ValuEngine Lowers Neenah Paper, Inc. (NP) to Hold
Neenah Paper, Inc. (NYSE:NP) was downgraded by investment analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.
Separately, Zacks Investment Research lowered Neenah Paper from a “hold” rating to a “sell” rating in a report on Tuesday, February 28th.
Neenah Paper (NYSE:NP) traded up 2.88% on Friday, reaching $78.50. The company’s stock had a trading volume of 218,817 shares. The company has a market capitalization of $1.32 billion, a price-to-earnings ratio of 18.88 and a beta of 1.48. The firm has a 50-day moving average of $76.68 and a 200 day moving average of $79.97. Neenah Paper has a 12-month low of $68.18 and a 12-month high of $90.23.
Neenah Paper (NYSE:NP) last announced its quarterly earnings results on Wednesday, May 10th. The basic materials company reported $1.03 earnings per share for the quarter, missing the consensus estimate of $1.11 by $0.08. The company had revenue of $242.10 million for the quarter, compared to analysts’ expectations of $243.35 million. Neenah Paper had a net margin of 7.12% and a return on equity of 22.20%. The firm’s revenue was up .0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.15 earnings per share. On average, equities research analysts anticipate that Neenah Paper will post $4.04 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 issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.89%. The ex-dividend date is Wednesday, May 10th. Neenah Paper’s payout ratio is currently 33.42%.
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In other Neenah Paper news, SVP Steven S. Heinrichs sold 6,010 shares of the firm’s stock in a transaction that occurred 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 sale, the senior vice president now directly owns 16,293 shares of the company’s stock, valued at $1,232,076.66. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.00% of the stock is currently owned by company insiders.
Hedge funds have recently modified their holdings of the company. Bank of Montreal Can raised its stake in shares of Neenah Paper by 0.4% in the third quarter. Bank of Montreal Can now owns 1,558 shares of the basic materials company’s stock worth $124,000 after buying an additional 6 shares in the last quarter. Bruderman Asset Management LLC raised its stake in shares of Neenah Paper by 0.4% in the third quarter. Bruderman Asset Management LLC now owns 2,217 shares of the basic materials company’s stock worth $175,000 after buying an additional 8 shares in the last quarter. Creative Planning raised its stake in shares of Neenah Paper by 1.7% in the second quarter. Creative Planning now owns 1,689 shares of the basic materials company’s stock worth $122,000 after buying an additional 29 shares in the last quarter. State of Alaska Department of Revenue raised its stake in shares of Neenah Paper by 1.6% in the first quarter. State of Alaska Department of Revenue now owns 1,850 shares of the basic materials company’s stock worth $138,000 after buying an additional 30 shares in the last quarter. Finally, Opus Capital Group LLC raised its stake in shares of Neenah Paper by 1.2% in the second quarter. Opus Capital Group LLC now owns 3,215 shares of the basic materials company’s stock worth $233,000 after buying an additional 38 shares in the last quarter. 90.67% of the stock is currently owned by hedge funds and other 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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