Swiss National Bank increased its stake in Neenah Paper Inc. (NYSE:NP) by 1.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 28,700 shares of the company’s stock after buying an additional 500 shares during the period. Swiss National Bank owned 0.17% of Neenah Paper worth $2,077,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NP. Bank of Montreal Can purchased a new stake in shares of Neenah Paper during the second quarter valued at 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 valued at $122,000 after buying an additional 29 shares during the last quarter. 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 valued at $156,000 after buying an additional 755 shares during the last quarter. Aviance Capital Management LLC increased its stake in shares of Neenah Paper by 11.3% in the second quarter. Aviance Capital Management LLC now owns 3,927 shares of the company’s stock valued at $284,000 after buying an additional 400 shares during the last quarter. Finally, Capstone Asset Management Co. increased its stake in shares of 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 last quarter. Institutional investors own 89.26% of the company’s stock.
Neenah Paper Inc. (NYSE:NP) traded up 0.35% during mid-day trading on Tuesday, hitting $78.17. 69,532 shares of the stock traded hands. The stock has a market cap of $1.31 billion, a P/E ratio of 23.29 and a beta of 1.57. The stock has a 50-day moving average price of $77.38 and a 200-day moving average price of $70.06. Neenah Paper Inc. has a 12 month low of $52.70 and a 12 month high of $82.24.
Neenah Paper (NYSE:NP) last released its quarterly earnings results 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. Neenah Paper had a net margin of 6.04% and a return on equity of 22.41%. The firm earned $246 million during the quarter, compared to the consensus estimate of $250.55 million. During the same quarter in the prior year, the firm earned $0.97 EPS. The company’s revenue for the quarter was up 16.4% on a year-over-year basis. On average, equities 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. Investors of record on Friday, August 12th were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Wednesday, August 10th. This represents a $1.32 annualized dividend and a dividend yield of 1.69%. Neenah Paper’s dividend payout ratio (DPR) is presently 39.40%.
Several analysts have issued reports on the stock. Zacks Investment Research downgraded shares of Neenah Paper from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 13th. 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 note on Friday, August 5th. They noted that the move was a valuation call.
In related news, SVP James R. Piedmonte sold 10,000 shares of the company’s stock in a transaction dated Friday, September 9th. The shares were sold at an average price of $79.60, for a total transaction of $796,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Larry Newton Brownlee sold 368 shares of the company’s stock in a transaction dated Wednesday, August 31st. The shares were sold at an average price of $80.56, for a total transaction of $29,646.08. Following the sale, the vice president now directly owns 368 shares of the company’s stock, valued at approximately $29,646.08. The disclosure for this sale can be found here. Corporate 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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