Macquarie Group Ltd. boosted its position in shares of Neenah Paper by 33.8% in the second quarter. Macquarie Group Ltd. now owns 585,928 shares of the basic materials company’s stock worth $47,021,000 after buying an additional 147,915 shares in the last quarter. Institutional investors own 90.97% of the company’s stock.
A number of brokerages have weighed in on NP. BidaskClub lowered shares of Neenah Paper from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 9th. Zacks Investment Research lowered shares of Neenah Paper from a “hold” rating to a “sell” rating in a research note on Tuesday, May 16th. Finally, ValuEngine lowered shares of Neenah Paper from a “buy” rating to a “hold” rating in a research note on Saturday, May 27th.
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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