Zacks Investment Research upgraded shares of Neenah Paper Inc. (NYSE:NP) from a strong sell rating to a hold rating in a research note released on Tuesday.
According to Zacks, “Neenah is a leading global specialty materials company, focused on premium niche markets that include advanced filtration media, specialized substrates used for tapes, labels and other products, and premium printing and packaging papers. The company is headquartered in Alpharetta, Georgia and its products are sold in over 70 countries worldwide from manufacturing operations in the United States and Germany. “
Separately, DA Davidson downgraded shares of Neenah Paper from a buy rating to a neutral rating and set a $78.00 price target on the stock. in a research report on Friday, August 5th. They noted that the move was a valuation call.
Neenah Paper (NYSE:NP) opened at 85.70 on Tuesday. The firm’s 50-day moving average is $80.50 and its 200-day moving average is $75.70. Neenah Paper has a 1-year low of $52.70 and a 1-year high of $86.30. The stock has a market cap of $1.44 billion, a P/E ratio of 21.52 and a beta of 1.45.
Neenah Paper (NYSE:NP) last released its quarterly earnings results on Tuesday, November 8th. The company reported $0.99 EPS for the quarter, hitting analysts’ consensus estimates of $0.99. Neenah Paper had a net margin of 7.12% and a return on equity of 22.20%. The company had revenue of $232.90 million for the quarter, compared to the consensus estimate of $243.15 million. During the same period in the previous year, the firm earned $0.89 EPS. Neenah Paper’s revenue was up .6% on a year-over-year basis. On average, analysts forecast that Neenah Paper will post $4.31 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 2nd. Investors of record on Friday, November 11th will be issued a $0.33 dividend. The ex-dividend date of this dividend is Tuesday, November 8th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.54%. Neenah Paper’s payout ratio is currently 33.42%.
In other Neenah Paper news, Director William M. Cook bought 500 shares of the company’s stock in a transaction that occurred on Monday, November 14th. The shares were acquired at an average cost of $81.68 per share, for a total transaction of $40,840.00. Following the acquisition, the director now directly owns 1,563 shares of the company’s stock, valued at $127,665.84. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Stephen Michael Wood sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, November 18th. The stock was sold at an average price of $85.00, for a total transaction of $85,000.00. Following the completion of the sale, the director now owns 33,625 shares in the company, valued at $2,858,125. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in NP. Bank of Montreal Can increased its stake in Neenah Paper by 0.4% in the third quarter. Bank of Montreal Can now owns 1,558 shares of the company’s stock worth $124,000 after buying an additional 6 shares during the last quarter. Bruderman Asset Management LLC increased its stake in Neenah Paper by 0.4% in the third quarter. Bruderman Asset Management LLC now owns 2,217 shares of the company’s stock worth $175,000 after buying an additional 8 shares during the last quarter. Creative Planning increased its position in 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 period. Opus Capital Group LLC increased its position in Neenah Paper by 1.2% in the second quarter. Opus Capital Group LLC now owns 3,215 shares of the company’s stock valued at $233,000 after buying an additional 38 shares during the period. Finally, Bremer Trust National Association increased its position in Neenah Paper by 0.7% in the third quarter. Bremer Trust National Association now owns 5,872 shares of the company’s stock valued at $464,000 after buying an additional 40 shares during the period. Institutional investors and hedge funds own 89.95% of the company’s stock.
Neenah Paper Company Profile
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).