Wyloo Consolidated Investments Pty Ltd. Sells 8,275,311 Shares of Neo Performance Materials (TSE:NEO) Stock

Neo Performance Materials Inc. (TSE:NEO) insider Wyloo Consolidated Investments Pty Ltd. sold 8,275,311 shares of the firm’s stock in a transaction that occurred on Thursday, October 9th. The shares were sold at an average price of C$20.00, for a total value of C$165,506,220.00.

Wyloo Consolidated Investments Pty Ltd. also recently made the following trade(s):

• On Tuesday, October 7th, Wyloo Consolidated Investments Pty Ltd. sold 75,000 shares of Neo Performance Materials stock. The stock was sold at an average price of C$18.25, for a total value of C$1,368,750.00.

Neo Performance Materials Stock Performance

Shares of NEO stock opened at C$20.40 on Friday. The stock has a fifty day moving average price of C$18.15 and a 200 day moving average price of C$14.07. The stock has a market cap of C$848.62 million, a PE ratio of -81.60 and a beta of 0.88. Neo Performance Materials Inc. has a 1 year low of C$7.18 and a 1 year high of C$23.33. The company has a debt-to-equity ratio of 10.65, a quick ratio of 1.92 and a current ratio of 2.59.

Neo Performance Materials Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, September 26th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend was Tuesday, September 16th. Neo Performance Materials’s payout ratio is -114.66%.

Wall Street Analysts Forecast Growth

NEO has been the subject of a number of recent analyst reports. Cormark raised Neo Performance Materials to a “moderate buy” rating in a research report on Wednesday, September 10th. Stifel Nicolaus upped their price target on Neo Performance Materials from C$22.00 to C$25.00 and gave the stock a “buy” rating in a research note on Tuesday, October 7th. Two analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of C$25.00.

About Neo Performance Materials

Neo Performance Materials Inc is engaged in the innovation, development, processing, and manufacturing of rare earth and rare metal-based functional materials. Its operating segments include Magnequench, Chemicals & Oxides, Rare Metals, and Corporate. The Magnequench segment produces magnetic powders used in bonded and hot-deformed, fully dense neodymium-iron-boron magnets.