Neenah Paper (NYSE:NP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Saturday.

According to Zacks, “Neenah is a leading global specialty materials company, focused on premium niche markets that include advanced filtration media, specialized substrates used for tapes, labels and other products, and premium printing and packaging papers. The company is headquartered in Alpharetta, Georgia and its products are sold in over 70 countries worldwide from manufacturing operations in the United States and Germany. “

Separately, DA Davidson reaffirmed a “neutral” rating on shares of Neenah Paper in a research note on Thursday, November 9th.

Neenah Paper (NYSE:NP) traded down $0.45 during midday trading on Friday, hitting $92.80. The stock had a trading volume of 49,981 shares, compared to its average volume of 67,607. The company has a market capitalization of $1,568.31, a price-to-earnings ratio of 20.44, a price-to-earnings-growth ratio of 3.91 and a beta of 1.27. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.44 and a current ratio of 2.52. Neenah Paper has a 1 year low of $72.35 and a 1 year high of $93.45.

Neenah Paper (NYSE:NP) last released its quarterly earnings data on Tuesday, November 7th. The basic materials company reported $1.02 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.01. The firm had revenue of $245.10 million during the quarter, compared to analyst estimates of $240.60 million. Neenah Paper had a return on equity of 20.48% and a net margin of 8.13%. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.99 earnings per share. sell-side analysts forecast that Neenah Paper will post 4.19 earnings per share for the current fiscal year.

Neenah Paper declared that its board has authorized a share repurchase program on Wednesday, November 29th that allows the company to repurchase $25.00 million in shares. This repurchase authorization allows the basic materials company to reacquire shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

In other news, VP Larry Newton Brownlee sold 458 shares of the company’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $87.62, for a total value of $40,129.96. Following the completion of the transaction, the vice president now owns 2,370 shares of the company’s stock, valued at $207,659.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider John P. O’donnell sold 5,424 shares of the business’s stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $91.50, for a total value of $496,296.00. Following the completion of the sale, the insider now owns 82,390 shares in the company, valued at $7,538,685. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,710 shares of company stock valued at $1,322,514. Corporate insiders own 2.00% of the company’s stock.

Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in shares of Neenah Paper by 1.5% in the second quarter. Vanguard Group Inc. now owns 910,945 shares of the basic materials company’s stock worth $73,103,000 after buying an additional 13,120 shares in the last quarter. Wells Fargo & Company MN lifted its position in shares of Neenah Paper by 3.4% in the third quarter. Wells Fargo & Company MN now owns 869,568 shares of the basic materials company’s stock worth $74,392,000 after buying an additional 28,391 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Neenah Paper by 1.0% in the third quarter. Dimensional Fund Advisors LP now owns 714,174 shares of the basic materials company’s stock worth $61,098,000 after buying an additional 7,164 shares in the last quarter. Macquarie Group Ltd. lifted its position in shares of Neenah Paper by 11.9% in the third quarter. Macquarie Group Ltd. now owns 655,539 shares of the basic materials company’s stock worth $56,081,000 after buying an additional 69,611 shares in the last quarter. Finally, State Street Corp lifted 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 buying an additional 19,548 shares in the last quarter. Institutional investors own 89.82% of the company’s stock.

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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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