Neenah Paper, Inc. (NYSE:NP) SVP James R. Piedmonte Sells 447 Shares
Neenah Paper, Inc. (NYSE:NP) SVP James R. Piedmonte sold 447 shares of the company’s stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $83.50, for a total transaction of $37,324.50. Following the completion of the transaction, the senior vice president now directly owns 2,883 shares in the company, valued at $240,730.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Neenah Paper, Inc. (NP) traded down 0.65% during trading on Monday, reaching $77.00. 30,300 shares of the company’s stock traded hands. The firm has a 50 day moving average price of $79.68 and a 200-day moving average price of $78.09. The firm has a market cap of $1.29 billion, a PE ratio of 17.54 and a beta of 1.30. Neenah Paper, Inc. has a 12 month low of $72.35 and a 12 month high of $90.22.
Neenah Paper (NYSE:NP) last issued its quarterly earnings results on Wednesday, August 2nd. The basic materials company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.14. Neenah Paper had a net margin of 7.99% and a return on equity of 21.03%. The firm had revenue of $248.70 million for the quarter, compared to analyst estimates of $250.88 million. During the same period in the previous year, the business earned $1.26 EPS. The company’s revenue was up 1.1% compared to the same quarter last year. On average, analysts forecast that Neenah Paper, Inc. will post $4.13 earnings per share for the current fiscal year.
Neenah Paper announced that its Board of Directors has initiated a stock repurchase plan on Thursday, May 25th that allows the company to repurchase $25.00 million in outstanding shares. This repurchase authorization allows the basic materials company to repurchase up to 2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 5th. Shareholders of record on Friday, August 18th will be paid a $0.37 dividend. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $1.48 annualized dividend and a yield of 1.91%. Neenah Paper’s payout ratio is currently 33.71%.
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Large investors have recently modified their holdings of the stock. Alps Advisors Inc. raised its stake in shares of Neenah Paper by 0.3% in the second quarter. Alps Advisors Inc. now owns 6,431 shares of the basic materials company’s stock valued at $516,000 after buying an additional 17 shares during 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 valued at $138,000 after buying an additional 30 shares during the last quarter. Capital One National Association raised its stake in shares of Neenah Paper by 1.0% in the first quarter. Capital One National Association now owns 6,731 shares of the basic materials company’s stock valued at $503,000 after buying an additional 66 shares during the last quarter. Texas Permanent School Fund raised its stake in shares of Neenah Paper by 0.7% in the second quarter. Texas Permanent School Fund now owns 12,257 shares of the basic materials company’s stock valued at $984,000 after buying an additional 90 shares during the last quarter. Finally, Dalton Greiner Hartman Maher & Co. raised its stake in shares of Neenah Paper by 0.4% in the first quarter. Dalton Greiner Hartman Maher & Co. now owns 26,323 shares of the basic materials company’s stock valued at $1,966,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 92.16% of the company’s stock.
Several equities analysts have commented on the stock. BidaskClub downgraded shares of Neenah Paper from a “sell” rating to a “strong sell” rating in a research report on Thursday, June 29th. Zacks Investment Research downgraded shares of Neenah Paper from a “hold” rating to a “sell” rating in a research report on Tuesday, May 16th. Finally, ValuEngine downgraded shares of Neenah Paper from a “buy” rating to a “hold” rating in a research report on Saturday, May 27th.
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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