Boston Advisors LLC lowered its stake in Neenah Paper Inc. (NYSE:NP) by 0.2% during the second quarter, Holdings Channel reports. The institutional investor owned 73,008 shares of the company’s stock after selling 170 shares during the period. Boston Advisors LLC’s holdings in Neenah Paper were worth $5,284,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Bank of Montreal Can acquired a new stake in Neenah Paper during the second quarter valued at approximately $112,000. Creative Planning increased its stake in Neenah Paper by 1.7% in the second quarter. Creative Planning now owns 1,689 shares of the company’s stock valued at $122,000 after buying an additional 29 shares during the period. Cutler Group LP increased its stake in Neenah Paper by 44.4% in the first quarter. Cutler Group LP now owns 2,455 shares of the company’s stock valued at $156,000 after buying an additional 755 shares during the period. Capstone Asset Management Co. increased its stake in Neenah Paper by 6.6% in the second quarter. Capstone Asset Management Co. now owns 5,473 shares of the company’s stock valued at $396,000 after buying an additional 340 shares during the period. Finally, BNP Paribas Arbitrage SA increased its stake in Neenah Paper by 92.2% in the second quarter. BNP Paribas Arbitrage SA now owns 5,671 shares of the company’s stock valued at $410,000 after buying an additional 2,720 shares during the period. Institutional investors and hedge funds own 88.73% of the company’s stock.
Shares of Neenah Paper Inc. (NYSE:NP) traded down 0.54% during trading on Thursday, reaching $79.06. 62,867 shares of the company’s stock were exchanged. The company’s 50-day moving average is $78.16 and its 200 day moving average is $71.02. The stock has a market capitalization of $1.33 billion, a PE ratio of 23.55 and a beta of 1.57. Neenah Paper Inc. has a 52 week low of $52.70 and a 52 week high of $82.24.
Neenah Paper (NYSE:NP) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.12. The company had revenue of $246 million for the quarter, compared to analyst estimates of $250.55 million. Neenah Paper had a net margin of 6.04% and a return on equity of 22.41%. The business’s quarterly revenue was up 16.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.97 earnings per share. On average, analysts forecast that Neenah Paper Inc. will post $4.38 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 2nd. Stockholders of record on Friday, August 12th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date was Wednesday, August 10th. Neenah Paper’s payout ratio is currently 39.40%.
NP has been the subject of several research reports. Zacks Investment Research upgraded shares of Neenah Paper from a “hold” rating to a “buy” rating and set a $85.00 price target for the company in a research report on Tuesday, August 9th. DA Davidson downgraded shares of Neenah Paper from a “buy” rating to a “neutral” rating and set a $78.00 price target for the company. in a research report on Friday, August 5th. They noted that the move was a valuation call.
In other news, VP Larry Newton Brownlee sold 2,913 shares of the firm’s stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $76.76, for a total transaction of $223,601.88. Following the completion of the sale, the vice president now owns 442 shares of the company’s stock, valued at $33,927.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP James R. Piedmonte sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, September 9th. The stock was sold at an average price of $79.60, for a total transaction of $796,000.00. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.
About Neenah Paper
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).
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