State Street Corp increased its stake in Neenah Paper, Inc. (NYSE:NP) by 8.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 391,806 shares of the basic materials company’s stock after buying an additional 30,825 shares during the period. State Street Corp owned 2.34% of Neenah Paper worth $33,385,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Bank of New York Mellon Corp boosted its stake in shares of Neenah Paper by 3.6% in the third quarter. Bank of New York Mellon Corp now owns 259,179 shares of the basic materials company’s stock valued at $20,479,000 after buying an additional 8,949 shares during the period. Aperio Group LLC boosted its stake in shares of Neenah Paper by 4.9% in the third quarter. Aperio Group LLC now owns 13,996 shares of the basic materials company’s stock valued at $1,106,000 after buying an additional 654 shares during the period. Capital One National Association boosted its stake in shares of Neenah Paper by 2.2% in the third quarter. Capital One National Association now owns 6,678 shares of the basic materials company’s stock valued at $528,000 after buying an additional 142 shares during the period. Beck Mack & Oliver LLC purchased a new stake in shares of Neenah Paper during the third quarter valued at $210,000. Finally, Sawgrass Asset Management LLC boosted its stake in shares of Neenah Paper by 512.5% in the third quarter. Sawgrass Asset Management LLC now owns 18,190 shares of the basic materials company’s stock valued at $1,437,000 after buying an additional 15,220 shares during the period. 90.67% of the stock is currently owned by institutional investors and hedge funds.
Shares of Neenah Paper, Inc. (NYSE:NP) traded up 0.40% during trading on Friday, hitting $75.90. 67,692 shares of the stock were exchanged. Neenah Paper, Inc. has a one year low of $62.11 and a one year high of $90.23. The stock has a market cap of $1.28 billion, a PE ratio of 17.91 and a beta of 1.48. The stock’s 50 day moving average price is $75.00 and its 200 day moving average price is $80.39.
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Separately, Zacks Investment Research raised shares of Neenah Paper from a “strong sell” rating to a “hold” rating in a report on Wednesday, January 11th.
In related news, Director Sean T. Erwin sold 3,000 shares of Neenah Paper stock in a transaction on Tuesday, February 21st. The stock was sold at an average price of $76.28, for a total transaction of $228,840.00. Following the completion of the sale, the director now directly owns 19,817 shares of the company’s stock, valued at $1,511,640.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Steven S. Heinrichs sold 6,010 shares of Neenah Paper stock in a transaction on Monday, February 27th. The stock was sold at an average price of $75.62, for a total value of $454,476.20. Following the sale, the senior vice president now directly owns 16,293 shares of the company’s stock, valued at $1,232,076.66. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.
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.
