Alliancebernstein L.P. cut its stake in Neenah Paper, Inc. (NYSE:NP) by 7.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 23,196 shares of the basic materials company’s stock after selling 1,900 shares during the period. Alliancebernstein L.P. owned approximately 0.14% of Neenah Paper worth $1,861,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of NP. Ameritas Investment Partners Inc. purchased a new stake in Neenah Paper in the 1st quarter worth approximately $107,000. Everence Capital Management Inc. purchased a new stake in Neenah Paper in the 2nd quarter worth approximately $201,000. Beck Mack & Oliver LLC purchased a new stake in Neenah Paper in the 2nd quarter worth approximately $213,000. Paloma Partners Management Co purchased a new stake in Neenah Paper in the 1st quarter worth approximately $236,000. Finally, State of Alaska Department of Revenue grew its stake in Neenah Paper by 79.2% in the 2nd quarter. State of Alaska Department of Revenue now owns 3,315 shares of the basic materials company’s stock worth $266,000 after acquiring an additional 1,465 shares during the period. 89.01% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have weighed in on NP shares. Zacks Investment Research upgraded shares of Neenah Paper from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 12th. BidaskClub lowered shares of Neenah Paper from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 9th.
Shares of Neenah Paper, Inc. (NP) opened at 86.45 on Friday. The stock has a 50 day moving average of $83.79 and a 200 day moving average of $79.57. Neenah Paper, Inc. has a 52-week low of $72.35 and a 52-week high of $90.23. The company has a market cap of $1.45 billion, a P/E ratio of 19.69 and a beta of 1.32.
Neenah Paper (NYSE:NP) last released its quarterly earnings data on Wednesday, August 2nd. The basic materials company reported $1.22 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.14. Neenah Paper had a net margin of 7.99% and a return on equity of 21.03%. The firm had revenue of $248.70 million for the quarter, compared to the consensus estimate of $250.88 million. During the same period in the previous year, the company earned $1.26 earnings per share. The company’s quarterly revenue was up 1.1% on a year-over-year basis. On average, equities analysts anticipate that Neenah Paper, Inc. will post $4.18 earnings per share for the current fiscal year.
In other news, SVP James R. Piedmonte sold 447 shares of the business’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $83.50, for a total value of $37,324.50. Following the completion of the sale, the senior vice president now owns 2,883 shares of the company’s stock, valued at $240,730.50. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Bonnie Cruickshank Lind sold 1,500 shares of the business’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $82.00, for a total transaction of $123,000.00. Following the completion of the sale, the chief financial officer now directly owns 25,574 shares of the company’s stock, valued at approximately $2,097,068. The disclosure for this sale can be found here. Over the last quarter, insiders sold 8,109 shares of company stock worth $659,940. Corporate insiders own 2.00% of the company’s stock.
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Neenah Paper 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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