Neo Performance Materials Inc. (TSE:NEO) Announces Quarterly Dividend of $0.10

Neo Performance Materials Inc. (TSE:NEO) announced a quarterly dividend on Tuesday, June 18th, Zacks reports. Shareholders of record on Thursday, June 27th will be given a dividend of 0.10 per share on Thursday, June 27th. This represents a $0.40 dividend on an annualized basis and a yield of 4.81%. The ex-dividend date of this dividend is Tuesday, June 18th.

Neo Performance Materials Price Performance

NEO traded up C$0.94 during trading on Friday, reaching C$8.32. 600,613 shares of the stock were exchanged, compared to its average volume of 82,502. The business’s 50 day moving average price is C$6.39 and its two-hundred day moving average price is C$6.92. The company has a debt-to-equity ratio of 6.76, a current ratio of 3.08 and a quick ratio of 1.92. The company has a market capitalization of C$347.36 million, a price-to-earnings ratio of -32.00 and a beta of 1.44. Neo Performance Materials has a 1 year low of C$5.50 and a 1 year high of C$9.50.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on NEO shares. Raymond James cut their price target on Neo Performance Materials from C$13.00 to C$11.00 and set an “outperform” rating for the company in a report on Monday, March 18th. Stifel Nicolaus cut their price target on Neo Performance Materials from C$9.00 to C$7.50 and set a “hold” rating for the company in a report on Monday, March 18th.

Insider Transactions at Neo Performance Materials

In other Neo Performance Materials news, Director Yadin Rozov bought 8,900 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was purchased at an average cost of C$6.70 per share, for a total transaction of C$59,630.00. In related news, Director Rahim Suleman bought 60,000 shares of the firm’s stock in a transaction dated Tuesday, March 19th. The stock was bought at an average price of C$6.05 per share, with a total value of C$363,000.00. Also, Director Yadin Rozov bought 8,900 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was bought at an average cost of C$6.70 per share, with a total value of C$59,630.00. Insiders purchased a total of 90,075 shares of company stock valued at $552,208 over the last three months. 21.76% of the stock is currently owned by insiders.

Neo Performance Materials Company Profile

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.