Neenah Paper, Inc. (NYSE:NP) insider John P. O’donnell sold 5,424 shares of the company’s stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $91.50, for a total value of $496,296.00. Following the completion of the transaction, the insider now directly owns 82,390 shares in the company, valued at $7,538,685. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.
Neenah Paper, Inc. (NP) traded down $0.20 during midday trading on Tuesday, hitting $92.25. The company had a trading volume of 77,400 shares, compared to its average volume of 79,496. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.44 and a current ratio of 2.52. Neenah Paper, Inc. has a 52-week low of $72.35 and a 52-week high of $93.10. The firm has a market cap of $1,551.50, a P/E ratio of 20.32, a price-to-earnings-growth ratio of 4.40 and a beta of 1.27.
Neenah Paper (NYSE:NP) last released its earnings results on Tuesday, November 7th. The basic materials company reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.01. The firm had revenue of $245.10 million for the quarter, compared to the consensus estimate of $240.60 million. Neenah Paper had a return on equity of 20.48% and a net margin of 8.13%. The firm’s revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.99 EPS. sell-side analysts predict that Neenah Paper, Inc. will post 4.19 earnings per share for the current year.
Neenah Paper announced that its Board of Directors has authorized a stock repurchase program on Wednesday, November 29th that authorizes the company to buyback $25.00 million in outstanding shares. This buyback authorization authorizes the basic materials company to repurchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.
A number of institutional investors and hedge funds have recently made changes to their positions in NP. Riverhead Capital Management LLC boosted its stake in shares of Neenah Paper by 83.1% during the 2nd quarter. Riverhead Capital Management LLC now owns 1,465 shares of the basic materials company’s stock worth $117,000 after acquiring an additional 665 shares in the last quarter. Bruderman Asset Management LLC purchased a new stake in shares of Neenah Paper during the 2nd quarter worth about $127,000. Pinebridge Investments L.P. boosted its stake in shares of Neenah Paper by 0.8% during the 2nd quarter. Pinebridge Investments L.P. now owns 2,211 shares of the basic materials company’s stock worth $178,000 after acquiring an additional 18 shares in the last quarter. Magnetar Financial LLC purchased a new stake in shares of Neenah Paper during the 3rd quarter worth about $205,000. Finally, Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Neenah Paper during the 3rd quarter worth about $221,000. 89.82% of the stock is currently owned by institutional investors.
Separately, DA Davidson reissued a “neutral” rating on shares of Neenah Paper in a research report on Thursday, November 9th.
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About Neenah Paper
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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