Neenah Paper, Inc. (NYSE:NP) insider John P. O’donnell sold 1,807 shares of the business’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $89.54, for a total transaction of $161,798.78. Following the sale, the insider now owns 78,773 shares in the company, valued at approximately $7,053,334.42. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Shares of Neenah Paper, Inc. (NYSE NP) traded down $0.65 during trading on Thursday, reaching $89.50. 71,600 shares of the company were exchanged, compared to its average volume of 79,035. The company has a market cap of $1,516.18, a PE ratio of 20.63, a price-to-earnings-growth ratio of 4.30 and a beta of 1.27. Neenah Paper, Inc. has a 52 week low of $72.35 and a 52 week high of $90.75. The company has a current ratio of 2.52, a quick ratio of 1.44 and a debt-to-equity ratio of 0.56.
Neenah Paper (NYSE:NP) last announced its quarterly earnings results on Tuesday, November 7th. The basic materials company reported $1.02 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.01. The company had revenue of $245.10 million for the quarter, compared to analysts’ expectations of $240.60 million. Neenah Paper had a net margin of 8.13% and a return on equity of 20.48%. Neenah Paper’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.99 EPS. research analysts anticipate that Neenah Paper, Inc. will post 4.19 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, December 4th. Investors of record on Friday, November 17th were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date was Thursday, November 16th. Neenah Paper’s payout ratio is 32.60%.
Neenah Paper declared that its Board of Directors has initiated a share 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 buy shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.
A number of institutional investors have recently made changes to their positions in the stock. Alps Advisors Inc. boosted its stake in Neenah Paper by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 6,431 shares of the basic materials company’s stock worth $516,000 after purchasing an additional 17 shares in the last quarter. Pinebridge Investments L.P. raised its position in Neenah Paper by 0.8% in the 2nd quarter. Pinebridge Investments L.P. now owns 2,211 shares of the basic materials company’s stock worth $178,000 after buying an additional 18 shares during the last quarter. Texas Permanent School Fund raised its position in Neenah Paper by 0.7% in the 2nd quarter. Texas Permanent School Fund now owns 12,257 shares of the basic materials company’s stock worth $984,000 after buying an additional 90 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. raised its position in Neenah Paper by 0.4% in the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 27,018 shares of the basic materials company’s stock worth $2,168,000 after buying an additional 100 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in Neenah Paper by 1.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,092 shares of the basic materials company’s stock worth $1,051,000 after buying an additional 148 shares during the last quarter. Institutional investors own 92.89% of the company’s stock.
NP has been the topic of a number of research reports. Zacks Investment Research cut shares of Neenah Paper from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. BidaskClub cut shares of Neenah Paper from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 9th. Finally, DA Davidson reiterated a “neutral” rating on shares of Neenah Paper in a research note on Thursday, November 9th.
Neenah Paper Company Profile
Neenah Paper, Inc is a producer of technical products and premium fine papers and packaging. The Company has two primary businesses: technical products business, and fine paper and packaging business. Its segments consist of Technical Products, Fine Paper and Packaging, and Other. The technical products business is an international producer of transportation, water and other filter media and durable, saturated and coated substrates.
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