Insider Selling: Neenah Paper, Inc. (NP) SVP Sells 2,000 Shares of Stock
Neenah Paper, Inc. (NYSE:NP) SVP Julie Schertell sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $76.71, for a total value of $153,420.00. Following the completion of the transaction, the senior vice president now owns 3,789 shares of the company’s stock, valued at $290,654.19. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Julie Schertell also recently made the following trade(s):
- On Monday, June 12th, Julie Schertell sold 1,219 shares of Neenah Paper stock. The shares were sold at an average price of $80.65, for a total value of $98,312.35.
Neenah Paper, Inc. (NYSE NP) traded down 0.07% during midday trading on Tuesday, reaching $76.65. The company’s stock had a trading volume of 15,539 shares. Neenah Paper, Inc. has a 52-week low of $72.35 and a 52-week high of $90.22. The firm has a market cap of $1.29 billion, a P/E ratio of 17.46 and a beta of 1.30. The firm has a 50 day moving average of $78.57 and a 200 day moving average of $77.52.
Neenah Paper (NYSE:NP) last announced its earnings results on Wednesday, August 2nd. The basic materials company reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.14. Neenah Paper had a return on equity of 21.03% and a net margin of 7.99%. The firm had revenue of $248.70 million during the quarter, compared to analyst estimates of $250.88 million. During the same quarter in the prior year, the company earned $1.26 EPS. The business’s revenue was up 1.1% compared to the same quarter last year. Analysts anticipate that Neenah Paper, Inc. will post $4.18 earnings per share for the current fiscal year.
Neenah Paper declared that its Board of Directors has initiated a stock repurchase program on Thursday, May 25th that permits the company to repurchase $25.00 million in shares. This repurchase authorization permits the basic materials company to buy up to 2% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 5th. Stockholders of record on Friday, August 18th will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 1.93%. The ex-dividend date of this dividend is Wednesday, August 16th. Neenah Paper’s dividend payout ratio is currently 33.71%.
Several hedge funds and other institutional investors have recently made changes to their positions in NP. Copeland Capital Management LLC raised its position in shares of Neenah Paper by 9.4% in the first quarter. Copeland Capital Management LLC now owns 173,732 shares of the basic materials company’s stock valued at $12,891,000 after buying an additional 14,993 shares in the last quarter. Capital One National Association raised its position 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 in the last quarter. Great West Life Assurance Co. Can raised its position in shares of Neenah Paper by 8.0% in the first quarter. Great West Life Assurance Co. Can now owns 23,832 shares of the basic materials company’s stock valued at $1,777,000 after buying an additional 1,762 shares in the last quarter. 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 valued at $59,346,000 after buying an additional 457,658 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its position in shares of Neenah Paper by 15.7% in the first quarter. Russell Investments Group Ltd. now owns 47,224 shares of the basic materials company’s stock valued at $3,528,000 after buying an additional 6,406 shares in the last quarter. 93.04% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have commented on the company. Zacks Investment Research cut Neenah Paper from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. BidaskClub upgraded Neenah Paper from a “strong sell” rating to a “sell” rating in a research note on Monday, July 31st. Finally, ValuEngine cut Neenah Paper from a “buy” rating to a “hold” rating in a research note 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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