The NewMarket Corp. (NEU) to Issue $1.60 Quarterly Dividend

The NewMarket Corp. (NEU) to Issue $1.60 Quarterly Dividend

NewMarket Corp. (NYSE:NEU) announced a quarterly dividend on Friday, October 28th. Investors of record on Thursday, December 15th will be paid a dividend of 1.60 per share on Monday, January 2nd. This represents a $6.40 annualized dividend and a yield of 1.59%. The ex-dividend date is Tuesday, December 13th.

Shares of NewMarket Corp. (NYSE:NEU) opened at 402.09 on Monday. The firm has a market cap of $4.76 billion, a price-to-earnings ratio of 18.99 and a beta of 0.93. The company has a 50-day moving average price of $411.76 and a 200 day moving average price of $414.10. NewMarket Corp. has a 52 week low of $322.54 and a 52 week high of $447.97.

NewMarket Corp. (NYSE:NEU) last released its earnings results on Wednesday, October 26th. The company reported $6.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.22 by $0.78. NewMarket Corp. had a return on equity of 60.19% and a net margin of 12.41%. The business had revenue of $516.09 million for the quarter, compared to analyst estimates of $521.10 million. During the same quarter in the prior year, the company posted $5.08 earnings per share. NewMarket Corp.’s revenue was down 4.6% on a year-over-year basis. Analysts expect that NewMarket Corp. will post $21.07 EPS for the current fiscal year.

Several analysts have issued reports on the company. Zacks Investment Research upgraded NewMarket Corp. from a “hold” rating to a “buy” rating and set a $481.00 price objective on the stock in a research note on Tuesday, August 2nd. Longbow Research lowered NewMarket Corp. from a “buy” rating to a “neutral” rating in a research note on Friday, July 29th. Finally, BMO Capital Markets lowered NewMarket Corp. from an “outperform” rating to a “market perform” rating in a research note on Friday, September 30th.

A number of hedge funds have recently added to or reduced their stakes in NEU. Ameritas Investment Partners Inc. raised its position in shares of NewMarket Corp. by 3.6% in the second quarter. Ameritas Investment Partners Inc. now owns 1,574 shares of the company’s stock worth $652,000 after buying an additional 54 shares during the period. A.R.T. Advisors LLC raised its position in shares of NewMarket Corp. by 10.6% in the second quarter. A.R.T. Advisors LLC now owns 1,046 shares of the company’s stock worth $433,000 after buying an additional 100 shares during the period. Thrivent Financial for Lutherans raised its position in shares of NewMarket Corp. by 10.9% in the second quarter. Thrivent Financial for Lutherans now owns 1,420 shares of the company’s stock worth $588,000 after buying an additional 140 shares during the period. Comerica Bank raised its position in shares of NewMarket Corp. by 2.4% in the second quarter. Comerica Bank now owns 6,841 shares of the company’s stock worth $2,924,000 after buying an additional 161 shares during the period. Finally, Sei Investments Co. raised its position in shares of NewMarket Corp. by 15.3% in the second quarter. Sei Investments Co. now owns 1,276 shares of the company’s stock worth $529,000 after buying an additional 169 shares during the period. Hedge funds and other institutional investors own 58.44% of the company’s stock.

About NewMarket Corp.

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