Dimensional Fund Advisors LP increased its stake in shares of Neenah Paper, Inc. (NYSE:NP) by 1.6% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 704,650 shares of the basic materials company’s stock after buying an additional 11,228 shares during the period. Dimensional Fund Advisors LP owned about 4.19% of Neenah Paper worth $52,637,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in NP. Ameritas Investment Partners Inc. acquired a new stake in shares of Neenah Paper during the first quarter worth approximately $107,000. Elkfork Partners LLC boosted its stake in shares of Neenah Paper by 17.5% in the first quarter. Elkfork Partners LLC now owns 1,598 shares of the basic materials company’s stock worth $119,000 after buying an additional 238 shares during the period. Bank of Montreal Can boosted its stake in shares of Neenah Paper by 17.3% in the first quarter. Bank of Montreal Can now owns 1,808 shares of the basic materials company’s stock worth $135,000 after buying an additional 267 shares during the period. State of Alaska Department of Revenue boosted its stake in shares of Neenah Paper by 1.6% in the first quarter. State of Alaska Department of Revenue now owns 1,850 shares of the basic materials company’s stock worth $138,000 after buying an additional 30 shares during the period. Finally, First Bank & Trust boosted its stake in shares of Neenah Paper by 9.9% in the first quarter. First Bank & Trust now owns 3,713 shares of the basic materials company’s stock worth $277,000 after buying an additional 335 shares during the period. Institutional investors and hedge funds own 92.16% of the company’s stock.
Shares of Neenah Paper, Inc. (NP) traded up 0.59% during trading on Tuesday, reaching $77.15. 90,959 shares of the company were exchanged. Neenah Paper, Inc. has a 1-year low of $72.35 and a 1-year high of $90.23. The firm has a market capitalization of $1.30 billion, a P/E ratio of 17.57 and a beta of 1.30. The firm’s 50 day moving average is $79.60 and its 200 day moving average is $78.11.
Neenah Paper (NYSE:NP) last issued its quarterly earnings results on Wednesday, August 2nd. The basic materials company reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.14. The business had revenue of $248.70 million during the quarter, compared to the consensus estimate of $250.88 million. Neenah Paper had a return on equity of 21.03% and a net margin of 7.99%. The company’s quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter last year, the company earned $1.26 earnings per share. On average, equities analysts anticipate that Neenah Paper, Inc. will post $4.18 EPS for the current fiscal year.
Neenah Paper declared that its Board of Directors has initiated a stock repurchase program on Thursday, May 25th that permits the company to repurchase $25.00 million in shares. This repurchase authorization permits the basic materials company to repurchase up to 2% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 5th. Shareholders of record on Friday, August 18th will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.92%. The ex-dividend date of this dividend is Wednesday, August 16th. Neenah Paper’s dividend payout ratio is presently 33.71%.
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A number of analysts have recently commented on the stock. BidaskClub upgraded shares of Neenah Paper from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. Zacks Investment Research upgraded shares of Neenah Paper from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 12th. Finally, ValuEngine cut shares of Neenah Paper from a “buy” rating to a “hold” rating in a research note on Saturday, May 27th.
In other Neenah Paper news, SVP Julie Schertell sold 1,219 shares of the firm’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $80.65, for a total value of $98,312.35. Following the completion of the sale, the senior vice president now owns 4,611 shares of the company’s stock, valued at $371,877.15. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Bonnie Cruickshank Lind sold 1,500 shares of the firm’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $81.00, for a total value of $121,500.00. Following the completion of the sale, the chief financial officer now directly owns 2,519 shares of the company’s stock, valued at approximately $204,039. The disclosure for this sale can be found here. In the last three months, insiders sold 10,809 shares of company stock valued at $873,204. Corporate insiders own 2.00% of the company’s stock.
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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