Brokerages Anticipate Neenah Paper, Inc. (NP) to Post $0.92 Earnings Per Share

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

Analysts have set a 12 month consensus price target 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 59 out of 265 based on the ratings given to its competitors.

Several brokerages have recently commented on NP. Zacks Investment Research upgraded Neenah Paper from a “hold” rating to a “buy” rating and set a $104.00 price objective on the stock in a research report on Tuesday, January 16th. DA Davidson restated a “neutral” rating on shares of Neenah Paper in a research report on Thursday, November 9th.

In other news, VP Larry Newton Brownlee sold 458 shares of Neenah Paper 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 sale, the vice president now directly owns 2,370 shares of the company’s stock, valued at $207,659.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Byron Jason Racki sold 1,107 shares of Neenah Paper stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $88.13, for a total value of $97,559.91. Following the completion of the sale, the insider now directly owns 2,595 shares in the company, valued at $228,697.35. The disclosure for this sale can be found here. Insiders sold 21,021 shares of company stock worth $1,913,120 over the last ninety days. Insiders own 2.00% of the company’s stock.

Several hedge funds have recently modified their holdings of NP. BlackRock Inc. boosted its position in shares of Neenah Paper by 4.1% during the fourth quarter. BlackRock Inc. now owns 2,134,590 shares of the basic materials company’s stock valued at $193,501,000 after buying an additional 84,247 shares during the period. Rhumbline Advisers boosted its position in shares of Neenah Paper by 9.8% during the fourth quarter. Rhumbline Advisers now owns 53,098 shares of the basic materials company’s stock valued at $4,813,000 after buying an additional 4,732 shares during the period. Arizona State Retirement System boosted its position in shares of Neenah Paper by 223.1% during the fourth quarter. Arizona State Retirement System now owns 28,266 shares of the basic materials company’s stock valued at $2,562,000 after buying an additional 19,518 shares during the period. Pinebridge Investments L.P. boosted its position in shares of Neenah Paper by 198.7% during the fourth quarter. Pinebridge Investments L.P. now owns 6,231 shares of the basic materials company’s stock valued at $565,000 after buying an additional 4,145 shares during the period. Finally, Wells Fargo & Company MN boosted its position in shares of Neenah Paper by 8.0% during the fourth quarter. Wells Fargo & Company MN now owns 939,147 shares of the basic materials company’s stock valued at $85,134,000 after buying an additional 69,579 shares during the period. 89.80% of the stock is currently owned by hedge funds and other institutional investors.

Neenah Paper (NYSE NP) opened at $84.85 on Monday. Neenah Paper has a 52-week low of $72.35 and a 52-week high of $95.40. The company has a market capitalization of $1,427.01, a PE ratio of 18.69, a PEG ratio of 3.56 and a beta of 1.17. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.52 and a quick ratio of 1.44.

Neenah Paper announced that its Board of Directors has initiated a stock buyback program on Wednesday, November 29th that permits the company to repurchase $25.00 million in outstanding shares. This repurchase authorization permits the basic materials company to repurchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

The company also recently announced a quarterly dividend, which will be paid on Friday, March 2nd. Stockholders of record on Friday, February 16th will be issued a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 1.93%. This is a boost from Neenah Paper’s previous quarterly dividend of $0.37. The ex-dividend date is Thursday, February 15th. Neenah Paper’s payout ratio is 32.60%.

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Neenah Paper Company Profile

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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