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

Key Points

• Director Rahim Suleman purchased 2,800 Neo Performance Materials shares at C$36.38 each, investing C$101,864 and increasing his ownership by 0.58% to 481,997 shares.
• Neo reported quarterly EPS of C$0.73 on revenue of C$292.32 million. The company also pays a quarterly dividend of C$0.10 per share, equivalent to a 1.1% annual yield.
• Analysts maintain a consensus “Buy” rating, with an average price target of C$56.17, versus the stock’s recent price of C$36.54.

Neo Performance Materials Inc. (TSE:NEO - Get Free Report) Director Rahim Suleman bought 2,800 shares of the firm's stock in a transaction dated Thursday, August 13th. The shares were acquired at an average cost of C$36.38 per share, with a total value of C$101,864.00. Following the completion of the transaction, the director owned 481,997 shares in the company, valued at approximately C$17,535,050.86. The trade was a 0.58% increase in their ownership of the stock.

Neo Performance Materials Stock Performance

Shares of TSE:NEO traded down C$0.03 during midday trading on Monday, reaching C$36.54. The company had a trading volume of 144,302 shares, compared to its average volume of 290,943. The stock has a market cap of C$1.68 billion, a P/E ratio of 3,654.00 and a beta of 1.44. The company's 50 day moving average price is C$36.83 and its 200 day moving average price is C$29.31. The company has a current ratio of 2.06, a quick ratio of 1.92 and a debt-to-equity ratio of 34.03. 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 - Get Free Report) last announced its quarterly earnings data on Tuesday, August 11th. The company reported C$0.73 EPS for the quarter. The business 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%. As a group, sell-side 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 announced 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. This represents a $0.40 annualized dividend and a yield of 1.1%. The ex-dividend date was Friday, June 19th. Neo Performance Materials's payout ratio is presently 2,870.19%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. ATB Cormark Capital Markets upped their price objective on Neo Performance Materials from C$43.00 to C$53.50 and gave the stock an "outperform" rating in a report on Friday, July 10th. Stifel Nicolaus lifted their target price on shares of Neo Performance Materials from C$49.00 to C$55.00 and gave the stock a "buy" rating in a research report on Wednesday, August 12th. Finally, BMO Capital Markets upped their price target on shares of Neo Performance Materials from C$43.00 to C$60.00 in a research report on Monday, July 13th. Four analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of C$56.17.

About Neo Performance Materials

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.

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