Neo Performance Materials (TSE:NEO) Insider Wyloo Consolidated Investments Pty Ltd. Sells 75,000 Shares

Key Points

• Wyloo Consolidated Investments Pty Ltd. sold 75,000 shares of Neo Performance Materials at an average price of C$18.25, totaling C$1,368,750, reducing their ownership by 0.90%.
• Neo Performance Materials recently announced a quarterly dividend of $0.10 per share, with an annualized yield of 1.9%.
• Analysts have issued optimistic ratings for Neo Performance Materials, with an average target price of C$25.00 and a recommendation to "buy" from two research analysts.

Neo Performance Materials Inc. (TSE:NEO - Get Free Report) insider Wyloo Consolidated Investments Pty Ltd. sold 75,000 shares of the company's stock in a transaction dated Tuesday, October 7th. The shares were sold at an average price of C$18.25, for a total value of C$1,368,750.00. Following the completion of the transaction, the insider owned 8,275,311 shares in the company, valued at C$151,024,425.75. This represents a 0.90% decrease in their position.

Wyloo Consolidated Investments Pty Ltd. also recently made the following trade(s):

• On Thursday, October 9th, Wyloo Consolidated Investments Pty Ltd. sold 8,275,311 shares of Neo Performance Materials stock. The stock was sold at an average price of C$20.00, for a total value of C$165,506,220.00.

Neo Performance Materials Stock Performance

Shares of NEO traded down C$1.90 during mid-day trading on Friday, hitting C$21.40. The company's stock had a trading volume of 988,087 shares, compared to its average volume of 172,667. The firm has a market capitalization of C$890.22 million, a PE ratio of -85.60 and a beta of 0.88. Neo Performance Materials Inc. has a one year low of C$7.18 and a one year high of C$23.33. The stock's 50-day moving average is C$18.06 and its two-hundred day moving average is C$13.95. The company has a debt-to-equity ratio of 10.65, a quick ratio of 1.92 and a current ratio of 2.59.

Neo Performance Materials Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, September 26th were issued a dividend of $0.10 per share. The ex-dividend date was Tuesday, September 16th. This represents a $0.40 dividend on an annualized basis and a yield of 1.9%. Neo Performance Materials's dividend payout ratio (DPR) is -114.66%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on NEO. Cormark raised Neo Performance Materials to a "moderate buy" rating in a research report on Wednesday, September 10th. Stifel Nicolaus increased their target price on Neo Performance Materials from C$22.00 to C$25.00 and gave the company a "buy" rating in a research report on Tuesday. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Neo Performance Materials has an average rating of "Buy" and an average target price of C$25.00.

Neo Performance Materials Company Profile

Neo Performance Materials Inc is engaged in the innovation, development, processing, and manufacturing of rare earth and rare metal-based functional materials. Its operating segments include Magnequench, Chemicals & Oxides, Rare Metals, and Corporate. The Magnequench segment produces magnetic powders used in bonded and hot-deformed, fully dense neodymium-iron-boron magnets.

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