PineBridge Investments L.P. raised its stake in Neenah Paper Inc. (NYSE:NP) by 3.7% during the second quarter, Holdings Channel reports. The firm owned 2,122 shares of the company’s stock after buying an additional 75 shares during the period. PineBridge Investments L.P.’s holdings in Neenah Paper were worth $153,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in NP. 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 in the last quarter. Opus Capital Group LLC increased its stake in Neenah Paper by 1.2% in the second quarter. Opus Capital Group LLC now owns 3,215 shares of the company’s stock valued at $233,000 after buying an additional 38 shares in the last quarter. 1st Global Advisors Inc. increased its stake in Neenah Paper by 0.7% in the second quarter. 1st Global Advisors Inc. now owns 6,429 shares of the company’s stock valued at $465,000 after buying an additional 44 shares in the last quarter. Barclays PLC increased its stake in Neenah Paper by 0.9% in the first quarter. Barclays PLC now owns 17,467 shares of the company’s stock valued at $1,101,000 after buying an additional 157 shares in the last quarter. Finally, M&T Bank Corp increased its stake in Neenah Paper by 1.5% in the second quarter. M&T Bank Corp now owns 13,633 shares of the company’s stock valued at $986,000 after buying an additional 199 shares in the last quarter. Institutional investors own 88.73% of the company’s stock.
Shares of Neenah Paper Inc. (NYSE:NP) opened at 79.01 on Friday. The firm has a 50-day moving average of $78.23 and a 200-day moving average of $71.16. The company has a market capitalization of $1.33 billion, a P/E ratio of 23.54 and a beta of 1.57. Neenah Paper Inc. has a one year low of $52.70 and a one year high of $82.24.
Neenah Paper (NYSE:NP) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $1.26 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.14 by $0.12. Neenah Paper had a net margin of 6.04% and a return on equity of 22.41%. The firm had revenue of $246 million for the quarter, compared to analyst estimates of $250.55 million. During the same quarter in the previous year, the firm posted $0.97 earnings per share. The business’s revenue was up 16.4% on a year-over-year basis. Equities research analysts expect that Neenah Paper Inc. will post $4.38 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 2nd. Shareholders of record on Friday, August 12th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date of this dividend was Wednesday, August 10th. Neenah Paper’s payout ratio is currently 39.40%.
Several research firms recently issued reports on NP. Zacks Investment Research raised shares of Neenah Paper from a “hold” rating to a “buy” rating and set a $85.00 price objective for the company in a 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 objective for the company. in a report on Friday, August 5th. They noted that the move was a valuation call.
In other news, SVP Julie Schertell sold 1,400 shares of Neenah Paper stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $76.00, for a total value of $106,400.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Larry Newton Brownlee sold 368 shares of Neenah Paper stock in a transaction that occurred on Wednesday, August 31st. The shares were sold at an average price of $80.56, for a total transaction of $29,646.08. Following the completion of the sale, the vice president now owns 368 shares in the company, valued at $29,646.08. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.
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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