Baskin Financial Services Lowers stake in Neenah Paper (NP)

Neenah Paper (NP) : Baskin Financial Services reduced its stake in Neenah Paper by 0.1% during the most recent quarter end. The investment management company now holds a total of 101,688 shares of Neenah Paper which is valued at $7,732,356 after selling 100 shares in Neenah Paper , the firm said in a disclosure report filed with the SEC on Aug 3, 2016.Neenah Paper makes up approximately 2.10% of Baskin Financial Services’s portfolio.

Other Hedge Funds, Including , Sawgrass Asset Management added NP to its portfolio by purchasing 2,970 company shares during the most recent quarter which is valued at $225,839. Neenah Paper makes up approx 0.01% of Sawgrass Asset Management’s portfolio.Boston Advisors reduced its stake in NP by selling 170 shares or 0.23% in the most recent quarter. The Hedge Fund company now holds 73,008 shares of NP which is valued at $5,536,197. Neenah Paper makes up approx 0.13% of Boston Advisors’s portfolio.First Manhattan Co reduced its stake in NP by selling 658 shares or 0.5% in the most recent quarter. The Hedge Fund company now holds 130,220 shares of NP which is valued at $9,913,649. Neenah Paper makes up approx 0.06% of First Manhattan Co’s portfolio.Naples Global Advisors reduced its stake in NP by selling 400 shares or 8.75% in the most recent quarter. The Hedge Fund company now holds 4,170 shares of NP which is valued at $313,000. Neenah Paper makes up approx 0.13% of Naples Global Advisors’s portfolio.

Neenah Paper closed down -0.02 points or -0.03% at $75.47 with 59,459 shares getting traded on Monday. Post opening the session at $75.2, the shares hit an intraday low of $74.91 and an intraday high of $76.128 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Neenah Paper reported $1.26 EPS for the quarter, beating the analyst consensus estimate by $ 0.12 according to the earnings call on Aug 3, 2016. Analyst had a consensus of $1.14. The company had revenue of $246.00 million for the quarter, compared to analysts expectations of $250.55 million. The company’s revenue was up 16.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.97 EPS.

Many Wall Street Analysts have commented on Neenah Paper.

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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