Zacks Investment Research downgraded shares of Neenah Paper (NYSE:NP) from a buy rating to a hold rating in a report issued on Saturday morning.

According to Zacks, “Neenah is a leading global specialty materials company, focused on premium niche markets that include advanced filtration media, specialized substrates used for tapes, labels and other products, and premium printing and packaging papers. The company is headquartered in Alpharetta, Georgia and its products are sold in over 70 countries worldwide from manufacturing operations in the United States and Germany. “

Separately, DA Davidson reaffirmed a neutral rating on shares of Neenah Paper in a report on Thursday, November 9th.

Neenah Paper (NYSE NP) traded down $0.25 during mid-day trading on Friday, reaching $92.80. The company had a trading volume of 49,981 shares, compared to its average volume of 72,268. Neenah Paper has a 12-month low of $72.35 and a 12-month high of $93.45. The firm has a market cap of $1,560.00, a PE ratio of 20.40, a price-to-earnings-growth ratio of 3.89 and a beta of 1.27. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.52 and a quick ratio of 1.44.

Neenah Paper (NYSE:NP) last released its quarterly earnings results on Tuesday, November 7th. The basic materials company reported $1.02 earnings per share for the quarter, beating the Zacks’ 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 firm had revenue of $245.10 million during the quarter, compared to analysts’ expectations of $240.60 million. During the same period last year, the firm posted $0.99 EPS. The business’s revenue was up 5.2% on a year-over-year basis. equities research analysts forecast that Neenah Paper will post 4.19 earnings per share for the current year.

Neenah Paper declared that its Board of Directors has approved a share buyback plan on Wednesday, November 29th that permits the company to repurchase $25.00 million in outstanding shares. This repurchase authorization permits the basic materials company to purchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

In other Neenah Paper news, insider John P. O’donnell sold 5,424 shares of the stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $91.50, for a total value of $496,296.00. Following the transaction, the insider now directly owns 82,390 shares in the company, valued at approximately $7,538,685. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Timothy S. Lucas sold 2,000 shares of the stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $87.90, for a total value of $175,800.00. Following the completion of the transaction, the director now owns 15,693 shares in the company, valued at $1,379,414.70. The disclosure for this sale can be found here. Insiders sold a total of 14,710 shares of company stock worth $1,322,514 over the last quarter. Corporate insiders own 2.00% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in NP. Schwab Charles Investment Management Inc. boosted its position in Neenah Paper by 7.1% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 96,245 shares of the basic materials company’s stock valued at $7,724,000 after buying an additional 6,389 shares during the last quarter. Legal & General Group Plc boosted its position in Neenah Paper by 14.9% in the 2nd quarter. Legal & General Group Plc now owns 31,906 shares of the basic materials company’s stock valued at $2,559,000 after buying an additional 4,135 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. boosted its position in Neenah Paper by 0.4% in the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 27,018 shares of the basic materials company’s stock valued at $2,168,000 after buying an additional 100 shares during the last quarter. Riverhead Capital Management LLC boosted its position in Neenah Paper by 83.1% in the 2nd quarter. Riverhead Capital Management LLC now owns 1,465 shares of the basic materials company’s stock valued at $117,000 after buying an additional 665 shares during the last quarter. Finally, Teachers Advisors LLC boosted its position in Neenah Paper by 2.8% in the 2nd quarter. Teachers Advisors LLC now owns 29,941 shares of the basic materials company’s stock valued at $2,403,000 after buying an additional 809 shares during the last quarter. Hedge funds and other institutional investors own 89.82% of the company’s stock.

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Neenah Paper Company Profile

Neenah, Inc, formerly Neenah Paper, Inc, is a materials company focused in niche markets. The Company has two primary businesses: technical products, and fine paper and packaging. The technical products business is an international producer of transportation, water and other filtration media, digital transfer materials, tape and abrasive backings, labels and other performance-oriented substrates.

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