Brokerages Anticipate Neenah Paper, Inc. (NYSE:NP) to Post $1.05 Earnings Per Share
Shares of Neenah Paper, Inc. (NYSE:NP) have received a consensus broker rating score of 3.00 (Hold) from the two analysts that provide coverage for the stock, Zacks Investment Research reports. Two research analysts have rated the stock with a hold recommendation.
Brokerages have set a 12 month consensus price objective of $75.00 for the company and are forecasting that the company will post $1.05 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Neenah Paper an industry rank of 48 out of 265 based on the ratings given to related companies.
A number of research firms have commented on NP. Zacks Investment Research raised Neenah Paper from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 12th. BidaskClub downgraded Neenah Paper from a “sell” rating to a “strong sell” rating in a research report on Thursday, June 29th. Finally, ValuEngine downgraded Neenah Paper from a “buy” rating to a “hold” rating in a research report on Saturday, May 27th.
In other news, CFO Bonnie Cruickshank Lind sold 1,500 shares of the company’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $81.00, for a total transaction of $121,500.00. Following the completion of the transaction, the chief financial officer now directly owns 2,519 shares of the company’s stock, valued at $204,039. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Julie Schertell sold 1,219 shares of the company’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $80.65, for a total value of $98,312.35. Following the transaction, the senior vice president now directly owns 4,611 shares of the company’s stock, valued at $371,877.15. The disclosure for this sale can be found here. Insiders sold 6,579 shares of company stock valued at $527,565 over the last 90 days. Corporate insiders own 2.00% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of NP. BlackRock Inc. raised its stake in Neenah Paper by 128,954.2% in the first quarter. BlackRock Inc. now owns 2,011,955 shares of the basic materials company’s stock valued at $150,292,000 after buying an additional 2,010,396 shares in the last quarter. Vanguard Group Inc. raised its stake in Neenah Paper by 6.4% in the first quarter. Vanguard Group Inc. now owns 897,825 shares of the basic materials company’s stock valued at $67,067,000 after buying an additional 53,970 shares in the last quarter. Wells Fargo & Company MN raised its stake in Neenah Paper by 135.9% in the first quarter. Wells Fargo & Company MN now owns 794,458 shares of the basic materials company’s stock valued at $59,346,000 after buying an additional 457,658 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Neenah Paper by 1.6% in the first quarter. Dimensional Fund Advisors LP now owns 704,650 shares of the basic materials company’s stock valued at $52,637,000 after buying an additional 11,228 shares in the last quarter. Finally, Wellington Management Group LLP acquired a new stake in Neenah Paper during the first quarter valued at about $38,985,000. 90.83% of the stock is owned by hedge funds and other institutional investors.
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Shares of Neenah Paper (NP) traded down 0.80% during trading on Thursday, reaching $80.50. The company had a trading volume of 19,459 shares. The stock has a 50 day moving average price of $79.41 and a 200 day moving average price of $78.39. Neenah Paper has a 12 month low of $72.35 and a 12 month high of $90.22. The firm has a market capitalization of $1.35 billion, a PE ratio of 19.36 and a beta of 1.30.
Neenah Paper (NYSE:NP) last posted its quarterly earnings data on Wednesday, May 10th. The basic materials company reported $1.03 EPS for the quarter, missing analysts’ consensus estimates of $1.11 by $0.08. The business had revenue of $242.10 million during the quarter, compared to analyst estimates of $243.35 million. Neenah Paper had a return on equity of 21.77% and a net margin of 7.51%. Neenah Paper’s revenue for the quarter was up .0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.15 EPS. On average, equities research analysts forecast that Neenah Paper will post $4.04 EPS for the current year.
Neenah Paper announced that its Board of Directors has initiated a stock repurchase program on Thursday, May 25th that allows the company to repurchase $25.00 million in shares. This repurchase authorization allows the basic materials company to purchase up to 2% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.
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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