Zacks: Neenah Paper, Inc. (NP) Given Average Recommendation of “Hold” by Analysts

Neenah Paper, Inc. (NYSE:NP) has been assigned an average broker rating score of 3.00 (Hold) from the two brokers that cover the stock, Zacks Investment Research reports. Two investment analysts have rated the stock with a hold rating.

Brokers have set a one year consensus target price of $80.50 for the company and are anticipating that the company will post $0.92 EPS for the current quarter, according to Zacks. Zacks has also given Neenah Paper an industry rank of 97 out of 265 based on the ratings given to its competitors.

A number of equities analysts recently weighed in on the company. Zacks Investment Research raised Neenah Paper from a “hold” rating to a “buy” rating and set a $102.00 price objective on the stock in a report on Wednesday, January 10th. DA Davidson reissued a “neutral” rating on shares of Neenah Paper in a report on Thursday, November 9th.

Shares of Neenah Paper (NYSE NP) traded down $0.45 on Friday, hitting $94.40. The stock had a trading volume of 56,055 shares, compared to its average volume of 58,644. The company has a market cap of $1,595.22, a P/E ratio of 20.79, a PEG ratio of 3.98 and a beta of 1.27. The company has a current ratio of 2.52, a quick ratio of 1.44 and a debt-to-equity ratio of 0.56. Neenah Paper has a 12-month low of $72.35 and a 12-month high of $95.40.

Neenah Paper (NYSE:NP) last issued its quarterly earnings results on Tuesday, November 7th. The basic materials company reported $1.02 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.01. The firm had revenue of $245.10 million during the quarter, compared to the consensus estimate of $240.60 million. Neenah Paper had a return on equity of 20.48% and a net margin of 8.13%. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter last year, the company posted $0.99 EPS. equities research analysts expect that Neenah Paper will post 4.19 EPS for the current year.

Neenah Paper declared that its Board of Directors has authorized a share buyback plan on Wednesday, November 29th that permits the company to buyback $25.00 million in outstanding shares. This buyback authorization permits the basic materials company to repurchase shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.

In other Neenah Paper news, Director Timothy S. Lucas sold 2,000 shares of Neenah Paper stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $87.90, for a total value of $175,800.00. Following the transaction, the director now directly owns 15,693 shares of the company’s stock, valued at approximately $1,379,414.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John P. O’donnell sold 5,424 shares of Neenah Paper stock in a transaction that occurred on 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 transaction, the insider now directly owns 82,390 shares in the company, valued at $7,538,685. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,911 shares of company stock worth $1,715,307. 2.00% of the stock is currently owned by insiders.

Institutional investors have recently made changes to their positions in the business. Macquarie Group Ltd. increased its stake in Neenah Paper by 33.8% in the 2nd quarter. Macquarie Group Ltd. now owns 585,928 shares of the basic materials company’s stock worth $47,021,000 after purchasing an additional 147,915 shares during the period. New York State Common Retirement Fund increased its stake in Neenah Paper by 7.1% in the 3rd quarter. New York State Common Retirement Fund now owns 32,640 shares of the basic materials company’s stock worth $2,792,000 after purchasing an additional 2,153 shares during the period. Granite Investment Partners LLC increased its stake in Neenah Paper by 25.2% in the 3rd quarter. Granite Investment Partners LLC now owns 190,271 shares of the basic materials company’s stock worth $16,278,000 after purchasing an additional 38,243 shares during the period. Copeland Capital Management LLC increased its stake in Neenah Paper by 1.7% in the 3rd quarter. Copeland Capital Management LLC now owns 188,876 shares of the basic materials company’s stock worth $16,158,000 after purchasing an additional 3,172 shares during the period. Finally, Stifel Financial Corp increased its stake in Neenah Paper by 5.6% in the 3rd quarter. Stifel Financial Corp now owns 134,401 shares of the basic materials company’s stock worth $11,514,000 after purchasing an additional 7,102 shares during the period. 89.86% of the stock is currently owned by institutional investors and hedge funds.

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About Neenah Paper

Neenah, Inc, formerly Neenah Paper, Inc, is a materials company focused in niche markets. The Company has two primary businesses: technical products, and fine paper and packaging. The technical products business is an international producer of transportation, water and other filtration media, digital transfer materials, tape and abrasive backings, labels and other performance-oriented substrates.

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