Neenah Paper, Inc. (NYSE:NP) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Tuesday.

According to Zacks, “Neenah is a leading global specialty materials company, focused on premium niche markets that include advanced filtration media, specialized substrates used for tapes, labels and other products, and premium printing and packaging papers. The company is headquartered in Alpharetta, Georgia and its products are sold in over 70 countries worldwide from manufacturing operations in the United States and Germany. “

Shares of Neenah Paper (NYSE:NP) opened at 77.30 on Tuesday. Neenah Paper has a 12 month low of $64.34 and a 12 month high of $90.22. The firm has a 50-day moving average price of $76.20 and a 200 day moving average price of $80.16. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of 18.60 and a beta of 1.48.

Neenah Paper (NYSE:NP) last issued its quarterly earnings data on Wednesday, May 10th. The basic materials company reported $1.03 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.11 by $0.08. Neenah Paper had a net margin of 7.12% and a return on equity of 22.20%. The business had revenue of $242.10 million during the quarter, compared to the consensus estimate of $243.35 million. During the same quarter in the previous year, the firm posted $1.15 EPS. The company’s revenue for the quarter was up .0% compared to the same quarter last year. On average, analysts anticipate that Neenah Paper will post $4.30 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 2nd. Shareholders of record on Friday, May 12th will be given a $0.37 dividend. The ex-dividend date is Wednesday, May 10th. This represents a $1.48 annualized dividend and a yield of 1.91%. Neenah Paper’s payout ratio is 33.42%.

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In other news, SVP Steven S. Heinrichs sold 6,010 shares of Neenah Paper stock in a transaction on Monday, February 27th. The stock was sold at an average price of $75.62, for a total value of $454,476.20. Following the completion of the sale, the senior vice president now directly owns 16,293 shares of the company’s stock, valued at approximately $1,232,076.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Sean T. Erwin sold 3,000 shares of Neenah Paper stock in a transaction on Tuesday, February 21st. The shares were sold at an average price of $76.28, for a total value of $228,840.00. Following the completion of the sale, the director now directly owns 19,817 shares of the company’s stock, valued at $1,511,640.76. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the stock. Exchange Capital Management Inc. purchased a new stake in Neenah Paper during the second quarter valued at approximately $101,000. Ameritas Investment Partners Inc. purchased a new stake in Neenah Paper during the first quarter valued at approximately $107,000. Bank of Montreal Can purchased a new stake in Neenah Paper during the second quarter valued at approximately $112,000. Elkfork Partners LLC purchased a new stake in Neenah Paper during the fourth quarter valued at approximately $116,000. Finally, Creative Planning boosted its stake in Neenah Paper by 1.7% in the second quarter. Creative Planning now owns 1,689 shares of the basic materials company’s stock valued at $122,000 after buying an additional 29 shares during the period. 90.67% of the stock is owned by institutional investors.

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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