Zacks: Neenah Paper, Inc. (NP) Given Consensus Recommendation of “Hold” by Brokerages
Neenah Paper, Inc. (NYSE:NP) has been given an average broker rating score of 3.00 (Hold) from the two brokers that provide coverage for the stock, Zacks Investment Research reports. Two research analysts have rated the stock with a hold recommendation.
Brokers have set a 1 year consensus price target of $80.50 for the company and are predicting that the company will post $0.92 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Neenah Paper an industry rank of 186 out of 265 based on the ratings given to its competitors.
Separately, DA Davidson reiterated a “neutral” rating on shares of Neenah Paper in a research note on Thursday, November 9th.
Neenah Paper (NYSE:NP) last announced its quarterly earnings results on Tuesday, November 7th. The basic materials company reported $1.02 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.01. The firm had revenue of $245.10 million during the quarter, compared to analysts’ expectations of $240.60 million. Neenah Paper had a net margin of 8.13% and a return on equity of 20.48%. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.99 earnings per share. equities research analysts expect that Neenah Paper will post 4.19 EPS for the current year.
Neenah Paper announced that its Board of Directors has authorized a stock repurchase program on Wednesday, November 29th that allows the company to repurchase $25.00 million in shares. This repurchase authorization allows the basic materials company to buy shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 4th. Shareholders of record on Friday, November 17th were paid a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.60%. The ex-dividend date of this dividend was Thursday, November 16th. Neenah Paper’s dividend payout ratio (DPR) is 32.60%.
In other Neenah Paper news, Director Timothy S. Lucas sold 2,000 shares of the firm’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $87.90, for a total value of $175,800.00. Following the transaction, the director now directly owns 15,693 shares of the company’s stock, valued at approximately $1,379,414.70. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Larry Newton Brownlee sold 458 shares of the firm’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $87.62, for a total transaction of $40,129.96. Following the completion of the transaction, the vice president now directly owns 2,370 shares in the company, valued at $207,659.40. The disclosure for this sale can be found here. Insiders sold a total of 12,030 shares of company stock valued at $1,059,458 in the last quarter. Corporate insiders own 2.00% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the business. Riverhead Capital Management LLC grew its holdings in shares of Neenah Paper by 83.1% during the 2nd quarter. Riverhead Capital Management LLC now owns 1,465 shares of the basic materials company’s stock valued at $117,000 after purchasing an additional 665 shares during the last quarter. Bruderman Asset Management LLC acquired a new stake in Neenah Paper during the 2nd quarter worth approximately $127,000. Pinebridge Investments L.P. boosted its position in Neenah Paper by 0.8% during the 2nd quarter. Pinebridge Investments L.P. now owns 2,211 shares of the basic materials company’s stock worth $178,000 after buying an additional 18 shares during the period. Magnetar Financial LLC acquired a new stake in Neenah Paper during the 3rd quarter worth approximately $205,000. Finally, Cambridge Investment Research Advisors Inc. acquired a new stake in Neenah Paper during the 3rd quarter worth approximately $221,000. 89.82% of the stock is currently owned by hedge funds and other institutional investors.
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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