Insider Buying: Neo Performance Materials (TSE:NEO) Director Purchases C$101,864.00 in Stock

Neo Performance Materials Inc. (TSE:NEO) Director Rahim Suleman acquired 2,800 shares of Neo Performance Materials stock in a transaction 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 acquisition, the director owned 481,997 shares of the company’s stock, valued at C$17,535,050.86. This trade represents a 0.58% increase in their position.

Neo Performance Materials Trading Down 2.8%

Shares of Neo Performance Materials stock opened at C$34.16 on Thursday. The company has a debt-to-equity ratio of 34.03, a current ratio of 2.06 and a quick ratio of 1.92. Neo Performance Materials Inc. has a 1 year low of C$15.31 and a 1 year high of C$47.19. The firm has a market cap of C$1.58 billion, a PE ratio of 3,416.00 and a beta of 1.44. The company has a 50 day simple moving average of C$37.10 and a two-hundred day simple moving average of C$29.64.

Neo Performance Materials (TSE:NEO) last announced its quarterly earnings data on Tuesday, August 11th. The company reported C$0.73 earnings per share for the quarter. The firm had revenue of C$292.32 million during the quarter. Neo Performance Materials had a net margin of 0.15% and a return on equity of 0.21%. Analysts expect that Neo Performance Materials Inc. will post 0.6753356 earnings per share for the current fiscal year.

Neo Performance Materials Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Monday, June 29th were given a $0.10 dividend. The ex-dividend date was Friday, June 19th. This represents a $0.40 annualized dividend and a yield of 1.2%. Neo Performance Materials’s payout ratio is presently 2,870.19%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on NEO. BMO Capital Markets raised their target price on shares of Neo Performance Materials from C$43.00 to C$60.00 in a report on Monday, July 13th. Stifel Nicolaus upped their price target on shares of Neo Performance Materials from C$49.00 to C$55.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Finally, ATB Cormark Capital Markets raised their price target on shares of 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. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average price target 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.