Creative Planning boosted its stake in Neenah Paper, Inc. (NYSE:NP) by 92.3% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 3,576 shares of the basic materials company’s stock after buying an additional 1,716 shares during the period. Creative Planning’s holdings in Neenah Paper were worth $287,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Macquarie Group Ltd. boosted its position in Neenah Paper by 7.5% in the fourth quarter. Macquarie Group Ltd. now owns 379,499 shares of the basic materials company’s stock valued at $32,333,000 after buying an additional 26,395 shares during the last quarter. Renaissance Technologies LLC boosted its position in Neenah Paper by 465.9% in the fourth quarter. Renaissance Technologies LLC now owns 51,500 shares of the basic materials company’s stock valued at $4,388,000 after buying an additional 42,400 shares during the last quarter. Nationwide Fund Advisors boosted its position in Neenah Paper by 3.4% in the first quarter. Nationwide Fund Advisors now owns 20,413 shares of the basic materials company’s stock valued at $1,525,000 after buying an additional 669 shares during the last quarter. Prudential Financial Inc. boosted its position in Neenah Paper by 9.0% in the first quarter. Prudential Financial Inc. now owns 49,930 shares of the basic materials company’s stock valued at $3,730,000 after buying an additional 4,130 shares during the last quarter. Finally, First Manhattan Co. boosted its position in Neenah Paper by 22.3% in the first quarter. First Manhattan Co. now owns 75,450 shares of the basic materials company’s stock valued at $5,961,000 after buying an additional 13,775 shares during the last quarter. 91.43% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Neenah Paper, Inc. (NYSE:NP) traded down 1.171% on Friday, reaching $78.075. 15,649 shares of the company traded hands. 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 $1.31 billion, a P/E ratio of 17.785 and a beta of 1.30. The stock has a 50-day moving average price of $79.68 and a 200 day moving average price of $78.09.
Neenah Paper (NYSE:NP) last announced its quarterly earnings results on Wednesday, August 2nd. The basic materials company reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.14. The company had revenue of $248.70 million for the quarter, compared to the consensus estimate of $250.88 million. Neenah Paper had a net margin of 7.51% and a return on equity of 21.77%. Neenah Paper’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.26 EPS. Analysts anticipate that Neenah Paper, Inc. will post $4.06 EPS for the current fiscal year.
Neenah Paper announced that its board has authorized a share repurchase program on Thursday, May 25th that allows the company to repurchase $25.00 million in outstanding shares. This repurchase authorization allows the basic materials company to repurchase up to 2% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.
The business 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. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $1.48 dividend on an annualized basis and a yield of 1.87%. Neenah Paper’s dividend payout ratio is currently 35.92%.
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Several research analysts have recently weighed in on NP shares. BidaskClub raised shares of Neenah Paper from a “strong sell” rating to a “sell” rating in a report on Monday. Zacks Investment Research raised 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 report on Saturday, May 27th.
In other news, SVP James R. Piedmonte sold 414 shares of the business’s stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $81.50, for a total value of $33,741.00. Following the sale, the senior vice president now directly owns 2,850 shares in the company, valued at approximately $232,275. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Bonnie Cruickshank Lind sold 1,500 shares of the business’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $81.00, for a total transaction of $121,500.00. Following the completion of the sale, the chief financial officer now owns 2,519 shares in the company, valued at $204,039. The disclosure for this sale can be found here. Over the last quarter, insiders sold 8,862 shares of company stock worth $712,879. 2.00% of the stock is currently owned by insiders.
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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