State of Tennessee Treasury Department Sells 932 Shares of Neenah Paper, Inc. (NP)
State of Tennessee Treasury Department trimmed its holdings in shares of Neenah Paper, Inc. (NYSE:NP) by 5.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,748 shares of the basic materials company’s stock after selling 932 shares during the period. State of Tennessee Treasury Department owned 0.09% of Neenah Paper worth $1,262,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of NP. Aberdeen Asset Management PLC UK bought a new stake in shares of Neenah Paper during the second quarter worth approximately $36,785,000. Granite Investment Partners LLC bought a new stake in shares of Neenah Paper during the second quarter worth approximately $12,200,000. Macquarie Group Ltd. raised its stake in shares of Neenah Paper by 33.8% during 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 during the last quarter. Shell Asset Management Co. bought a new stake in shares of Neenah Paper during the third quarter worth approximately $3,020,000. Finally, Vanguard Group Inc. raised its stake in shares of Neenah Paper by 6.4% during the first quarter. Vanguard Group Inc. now owns 897,825 shares of the basic materials company’s stock worth $67,067,000 after buying an additional 53,970 shares during the last quarter. 88.59% of the stock is owned by institutional investors and hedge funds.
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A number of equities research analysts recently weighed in on the stock. BidaskClub raised shares of Neenah Paper from a “strong sell” rating to a “sell” rating in a research note on Tuesday, August 15th. Zacks Investment Research downgraded shares of Neenah Paper from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. Finally, DA Davidson reaffirmed a “neutral” rating on shares of Neenah Paper in a research note on Thursday, November 9th.
In other Neenah Paper news, SVP Julie Schertell sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $76.71, for a total value of $153,420.00. Following the completion of the sale, the senior vice president now owns 3,789 shares of the company’s stock, valued at $290,654.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Matthew L. Duncan sold 1,107 shares of the company’s stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $79.00, for a total transaction of $87,453.00. The disclosure for this sale can be found here. Insiders sold 6,620 shares of company stock valued at $539,745 in the last ninety days. Insiders own 2.00% of the company’s stock.
Shares of Neenah Paper, Inc. (NP) traded down $0.45 during trading hours on Friday, reaching $88.10. 31,200 shares of the company’s stock traded hands, compared to its average volume of 79,379. Neenah Paper, Inc. has a 1 year low of $72.35 and a 1 year high of $90.23. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.52 and a quick ratio of 1.44. The company has a market capitalization of $1,481.70, a P/E ratio of 20.16, a PEG ratio of 4.21 and a beta of 1.26.
Neenah Paper (NYSE:NP) last issued its earnings results on Tuesday, November 7th. The basic materials company reported $1.02 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.01 by $0.01. Neenah Paper had a net margin of 8.13% and a return on equity of 20.48%. The firm had revenue of $245.10 million during the quarter, compared to the consensus estimate of $240.60 million. During the same quarter in the prior year, the firm earned $0.99 earnings per share. The business’s quarterly revenue was up 5.2% on a year-over-year basis. equities analysts forecast that Neenah Paper, Inc. will post 4.19 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 4th. Shareholders of record on Friday, November 17th will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.68%. The ex-dividend date is Thursday, November 16th. Neenah Paper’s payout ratio is presently 32.60%.
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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