In the grand scheme of things, it's hard to determine anything with precision with only a month's worth of data. As an example, last year the Red Sox took off like a bolt of lightning in April, but by June were so far behind the hated New York Yankees that the Sox season was in danger of becoming irrelevant. Of course, we all know how 2004 turned out for the Red Sox.
I'm not bringing this analogy up to torture Yankees fans (OK, maybe just a little) but because Motley Fool Hidden GemNeenah Paper
Listening to the company's earnings call I was struck by two things. First, the frankness with which questions were being answered was great to hear considering that the company doesn't have a great deal of history to lean on. Second, the call briefly touched on the company's ownership of 1 million acres of timberland in Nova Scotia. Now, I think it's a pretty safe bet that timberland in Nova Scotia doesn't fetch the same kind of interest as real estate in Manhattan. This timberland, being in Nova Scotia, is also likely to be less valuable than the timberland that Plum Creek Timber
It's important to note that no specific plans were discussed for this timberland and that this is a paper company, so it does need timberland to actually make paper. That said, there's a fair amount of hidden value sitting on Neenah's balance sheet that's bound to be realized in shape or form in the not too distant future.
Want to read more about the timber and paper industries?
Fool contributor Nathan Parmelee is a die-hard Red Sox fan and owns shares in Neenah Paper.