Fruth Investment Management Lowers stake in Neenah Paper (NP)

Neenah Paper (NP) : Fruth Investment Management reduced its stake in Neenah Paper by 2.6% during the most recent quarter end. The investment management company now holds a total of 22,500 shares of Neenah Paper which is valued at $1,786,500 after selling 600 shares in Neenah Paper , the firm said in a disclosure report filed with the SEC on Oct 12, 2016.Neenah Paper makes up approximately 0.90% of Fruth Investment Management’s portfolio.

Other Hedge Funds, Including , Naples Global Advisors reduced its stake in NP by selling 50 shares or 1.2% in the most recent quarter. The Hedge Fund company now holds 4,120 shares of NP which is valued at $330,465. Neenah Paper makes up approx 0.13% of Naples Global Advisors’s portfolio.Simplex Trading reduced its stake in NP by selling 414 shares or 49.76% in the most recent quarter. The Hedge Fund company now holds 418 shares of NP which is valued at $33,189.First Mercantile Trust Co reduced its stake in NP by selling 460 shares or 18.85% in the most recent quarter. The Hedge Fund company now holds 1,980 shares of NP which is valued at $157,212. Neenah Paper makes up approx 0.02% of First Mercantile Trust Co’s portfolio.Bnp Paribas Arbitrage Sa reduced its stake in NP by selling 2,923 shares or 51.54% in the most recent quarter. The Hedge Fund company now holds 2,748 shares of NP which is valued at $217,010.

Neenah Paper closed down -0.81 points or -1.01% at $79.4 with 67,757 shares getting traded on Tuesday. Post opening the session at $79.98, the shares hit an intraday low of $79.17 and an intraday high of $80.22 and the price fluctuated in this range throughout the day.Shares ended Tuesday 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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