DA Davidson Downgrades Neenah Paper to Neutral

Brokerage firm DA Davidson Downgrades its rating on Neenah Paper(NYSE:NP). The shares have been rated Neutral. Previously, the analysts had a Buy rating on the shares. The rating by DA Davidson was issued on Aug 5, 2016.

Neenah Paper (NP) made into the market gainers list on Wednesdays trading session with the shares advancing 1.41% or 1.05 points. Due to strong positive momentum, the stock ended at $75.52, which is also near the day’s high of $75.6699. The stock began the session at $74.38 and the volume stood at 1,24,227 shares. The 52-week high of the shares is $78.98 and the 52 week low is $52.7. The company has a current market capitalization of $1,267 M and it has 1,67,80,000 shares in outstanding.

Neenah Paper(NP) last announced its earnings results on Aug 3, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $246.00M. Analysts had an estimated revenue of $250.55M. Earnings per share were $1.26. Analysts had estimated an EPS of $1.14.

Several Insider Transactions has been reported to the SEC. On Jun 10, 2016, Larry Newton Brownlee (VP & Controller) sold 714 shares at $73.11 per share price.Also, On Jun 9, 2016, Timothy S Lucas (director) sold 1,493 shares at $71.09 per share price.On Jun 8, 2016, Bonnie Cruickshank Lind (SVP, CFO & Treasurer) sold 4,348 shares at $70.88 per share price, according to the Form-4 filing with the securities and exchange commission.

Neenah Paper Inc. (Neenah) has two primary businesses: technical products business and fine paper and packaging business. The Company’s technical products business is engaged in the production of filter media for transportation water and other markets and saturated and coated substrates for industrial products backings and a variety of other end markets. The technical products brands include JET-PRO SofStretch KIMDURA MUNISING LP PREVAIL NEENAH GESSNER and varieties. The Company’s fine paper and packaging business supplies printing packaging and other specialty papers in North America. The fine paper and packaging brands include CLASSIC ENVIRONMENT CAPITOL BOND ROYAL SUNDANCE SOUTHWORTH CLASSIC CREST ESSE ASTROBRIGHTS and EXACT BRIGHTS. In addition the Company also operates other segment which includes the Index Tag and Vellum Bristol product lines.

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