Neo Performance Materials Inc. (NEO) to Issue Quarterly Dividend of $0.10 on September 27th

Neo Performance Materials Inc. (TSE:NEO) declared a quarterly dividend on Thursday, August 8th, Zacks reports. Shareholders of record on Tuesday, September 17th will be paid a dividend of 0.10 per share on Friday, September 27th. This represents a $0.40 dividend on an annualized basis and a yield of 5.77%. The ex-dividend date is Tuesday, September 17th.

Neo Performance Materials Trading Down 2.7 %

Shares of TSE NEO traded down C$0.19 during midday trading on Friday, reaching C$6.93. 210,359 shares of the stock were exchanged, compared to its average volume of 81,024. The business has a 50-day simple moving average of C$7.83 and a two-hundred day simple moving average of C$7.07. The company has a market capitalization of C$289.33 million, a price-to-earnings ratio of -26.65 and a beta of 1.44. Neo Performance Materials has a 12 month low of C$5.50 and a 12 month high of C$9.50. The company has a debt-to-equity ratio of 6.76, a current ratio of 3.08 and a quick ratio of 1.92.

Neo Performance Materials (TSE:NEO) last posted its quarterly earnings data on Friday, May 10th. The company reported C$0.01 EPS for the quarter, missing the consensus estimate of C$0.05 by C($0.04). The company had revenue of C$164.60 million during the quarter, compared to the consensus estimate of C$177.00 million. Neo Performance Materials had a negative net margin of 1.48% and a negative return on equity of 1.84%. As a group, equities research analysts expect that Neo Performance Materials will post 0.3828955 EPS for the current year.

Insider Buying and Selling at Neo Performance Materials

In related news, Director Yadin Rozov bought 8,900 shares of Neo Performance Materials stock in a transaction that occurred on Tuesday, May 28th. The stock was acquired at an average price of C$6.70 per share, with a total value of C$59,630.00. Company insiders own 21.76% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Stifel Nicolaus upgraded shares of Neo Performance Materials from a “hold” rating to a “buy” rating and lifted their price target for the company from C$7.50 to C$13.00 in a research note on Wednesday, June 19th.

About Neo Performance Materials

Neo Performance Materials Inc engages in the manufacture and sale of rare earth, magnetic powders, magnets, and rare metal-based functional materials in Canada and internationally. The company operates in three segments: Magnequench, Chemicals and Oxides, and Rare Metals. The Magnequench segment produces magnetic powders that are used in bonded and hot deformed fully dense neodymium-iron-boron magnets; and bonded magnets.