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

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

Neo Performance Materials Trading Down 2.7 %

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

Neo Performance Materials (TSE:NEO) last announced 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). Neo Performance Materials had a negative net margin of 1.48% and a negative return on equity of 1.84%. The firm had revenue of C$164.60 million for the quarter, compared to analysts’ expectations of C$177.00 million. Research analysts expect that Neo Performance Materials will post 0.3828955 earnings per share for the current fiscal year.

Insider Transactions at Neo Performance Materials

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

Analyst Upgrades and Downgrades

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

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.