Matthew L. Duncan Sells 1,107 Shares of Neenah Paper, Inc. (NP) Stock
Neenah Paper, Inc. (NYSE:NP) SVP Matthew L. Duncan sold 1,107 shares of the company’s stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $79.00, for a total transaction of $87,453.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.
Shares of Neenah Paper, Inc. (NYSE:NP) remained flat at $79.15 during trading on Tuesday. 10,878 shares of the company traded hands. The company has a 50 day moving average of $78.01 and a 200 day moving average of $77.36. Neenah Paper, Inc. has a 12 month low of $72.35 and a 12 month high of $90.22. The company has a market cap of $1.33 billion, a PE ratio of 18.03 and a beta of 1.30.
Neenah Paper (NYSE:NP) last released its earnings results on Wednesday, August 2nd. The basic materials company reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.14. The business had revenue of $248.70 million for the quarter, compared to the consensus estimate of $250.88 million. Neenah Paper had a net margin of 7.99% and a return on equity of 21.03%. The firm’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same period last year, the firm posted $1.26 earnings per share. Analysts expect that Neenah Paper, Inc. will post $4.18 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 5th. Stockholders of record on Friday, August 18th were given a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 1.87%. The ex-dividend date was Wednesday, August 16th. Neenah Paper’s dividend payout ratio (DPR) is currently 33.71%.
Neenah Paper declared that its board has authorized a stock repurchase program on Thursday, May 25th that permits the company to repurchase $25.00 million in outstanding shares. This repurchase authorization permits the basic materials company to purchase up to 2% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.
Several brokerages recently issued reports on NP. BidaskClub raised shares of Neenah Paper from a “strong sell” rating to a “sell” rating in a research note on Monday, July 31st. Zacks Investment Research raised shares of Neenah Paper from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 12th. Finally, ValuEngine downgraded shares of Neenah Paper from a “buy” rating to a “hold” rating in a research note on Saturday, May 27th.
Several institutional investors have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio increased its position in shares of Neenah Paper by 2,688.7% in the second quarter. Public Employees Retirement System of Ohio now owns 24,234 shares of the basic materials company’s stock worth $1,945,000 after acquiring an additional 23,365 shares in the last quarter. Piedmont Investment Advisors LLC purchased a new position in shares of Neenah Paper in the second quarter worth approximately $291,000. The Manufacturers Life Insurance Company increased its position in shares of Neenah Paper by 1.1% in the second quarter. The Manufacturers Life Insurance Company now owns 13,092 shares of the basic materials company’s stock worth $1,051,000 after acquiring an additional 148 shares in the last quarter. State Street Corp increased its position in shares of Neenah Paper by 4.8% in the second quarter. State Street Corp now owns 430,870 shares of the basic materials company’s stock worth $34,575,000 after acquiring an additional 19,548 shares in the last quarter. Finally, Macquarie Group Ltd. increased its position in shares of Neenah Paper by 33.8% in the second quarter. Macquarie Group Ltd. now owns 585,928 shares of the basic materials company’s stock worth $47,021,000 after acquiring an additional 147,915 shares in the last quarter. 93.04% of the stock is currently owned by institutional investors and hedge funds.
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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