Neo Performance Materials (TSE:NEO) Insider Wyloo Consolidated Investments Pty Ltd. Sells 8,275,311 Shares

Key Points

• Wyloo Consolidated Investments Pty Ltd. sold 8,275,311 shares of Neo Performance Materials at an average price of C$20.00, totaling C$165.5 million, on October 9th.
• Neo Performance Materials' stock recently saw a decline of 8.2%, trading down to C$21.40 with a 1-year high of C$23.33 and low of C$7.18.
• The company announced a quarterly dividend of $0.10 per share, representing a 1.9% yield, although its payout ratio is currently listed at -114.66%.

Neo Performance Materials Inc. (TSE:NEO - Get Free Report) insider Wyloo Consolidated Investments Pty Ltd. sold 8,275,311 shares of the firm's stock in a transaction dated Thursday, October 9th. The shares were sold at an average price of C$20.00, for a total transaction of C$165,506,220.00.

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

• On Tuesday, October 7th, Wyloo Consolidated Investments Pty Ltd. sold 75,000 shares of Neo Performance Materials stock. The stock was sold at an average price of C$18.25, for a total transaction of C$1,368,750.00.

Neo Performance Materials Trading Down 8.2%

Shares of TSE:NEO traded down C$1.90 during trading on Friday, hitting C$21.40. 988,087 shares of the company's stock were exchanged, compared to its average volume of 172,667. Neo Performance Materials Inc. has a 1-year low of C$7.18 and a 1-year high of C$23.33. The firm has a 50-day moving average price of C$18.06 and a two-hundred day moving average price of C$13.95. The company has a current ratio of 2.59, a quick ratio of 1.92 and a debt-to-equity ratio of 10.65. The firm has a market cap of C$890.22 million, a P/E ratio of -85.60 and a beta of 0.88.

Neo Performance Materials Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, September 26th were given a dividend of $0.10 per share. The ex-dividend date was Tuesday, September 16th. This represents a $0.40 annualized dividend and a dividend yield of 1.9%. Neo Performance Materials's payout ratio is currently -114.66%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Cormark upgraded shares of Neo Performance Materials to a "moderate buy" rating in a research report on Wednesday, September 10th. Stifel Nicolaus lifted their price objective on shares of Neo Performance Materials from C$22.00 to C$25.00 and gave the stock a "buy" rating in a research note on Tuesday. Two analysts have rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of "Buy" and a consensus price target of C$25.00.

About Neo Performance Materials

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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