Advisors Asset Management Inc. decreased its stake in Neenah Paper Inc. (NYSE:NP) by 12.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,056 shares of the company’s stock after selling 985 shares during the period. Advisors Asset Management Inc.’s holdings in Neenah Paper were worth $511,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in NP. Bank of Montreal Can bought a new stake in Neenah Paper during the second quarter worth about $112,000. Creative Planning raised its stake in Neenah Paper by 1.7% in the second quarter. Creative Planning now owns 1,689 shares of the company’s stock worth $122,000 after buying an additional 29 shares during the last quarter. Cutler Group LP raised 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 worth $156,000 after buying an additional 755 shares during the last quarter. Sawgrass Asset Management LLC bought a new stake in Neenah Paper during the second quarter worth about $215,000. Finally, Opus Capital Group LLC raised 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 worth $233,000 after buying an additional 38 shares during the last quarter. 88.73% of the stock is currently owned by institutional investors and hedge funds.
Shares of Neenah Paper Inc. (NYSE:NP) traded up 0.86% on Tuesday, hitting $79.99. The company’s stock had a trading volume of 106,446 shares. The company has a market cap of $1.34 billion, a price-to-earnings ratio of 23.83 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. The stock’s 50 day moving average is $77.84 and its 200-day moving average is $70.77.
Neenah Paper (NYSE:NP) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported $1.26 EPS 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 business had revenue of $246 million for the quarter, compared to analyst estimates of $250.55 million. During the same quarter last year, the business earned $0.97 earnings per share. The business’s revenue for the quarter was up 16.4% on a year-over-year basis. On average, equities research analysts anticipate that Neenah Paper Inc. will post $4.38 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 2nd. Investors of record on Friday, August 12th were paid a dividend of $0.33 per share. The ex-dividend date was Wednesday, August 10th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.66%. Neenah Paper’s dividend payout ratio is presently 39.40%.
A number of equities research analysts recently issued reports on the company. Zacks Investment Research raised Neenah Paper from a “hold” rating to a “buy” rating and set a $85.00 target price on the stock in a research note on Tuesday, August 9th. DA Davidson lowered Neenah Paper from a “buy” rating to a “neutral” rating and set a $78.00 target price on the stock. in a research note on Friday, August 5th. They noted that the move was a valuation call.
In other Neenah Paper news, VP Larry Newton Brownlee sold 2,913 shares of Neenah Paper stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $76.76, for a total value of $223,601.88. Following the transaction, the vice president now owns 442 shares in the company, valued at $33,927.92. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP James R. Piedmonte sold 10,000 shares of Neenah Paper 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. 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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