First Trust Advisors LP cut its stake in Neenah Paper, Inc. (NYSE:NP) by 6.0% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 45,545 shares of the basic materials company’s stock after selling 2,894 shares during the quarter. First Trust Advisors LP owned about 0.27% of Neenah Paper worth $3,896,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Nationwide Fund Advisors grew its position in Neenah Paper by 4.8% during the third quarter. Nationwide Fund Advisors now owns 20,873 shares of the basic materials company’s stock worth $1,786,000 after buying an additional 965 shares in the last quarter. Shell Asset Management Co. purchased a new position in Neenah Paper during the third quarter worth about $3,020,000. Public Employees Retirement System of Ohio grew its position in Neenah Paper by 2,688.7% during the second quarter. Public Employees Retirement System of Ohio now owns 24,234 shares of the basic materials company’s stock worth $1,945,000 after buying an additional 23,365 shares in the last quarter. Piedmont Investment Advisors LLC purchased a new position in Neenah Paper during the second quarter worth about $291,000. Finally, The Manufacturers Life Insurance Company grew its position in Neenah Paper by 1.1% during the second quarter. The Manufacturers Life Insurance Company now owns 13,092 shares of the basic materials company’s stock worth $1,051,000 after buying an additional 148 shares in the last quarter. Institutional investors own 89.59% of the company’s stock.
In other Neenah Paper news, SVP Julie Schertell sold 2,000 shares of Neenah Paper stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $76.71, for a total transaction of $153,420.00. Following the completion of the sale, the senior vice president now owns 3,789 shares of the company’s stock, valued at $290,654.19. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Matthew L. Duncan sold 1,107 shares of Neenah Paper stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $79.00, for a total value of $87,453.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,620 shares of company stock valued at $539,745. Corporate insiders own 2.00% of the company’s stock.
Neenah Paper (NYSE:NP) last posted its earnings results on Tuesday, November 7th. The basic materials company reported $1.02 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.01. Neenah Paper had a return on equity of 20.48% and a net margin of 8.13%. The business had revenue of $245.10 million during the quarter, compared to analysts’ expectations of $240.60 million. During the same period in the previous year, the business earned $0.99 earnings per share. The firm’s revenue was up 5.2% on a year-over-year basis. equities research analysts predict that Neenah Paper, Inc. will post 4.19 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 4th. Investors of record on Friday, November 17th will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.68%. The ex-dividend date is Thursday, November 16th. Neenah Paper’s payout ratio is 32.60%.
Several research firms recently commented on NP. DA Davidson restated a “neutral” rating on shares of Neenah Paper in a research report on Thursday, November 9th. BidaskClub upgraded Neenah Paper from a “strong sell” rating to a “sell” rating in a research report on Tuesday, August 15th. Finally, Zacks Investment Research cut Neenah Paper from a “hold” rating to a “sell” rating in a research report on Wednesday, August 9th.
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Neenah Paper 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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