Zacks: Neenah Paper, Inc. (NP) Receives Average Recommendation of “Hold” from Brokerages

Shares of Neenah Paper, Inc. (NYSE:NP) have received a consensus broker rating score of 3.00 (Hold) from the two brokers that cover the company, Zacks Investment Research reports. Two analysts have rated the stock with a hold rating.

Brokerages have set a 12-month consensus target price of $80.50 for the company and are forecasting that the company will post $0.92 earnings per share for the current quarter, according to Zacks. Zacks has also given Neenah Paper an industry rank of 111 out of 265 based on the ratings given to its competitors.

NP has been the topic of several research reports. DA Davidson reaffirmed a “neutral” rating on shares of Neenah Paper in a report on Thursday, November 9th. Zacks Investment Research cut Neenah Paper from a “buy” rating to a “hold” rating in a report on Saturday.

Shares of Neenah Paper (NP) traded down $0.45 during trading hours on Wednesday, reaching $92.80. The company had a trading volume of 49,981 shares, compared to its average volume of 67,607. Neenah Paper has a 1 year low of $72.35 and a 1 year high of $93.45. The company has a market capitalization of $1,568.31, a PE ratio of 20.44, a price-to-earnings-growth ratio of 3.91 and a beta of 1.27. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.44 and a current ratio of 2.52.

Neenah Paper (NYSE:NP) last posted its quarterly earnings results on Tuesday, November 7th. The basic materials company reported $1.02 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 return on equity of 20.48% and a net margin of 8.13%. The firm’s revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.99 earnings per share. equities analysts predict that Neenah Paper will post 4.19 earnings per share for the current fiscal year.

Neenah Paper announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, November 29th that permits the company to buyback $25.00 million in outstanding shares. This buyback authorization permits the basic materials company to repurchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

In other news, insider Byron Jason Racki sold 1,107 shares of the business’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $88.13, for a total transaction of $97,559.91. Following the transaction, the insider now directly owns 2,595 shares in the company, valued at approximately $228,697.35. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Larry Newton Brownlee sold 458 shares of the business’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $87.62, for a total transaction of $40,129.96. Following the transaction, the vice president now owns 2,370 shares in the company, valued at $207,659.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,710 shares of company stock worth $1,322,514. Company insiders own 2.00% of the company’s stock.

Large investors have recently modified their holdings of the stock. Riverhead Capital Management LLC boosted its holdings in Neenah Paper by 83.1% in the second quarter. Riverhead Capital Management LLC now owns 1,465 shares of the basic materials company’s stock worth $117,000 after purchasing an additional 665 shares in the last quarter. Bruderman Asset Management LLC bought a new stake in Neenah Paper in the second quarter worth $127,000. Pinebridge Investments L.P. boosted its holdings in Neenah Paper by 0.8% in the second quarter. Pinebridge Investments L.P. now owns 2,211 shares of the basic materials company’s stock worth $178,000 after purchasing an additional 18 shares in the last quarter. Magnetar Financial LLC bought a new stake in Neenah Paper in the third quarter worth $205,000. Finally, Cambridge Investment Research Advisors Inc. bought a new stake in Neenah Paper in the third quarter worth $221,000. Hedge funds and other institutional investors own 89.82% of the company’s stock.

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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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