NewMarket (NYSE:NEU) Issues Earnings Results

NewMarket (NYSE:NEU) issued its quarterly earnings results on Wednesday. The specialty chemicals company reported $11.23 earnings per share (EPS) for the quarter, reports. NewMarket had a return on equity of 38.99% and a net margin of 14.82%. The company had revenue of $696.74 million for the quarter.

NewMarket Price Performance

NEU stock traded down $4.18 on Friday, hitting $529.41. 65,326 shares of the company’s stock traded hands, compared to its average volume of 39,737. The stock has a market cap of $5.08 billion, a price-to-earnings ratio of 12.73 and a beta of 0.45. NewMarket has a 1-year low of $371.69 and a 1-year high of $650.00. The company has a current ratio of 2.86, a quick ratio of 1.60 and a debt-to-equity ratio of 1.11. The stock has a fifty day moving average of $612.63 and a 200-day moving average of $561.14.

NewMarket Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued a $2.50 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $10.00 dividend on an annualized basis and a dividend yield of 1.89%. NewMarket’s payout ratio is currently 24.06%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. UMB Bank n.a. boosted its stake in shares of NewMarket by 64.5% during the 1st quarter. UMB Bank n.a. now owns 51 shares of the specialty chemicals company’s stock worth $32,000 after acquiring an additional 20 shares in the last quarter. New York State Teachers Retirement System lifted its holdings in shares of NewMarket by 1.1% during the first quarter. New York State Teachers Retirement System now owns 9,293 shares of the specialty chemicals company’s stock valued at $5,898,000 after purchasing an additional 100 shares during the last quarter. Louisiana State Employees Retirement System boosted its position in shares of NewMarket by 5.3% in the 1st quarter. Louisiana State Employees Retirement System now owns 2,000 shares of the specialty chemicals company’s stock valued at $1,269,000 after purchasing an additional 100 shares during the period. Venturi Wealth Management LLC purchased a new position in NewMarket in the 1st quarter worth about $5,562,000. Finally, State of Michigan Retirement System raised its holdings in NewMarket by 6.1% during the 1st quarter. State of Michigan Retirement System now owns 1,737 shares of the specialty chemicals company’s stock worth $1,102,000 after buying an additional 100 shares during the period. Institutional investors and hedge funds own 61.09% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com cut NewMarket from a “strong-buy” rating to a “buy” rating in a research note on Sunday, February 4th.

NewMarket Company Profile

NewMarket Corporation, through its subsidiaries, primarily engages in the manufacture and sale of petroleum additives. The company offers lubricant additives for use in various vehicle and industrial applications, including engine oils, transmission fluids, off-road powertrain and hydraulic systems, gear oils, hydraulic oils, turbine oils, and other applications where metal-to-metal moving parts are utilized; engine oil additives designed for passenger cars, motorcycles, on and off-road heavy duty commercial equipment, locomotives, and engines in ocean-going vessels; driveline additives designed for products, such as transmission fluids, axle fluids, and off-road powertrain fluids; and industrial additives designed for products for industrial applications consisting of hydraulic fluids, grease, industrial gear fluids, and industrial specialty applications, such as turbine oils.