Neo Performance Materials (TSE:NEO) Stock Falls 0.1% - Here's Why

Key Points

• Neo Performance Materials shares slipped 0.1% to C$26.19 in mid-day trading, while trading volume rose 111% above its average.
• Analysts remain positive: the stock has an average “Buy” rating and a C$56.17 average price target; Stifel raised its target to C$55 and Jefferies upgraded the shares to “Strong Buy.”
• The company reported quarterly EPS of C$0.54 on revenue of C$275.57 million and declared a quarterly dividend of C$0.10 per share, equivalent to a 1.5% annualized yield.

Neo Performance Materials Inc. (TSE:NEO - Get Free Report)'s stock price traded down 0.1% during mid-day trading on Tuesday. The company traded as low as C$24.22 and last traded at C$26.19. Approximately 621,493 shares traded hands during trading, an increase of 111% from the average daily volume of 294,797 shares. The stock had previously closed at C$26.22.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Stifel Nicolaus boosted their price target 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. Jefferies Financial Group upgraded shares of Neo Performance Materials to a "strong-buy" rating in a research report on Friday, September 25th. One investment analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. According to MarketBeat.com, Neo Performance Materials has an average rating of "Buy" and an average target price of C$56.17.

Neo Performance Materials Stock Down 0.1%

The firm has a 50-day moving average of C$28.59 and a two-hundred day moving average of C$29.28. The stock has a market capitalization of C$1.21 billion, a price-to-earnings ratio of 2,619.00 and a beta of 0.99. The company has a quick ratio of 1.92, a current ratio of 2.06 and a debt-to-equity ratio of 34.03.

Neo Performance Materials (TSE:NEO - Get Free Report) last released its earnings results on Tuesday, November 10th. The company reported C$0.54 earnings per share for the quarter. The company had revenue of C$275.57 million for the quarter. Neo Performance Materials had a return on equity of 0.21% and a net margin of 0.15%. As a group, sell-side analysts anticipate that Neo Performance Materials Inc. will post 0.68 earnings per share for the current year.

Neo Performance Materials Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 28th. Investors of record on Monday, September 28th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Friday, September 18th. Neo Performance Materials's dividend payout ratio (DPR) is currently 2,870.19%.

Insider Buying and Selling

In related news, Director Rahim Suleman acquired 2,800 shares of the stock in a transaction that occurred on Thursday, August 13th. The shares were purchased 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 of the company's stock, valued at approximately C$17,535,050.86. This trade represents a 0.58% increase in their position. Insiders own 22.38% of the company's stock.

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.

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