JPMorgan Chase & Co. increased its position in Neenah Paper Inc. (NYSE:NP) by 475.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 73,328 shares of the company’s stock after buying an additional 60,592 shares during the period. JPMorgan Chase & Co. owned 0.44% of Neenah Paper worth $5,308,000 as of its most recent filing with the SEC.
Several other hedge funds also recently modified their holdings of the company. Bank of Montreal Can bought a new stake in shares of Neenah Paper during the second quarter worth about $112,000. Creative Planning increased its stake in shares of Neenah Paper by 1.7% in the second quarter. Creative Planning now owns 1,689 shares of the company’s stock worth $122,000 after buying an additional 29 shares during the period. Cutler Group LP increased its stake in shares of Neenah Paper by 44.4% in the first quarter. Cutler Group LP now owns 2,455 shares of the company’s stock worth $156,000 after buying an additional 755 shares during the period. Sawgrass Asset Management LLC bought a new stake in shares of Neenah Paper during the second quarter worth about $215,000. Finally, Opus Capital Group LLC increased its stake in shares of Neenah Paper by 1.2% in the second quarter. Opus Capital Group LLC now owns 3,215 shares of the company’s stock worth $233,000 after buying an additional 38 shares during the period. 88.73% of the stock is owned by institutional investors and hedge funds.
Shares of Neenah Paper Inc. (NYSE:NP) traded down 0.99% during mid-day trading on Thursday, hitting $78.93. The company had a trading volume of 11,348 shares. The firm has a 50-day moving average of $79.16 and a 200-day moving average of $72.18. Neenah Paper Inc. has a 12 month low of $52.70 and a 12 month high of $82.24. The company has a market cap of $1.32 billion, a PE ratio of 23.51 and a beta of 1.45.
Neenah Paper (NYSE:NP) last released its quarterly earnings data on Wednesday, August 3rd. The company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.12. The business earned $246 million during the quarter, compared to analyst estimates of $250.55 million. Neenah Paper had a return on equity of 22.41% and a net margin of 6.04%. The company’s revenue was up 16.4% compared to the same quarter last year. During the same period last year, the company posted $0.97 EPS. On average, analysts expect that Neenah Paper Inc. will post $4.38 EPS for the current year.
A number of brokerages recently issued reports on NP. DA Davidson downgraded Neenah Paper from a “buy” rating to a “neutral” rating and set a $78.00 price objective for the company. in a research report on Friday, August 5th. They noted that the move was a valuation call. Zacks Investment Research raised Neenah Paper from a “hold” rating to a “buy” rating and set a $85.00 price objective for the company in a research report on Tuesday, August 9th.
In other news, VP Larry Newton Brownlee sold 368 shares of the firm’s stock in a transaction on Wednesday, August 31st. The stock was sold at an average price of $80.56, for a total value of $29,646.08. Following the completion of the sale, the vice president now owns 368 shares of the company’s stock, valued at $29,646.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP James R. Piedmonte sold 10,000 shares of the firm’s stock in a transaction on Friday, September 9th. The stock was sold at an average price of $79.60, for a total value of $796,000.00. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.
Neenah Paper Company Profile
Neenah Paper, Inc has two principal operations, technical products business, and fine paper and packaging business. The Company’s segments consist of Technical Products, Fine Paper and Packaging, and Other. The technical products business is an international producer of fiber-formed, coated and/or saturated specialized media, which includes filtration media (Filtration), tape and abrasives backings products (Backings), and durable label and specialty substrate products (Specialty).
Want to see what other hedge funds are holding NP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Neenah Paper Inc. (NYSE:NP).
Receive News & Ratings for Neenah Paper Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Neenah Paper Inc. and related companies with MarketBeat.com's FREE daily email newsletter.