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

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

Neo Performance Materials Stock Down 4.3%

NEO stock opened at C$35.15 on Wednesday. The company’s 50 day moving average price is C$37.01 and its 200 day moving average price is C$29.54. The company has a debt-to-equity ratio of 34.03, a quick ratio of 1.92 and a current ratio of 2.06. Neo Performance Materials Inc. has a fifty-two week low of C$15.31 and a fifty-two week high of C$47.19. The firm has a market capitalization of C$1.62 billion, a price-to-earnings ratio of 3,515.00 and a beta of 1.44.

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

Neo Performance Materials Announces Dividend

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

Wall Street Analyst Weigh In

Several brokerages have issued reports on NEO. Stifel Nicolaus raised their price objective on Neo Performance Materials from C$49.00 to C$55.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. BMO Capital Markets boosted their price objective on shares of Neo Performance Materials from C$43.00 to C$60.00 in a research note on Monday, July 13th. Finally, ATB Cormark Capital Markets boosted their target price on Neo Performance Materials from C$43.00 to C$53.50 and gave the stock an “outperform” rating in a research report on Friday, July 10th. Four 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 target price 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.