Insider Buying: Michael C. Burandt Purchases 3,000 Shares of Wausau Paper Corp. Stock (WPP)
Wausau Paper Corp. (NYSE:WPP) CEO Michael C. Burandt acquired 3,000 shares of Wausau Paper Corp. stock on the open market in a transaction dated Monday, August 18th. The stock was purchased at an average cost of $8.66 per share, with a total value of $25,980.00. Following the completion of the purchase, the chief executive officer now directly owns 3,000 shares in the company, valued at approximately $25,980. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.
Shares of Wausau Paper Corp. (NYSE:WPP) opened at 8.91 on Thursday. Wausau Paper Corp. has a one year low of $8.47 and a one year high of $14.04. The stock’s 50-day moving average is $9.94 and its 200-day moving average is $11.39. The company’s market cap is $445.2 million.
Wausau Paper Corp. (NYSE:WPP) last announced its earnings results on Thursday, August 7th. The company reported ($0.04) EPS for the quarter, meeting the Thomson Reuters consensus estimate of ($0.04). The company had revenue of $89.21 million for the quarter, compared to the consensus estimate of $87.59 million. Analysts expect that Wausau Paper Corp. will post $-0.18 EPS for the current fiscal year.
Separately, analysts at Zacks downgraded shares of Wausau Paper Corp. from a “neutral” rating to an “underperform” rating in a research note on Monday. They now have a $8.30 price target on the stock.
Wausau Paper Corp. (NYSE:WPP) manufactures, converts, and sells paper and paper products.
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