Neenah Paper, Inc. (NYSE:NP) SVP Sells $30,073.50 in Stock
Neenah Paper, Inc. (NYSE:NP) SVP James R. Piedmonte sold 369 shares of Neenah Paper stock in a transaction that occurred on Friday, July 21st. The stock was sold at an average price of $81.50, for a total value of $30,073.50. Following the transaction, the senior vice president now owns 2,801 shares in the company, valued at approximately $228,281.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Neenah Paper, Inc. (NYSE:NP) traded down 0.63% during midday trading on Monday, reaching $79.35. The company’s stock had a trading volume of 24,380 shares. The company has a 50 day moving average price of $79.49 and a 200 day moving average price of $78.41. Neenah Paper, Inc. has a 1-year low of $72.35 and a 1-year high of $90.22. The firm has a market cap of $1.33 billion, a price-to-earnings ratio of 19.09 and a beta of 1.30.
Neenah Paper (NYSE:NP) last issued its quarterly earnings results on Wednesday, May 10th. The basic materials company reported $1.03 earnings per share for the quarter, missing analysts’ consensus estimates of $1.11 by $0.08. Neenah Paper had a return on equity of 21.77% and a net margin of 7.51%. The business had revenue of $242.10 million for the quarter, compared to analysts’ expectations of $243.35 million. During the same period in the prior year, the company earned $1.15 EPS. The company’s revenue for the quarter was up .0% compared to the same quarter last year. On average, equities research analysts expect that Neenah Paper, Inc. will post $4.04 EPS for the current year.
Neenah Paper declared that its Board of Directors has authorized a share repurchase program on Thursday, May 25th that allows the company to buyback $25.00 million in outstanding shares. This buyback authorization allows the basic materials company to buy up to 2% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.
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Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. raised its position in shares of 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 worth $150,292,000 after buying an additional 2,010,396 shares in the last quarter. Wellington Management Group LLP acquired a new position in shares of Neenah Paper during the first quarter worth $38,985,000. Wells Fargo & Company MN raised its position in shares of 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 worth $59,346,000 after buying an additional 457,658 shares in the last quarter. Copper Rock Capital Partners LLC acquired a new position in shares of Neenah Paper during the second quarter worth $33,097,000. Finally, Thrivent Financial For Lutherans raised its position in shares of Neenah Paper by 796.2% in the first quarter. Thrivent Financial For Lutherans now owns 136,490 shares of the basic materials company’s stock worth $10,196,000 after buying an additional 121,260 shares in the last quarter. 91.35% of the stock is currently owned by institutional investors.
A number of brokerages recently commented on NP. BidaskClub downgraded Neenah Paper from a “sell” rating to a “strong sell” rating in a research report on Thursday, June 29th. Zacks Investment Research upgraded Neenah Paper from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 12th. Finally, ValuEngine downgraded Neenah Paper from a “buy” rating to a “hold” rating in a research report on Saturday, May 27th.
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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