TIAA CREF Investment Management LLC cut its position in shares of Neenah Paper, Inc. (NYSE:NP) by 25.4% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 60,686 shares of the basic materials company’s stock after selling 20,652 shares during the quarter. TIAA CREF Investment Management LLC owned about 0.36% of Neenah Paper worth $4,870,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Aberdeen Asset Management PLC UK purchased a new position in Neenah Paper during the second quarter valued at $36,785,000. HGK Asset Management Inc. purchased a new position in Neenah Paper during the second quarter valued at $585,000. Wells Fargo & Company MN raised its stake in Neenah Paper by 5.9% during the second quarter. Wells Fargo & Company MN now owns 841,177 shares of the basic materials company’s stock valued at $67,505,000 after buying an additional 46,719 shares during the last quarter. Prudential Financial Inc. raised its stake in Neenah Paper by 9.0% during the first quarter. Prudential Financial Inc. now owns 49,930 shares of the basic materials company’s stock valued at $3,730,000 after buying an additional 4,130 shares during the last quarter. Finally, Copper Rock Capital Partners LLC purchased a new position in Neenah Paper during the second quarter valued at $33,097,000. Institutional investors own 89.33% of the company’s stock.

In other news, SVP James R. Piedmonte sold 414 shares of the firm’s stock in a transaction on Friday, July 28th. The stock was sold at an average price of $81.50, for a total value of $33,741.00. Following the completion of the sale, the senior vice president now owns 2,850 shares of the company’s stock, valued at approximately $232,275. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP James R. Piedmonte sold 369 shares of the firm’s stock in a transaction on Friday, July 21st. The stock was 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 directly owns 2,801 shares of the company’s stock, valued at approximately $228,281.50. The disclosure for this sale can be found here. Insiders have sold a total of 8,892 shares of company stock worth $723,754 in the last ninety days. Insiders own 2.00% of the company’s stock.

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A number of brokerages have issued reports on NP. BidaskClub cut Neenah Paper from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 9th. Zacks Investment Research upgraded Neenah Paper from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 12th.

Neenah Paper, Inc. (NP) opened at 86.35 on Wednesday. Neenah Paper, Inc. has a 52 week low of $72.35 and a 52 week high of $90.23. The stock has a market cap of $1.45 billion, a PE ratio of 19.67 and a beta of 1.32. The firm’s 50-day moving average price is $82.09 and its 200-day moving average price is $78.96.

Neenah Paper (NYSE:NP) last announced its earnings results on Wednesday, August 2nd. The basic materials company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.14. The business 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 business’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.26 EPS. Equities analysts predict that Neenah Paper, Inc. will post $4.18 earnings per share for the current fiscal year.

Neenah Paper 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.

Institutional Ownership by Quarter for Neenah Paper (NYSE:NP)

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