Shares of Neo Performance Materials Inc. (TSE:NEO – Get Free Report) reached a new 52-week high during mid-day trading on Wednesday after the company announced a dividend. The stock traded as high as C$12.81 and last traded at C$12.54, with a volume of 171331 shares changing hands. The stock had previously closed at C$12.27.
The newly announced dividend which will be paid on Friday, June 27th. Shareholders of record on Friday, June 27th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $0.40 annualized dividend and a yield of 3.20%. Neo Performance Materials’s dividend payout ratio (DPR) is currently -525.33%.
Wall Street Analysts Forecast Growth
Separately, Stifel Nicolaus raised their target price on shares of Neo Performance Materials from C$16.50 to C$17.50 in a report on Monday, May 12th.
Neo Performance Materials Trading Up 1.9%
The business’s fifty day moving average is C$10.63 and its 200-day moving average is C$9.09. The stock has a market capitalization of C$365.84 million, a PE ratio of -164.16 and a beta of 1.38. The company has a quick ratio of 1.92, a current ratio of 2.59 and a debt-to-equity ratio of 10.65.
Insider Buying and Selling at Neo Performance Materials
In other Neo Performance Materials news, Director Rahim Suleman purchased 5,100 shares of Neo Performance Materials stock in a transaction on Wednesday, June 4th. The shares were purchased at an average cost of C$9.87 per share, with a total value of C$50,344.14. 22.38% of the stock is currently owned by corporate 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.
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