Trustmark National Bank Trust Department lowered its stake in shares of Neenah Paper, Inc. (NYSE:NP) by 21.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,725 shares of the basic materials company’s stock after selling 742 shares during the period. Trustmark National Bank Trust Department’s holdings in Neenah Paper were worth $203,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Teachers Advisors LLC raised its stake in Neenah Paper by 7.3% in the first quarter. Teachers Advisors LLC now owns 29,132 shares of the basic materials company’s stock worth $2,176,000 after buying an additional 1,984 shares in the last quarter. Wellington Management Group LLP purchased a new position in shares of Neenah Paper during the first quarter worth approximately $38,985,000. Principal Financial Group Inc. increased its position in shares of Neenah Paper by 6.8% in the first quarter. Principal Financial Group Inc. now owns 141,129 shares of the basic materials company’s stock worth $10,542,000 after buying an additional 8,989 shares during the last quarter. OppenheimerFunds Inc. increased its position in shares of Neenah Paper by 40.1% in the first quarter. OppenheimerFunds Inc. now owns 9,608 shares of the basic materials company’s stock worth $718,000 after buying an additional 2,748 shares during the last quarter. Finally, United Services Automobile Association purchased a new position in shares of Neenah Paper during the first quarter worth approximately $4,954,000. 89.25% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Neenah Paper, Inc. (NP) traded down 0.99% on Tuesday, reaching $79.85. 15,903 shares of the company’s stock were exchanged. Neenah Paper, Inc. has a 1-year low of $68.18 and a 1-year high of $90.22. The stock’s 50-day moving average price is $77.93 and its 200-day moving average price is $79.50. The company has a market capitalization of $1.34 billion, a P/E ratio of 19.21 and a beta of 1.28.
Neenah Paper (NYSE:NP) last issued its earnings results on Wednesday, May 10th. The basic materials company reported $1.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.11 by $0.08. The business had revenue of $242.10 million during the quarter, compared to the consensus estimate of $243.35 million. Neenah Paper had a net margin of 7.51% and a return on equity of 21.77%. The firm’s revenue for the quarter was up .0% compared to the same quarter last year. During the same period last year, the business posted $1.15 EPS. Analysts anticipate that Neenah Paper, Inc. will post $4.04 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, June 2nd. Shareholders of record on Friday, May 12th were issued a dividend of $0.37 per share. The ex-dividend date was Wednesday, May 10th. This represents a $1.48 annualized dividend and a yield of 1.84%. Neenah Paper’s dividend payout ratio (DPR) is currently 35.92%.
Several research firms have issued reports on NP. Zacks Investment Research downgraded shares of Neenah Paper from a “hold” rating to a “sell” rating in a research note on Tuesday, May 16th. ValuEngine cut shares of Neenah Paper from a “buy” rating to a “hold” rating in a report on Saturday, May 27th.
In related news, SVP Julie Schertell sold 1,219 shares of the firm’s stock in a transaction on Monday, June 12th. The shares were sold at an average price of $80.65, for a total value of $98,312.35. Following the completion of the transaction, the senior vice president now directly owns 4,611 shares of the company’s stock, valued at $371,877.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Larry Newton Brownlee sold 1,450 shares of Neenah Paper stock in a transaction on Monday, June 5th. The stock was sold at an average price of $79.77, for a total transaction of $115,666.50. Following the transaction, the vice president now directly owns 2,912 shares of the company’s stock, valued at $232,290.24. The disclosure for this sale can be found here. Insiders have sold a total of 5,079 shares of company stock worth $407,565 over the last 90 days. 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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