Rahim Suleman Purchases 2,800 Shares of Neo Performance Materials (TSE:NEO) Stock

Neo Performance Materials Inc. (TSE:NEO) Director Rahim Suleman bought 2,800 shares of the business’s stock in a transaction dated Thursday, August 13th. The stock was bought at an average cost of C$36.38 per share, for a total transaction of C$101,864.00. Following the completion of the purchase, the director owned 481,997 shares of the company’s stock, valued at approximately C$17,535,050.86. The trade was a 0.58% increase in their position.

Neo Performance Materials Stock Down 0.1%

Shares of NEO traded down C$0.03 during trading hours on Monday, hitting C$36.54. The company had a trading volume of 144,302 shares, compared to its average volume of 290,943. The firm has a fifty day moving average price of C$36.83 and a 200-day moving average price of C$29.31. The company has a debt-to-equity ratio of 34.03, a quick ratio of 1.92 and a current ratio of 2.06. The stock has a market capitalization of C$1.68 billion, a price-to-earnings ratio of 3,654.00 and a beta of 1.44. Neo Performance Materials Inc. has a 52-week low of C$15.31 and a 52-week high of C$47.19.

Neo Performance Materials (TSE:NEO) last announced its quarterly earnings data on Tuesday, August 11th. The company reported C$0.73 EPS for the quarter. The company had revenue of C$292.32 million for the quarter. Neo Performance Materials had a net margin of 0.15% and a return on equity of 0.21%. On average, equities research analysts forecast that Neo Performance Materials Inc. will post 0.6753356 EPS for the current fiscal year.

Neo Performance Materials Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 29th. Investors of record on Monday, June 29th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, June 19th. This represents a $0.40 annualized dividend and a dividend yield of 1.1%. Neo Performance Materials’s dividend payout ratio (DPR) is 2,870.19%.

Analyst Ratings Changes

NEO has been the topic of several recent analyst reports. ATB Cormark Capital Markets increased their target price on Neo Performance Materials from C$43.00 to C$53.50 and gave the company an “outperform” rating in a research note on Friday, July 10th. BMO Capital Markets boosted their price target on Neo Performance Materials from C$43.00 to C$60.00 in a research note on Monday, July 13th. Finally, Stifel Nicolaus upped their price target on Neo Performance Materials from C$49.00 to C$55.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Four equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of C$56.17.

Neo Performance Materials Company Profile

Neo manufactures the building blocks of many modern technologies that enhance efficiency and sustainability. Neo’s advanced industrial materials – magnetic powders, rare earth magnets, magnetic assemblies, specialty chemicals, metals, and alloys – are critical to the performance of many everyday products and emerging technologies. Neo’s products fast-forward technologies for the net-zero transition. The business of Neo is organized along three segments: Magnequench, Chemicals & Oxides and Rare Metals.