Comerica Bank increased its position in shares of Neenah Paper, Inc. (NYSE:NP) by 5.6% during the fourth quarter, Holdings Channel reports. The firm owned 18,011 shares of the company’s stock after buying an additional 956 shares during the period. Comerica Bank’s holdings in Neenah Paper were worth $1,490,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bank of Montreal Can raised its position in Neenah Paper by 0.4% in the third quarter. Bank of Montreal Can now owns 1,558 shares of the company’s stock worth $124,000 after buying an additional 6 shares during the period. Creative Planning raised its position in Neenah Paper by 15.5% in the third quarter. Creative Planning now owns 1,950 shares of the company’s stock worth $154,000 after buying an additional 261 shares during the period. Advisor Group Inc. raised its position in Neenah Paper by 85.5% in the third quarter. Advisor Group Inc. now owns 2,018 shares of the company’s stock worth $155,000 after buying an additional 930 shares during the period. Bruderman Asset Management LLC raised its position in Neenah Paper by 0.4% in the third quarter. Bruderman Asset Management LLC now owns 2,217 shares of the company’s stock worth $175,000 after buying an additional 8 shares during the period. Finally, Beck Mack & Oliver LLC bought a new position in Neenah Paper during the third quarter worth $210,000. 90.67% of the stock is owned by institutional investors.
Neenah Paper, Inc. (NYSE:NP) opened at 76.35 on Tuesday. The company’s 50-day moving average price is $77.77 and its 200-day moving average price is $81.11. The company has a market cap of $1.28 billion, a price-to-earnings ratio of 18.02 and a beta of 1.48. Neenah Paper, Inc. has a 52-week low of $60.92 and a 52-week high of $90.22.
Neenah Paper (NYSE:NP) last released its earnings results on Wednesday, February 15th. The company reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.32. The firm had revenue of $220.50 million for the quarter, compared to analysts’ expectations of $231.85 million. Neenah Paper had a return on equity of 22.20% and a net margin of 7.12%. Equities research analysts expect that Neenah Paper, Inc. will post $4.40 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 2nd. Stockholders of record on Friday, February 17th were paid a dividend of $0.37 per share. This is a boost from Neenah Paper’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Wednesday, February 15th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.94%. Neenah Paper’s dividend payout ratio is currently 33.42%.
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Separately, Zacks Investment Research raised Neenah Paper from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 22nd.
In other news, SVP Steven S. Heinrichs sold 6,010 shares of the company’s stock in a transaction that occurred on Monday, February 27th. The stock was sold at an average price of $75.62, for a total transaction of $454,476.20. Following the transaction, the senior vice president now owns 16,293 shares of the company’s stock, valued at $1,232,076.66. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider John P. O’donnell sold 24,162 shares of the company’s stock in a transaction that occurred on Monday, January 9th. The shares were sold at an average price of $85.81, for a total value of $2,073,341.22. Following the transaction, the insider now directly owns 18,933 shares in the company, valued at approximately $1,624,640.73. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 122,151 shares of company stock worth $10,331,236. Insiders own 2.00% of the company’s stock.
Neenah Paper Company Profile
Neenah Paper, Inc has two principal operations, technical products business, and fine paper and packaging business. The Company’s segments consist of Technical Products, Fine Paper and Packaging, and Other. The technical products business is an international producer of fiber-formed, coated and/or saturated specialized media, which includes filtration media (Filtration), tape and abrasives backings products (Backings), and durable label and specialty substrate products (Specialty).
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