NWQ Investment Management Company LLC boosted its stake in Neenah Paper, Inc. (NYSE:NP) by 2.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 189,138 shares of the basic materials company’s stock after acquiring an additional 5,038 shares during the period. NWQ Investment Management Company LLC owned 1.12% of Neenah Paper worth $16,181,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Riverhead Capital Management LLC lifted its position in Neenah Paper by 83.1% during the second quarter. Riverhead Capital Management LLC now owns 1,465 shares of the basic materials company’s stock valued at $117,000 after buying an additional 665 shares during the period. Bruderman Asset Management LLC purchased a new position in Neenah Paper during the second quarter valued at $127,000. Pinebridge Investments L.P. lifted its position in Neenah Paper by 0.8% during the second quarter. Pinebridge Investments L.P. now owns 2,211 shares of the basic materials company’s stock valued at $178,000 after buying an additional 18 shares during the period. Everence Capital Management Inc. purchased a new position in Neenah Paper during the second quarter valued at $201,000. Finally, Cambridge Investment Research Advisors Inc. purchased a new position in Neenah Paper during the third quarter valued at $221,000. Institutional investors and hedge funds own 92.89% of the company’s stock.
In other Neenah Paper news, insider John P. O’donnell sold 3,914 shares of the business’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $89.66, for a total value of $350,929.24. Following the completion of the transaction, the insider now owns 80,880 shares of the company’s stock, valued at approximately $7,251,700.80. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Byron Jason Racki sold 1,107 shares of the business’s stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $88.13, for a total value of $97,559.91. Following the completion of the transaction, the insider now directly owns 2,595 shares of the company’s stock, valued at approximately $228,697.35. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,341 shares of company stock valued at $909,160. 2.00% of the stock is owned by insiders.
Neenah Paper, Inc. (NP) traded down $0.35 on Friday, hitting $89.15. The stock had a trading volume of 60,600 shares, compared to its average volume of 78,957. The company has a current ratio of 2.52, a quick ratio of 1.44 and a debt-to-equity ratio of 0.56. The stock has a market cap of $1,505.25, a price-to-earnings ratio of 20.48, a PEG ratio of 4.27 and a beta of 1.27. Neenah Paper, Inc. has a 12-month low of $72.35 and a 12-month high of $90.75.
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, topping the consensus estimate of $1.01 by $0.01. The firm had revenue of $245.10 million during the quarter, compared to analyst estimates of $240.60 million. Neenah Paper had a return on equity of 20.48% and a net margin of 8.13%. Neenah Paper’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.99 EPS. equities analysts anticipate that Neenah Paper, Inc. will post 4.19 EPS for the current fiscal year.
Neenah Paper declared that its Board of Directors has authorized a share buyback program on Wednesday, November 29th that allows the company to repurchase $25.00 million in shares. This repurchase authorization allows the basic materials company to reacquire shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s board believes its shares are undervalued.
The business also recently declared a quarterly dividend, which was paid on Monday, December 4th. Stockholders of record on Friday, November 17th were given a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 1.66%. The ex-dividend date of this dividend was Thursday, November 16th. Neenah Paper’s dividend payout ratio is presently 32.60%.
Several brokerages have commented on NP. DA Davidson reissued a “neutral” rating on shares of Neenah Paper in a research report on Thursday, November 9th. BidaskClub raised Neenah Paper from a “strong sell” rating to a “sell” rating in a research report on Tuesday, August 15th.
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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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