Emerald Acquisition Ltd. bought a new position in shares of Neenah Paper Inc. (NYSE:NP) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 23,120 shares of the company’s stock, valued at approximately $1,674,000. Emerald Acquisition Ltd. owned approximately 0.14% of Neenah Paper as of its most recent SEC filing.
Several other hedge funds also recently added to or reduced their stakes in NP. Neumeier Poma Investment Counsel LLC acquired a new position in Neenah Paper during the first quarter worth approximately $14,720,000. BB&T Corp boosted its position in Neenah Paper by 923.9% in the second quarter. BB&T Corp now owns 74,896 shares of the company’s stock worth $5,419,000 after buying an additional 67,581 shares during the last quarter. James Investment Research Inc. boosted its position in Neenah Paper by 53.2% in the second quarter. James Investment Research Inc. now owns 186,822 shares of the company’s stock worth $13,521,000 after buying an additional 64,852 shares during the last quarter. TIAA CREF Investment Management LLC boosted its position in Neenah Paper by 26.4% in the first quarter. TIAA CREF Investment Management LLC now owns 106,455 shares of the company’s stock worth $6,777,000 after buying an additional 22,210 shares during the last quarter. Finally, NWQ Investment Management Company LLC boosted its position in Neenah Paper by 2.3% in the first quarter. NWQ Investment Management Company LLC now owns 490,675 shares of the company’s stock worth $31,236,000 after buying an additional 10,890 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 down 1.0916% during midday trading on Monday, hitting $78.1475. The stock had a trading volume of 39,925 shares. The stock’s 50-day moving average price is $78.23 and its 200 day moving average price is $71.16. Neenah Paper Inc. has a 52 week low of $52.70 and a 52 week high of $82.24. The company has a market cap of $1.31 billion, a price-to-earnings ratio of 23.2790 and a beta of 1.45.
Neenah Paper (NYSE:NP) last posted its earnings results on Wednesday, August 3rd. The company reported $1.26 earnings per share for the quarter, topping 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 company had revenue of $246 million for the quarter, compared to analyst estimates of $250.55 million. During the same quarter in the prior year, the business posted $0.97 EPS. The firm’s revenue was up 16.4% compared to the same quarter last year. On average, equities analysts forecast that Neenah Paper Inc. will post $4.38 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, September 12th. Investors of record on Friday, September 2nd were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.67%. Neenah Paper’s dividend payout ratio is presently 39.40%.
A number of equities analysts recently commented on NP shares. Zacks Investment Research upgraded Neenah Paper from a “hold” rating to a “buy” rating and set a $85.00 price target for the company in a report on Tuesday, August 9th. DA Davidson cut 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 James R. Piedmonte sold 10,000 shares of the firm’s stock in a transaction that occurred on 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Larry Newton Brownlee sold 2,913 shares of the firm’s stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $76.76, for a total transaction of $223,601.88. Following the sale, the vice president now owns 442 shares of the company’s stock, valued at approximately $33,927.92. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate 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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