NewMarket (NYSE:NEU) Posts Quarterly Earnings Results

NewMarket (NYSE:NEU) announced its earnings results on Wednesday. The specialty chemicals company reported $13.50 EPS for the quarter, FiscalAI reports. NewMarket had a return on equity of 24.62% and a net margin of 15.80%. The firm had revenue of $716.50 million for the quarter.

NewMarket Stock Down 2.0%

NYSE:NEU traded down $17.68 during trading hours on Thursday, reaching $855.59. 22,807 shares of the stock were exchanged, compared to its average volume of 127,146. The firm has a 50 day moving average of $898.50 and a 200 day moving average of $762.39. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.25 and a quick ratio of 1.23. The stock has a market cap of $7.87 billion, a PE ratio of 18.41 and a beta of 0.55. NewMarket has a twelve month low of $580.03 and a twelve month high of $981.66.

NewMarket Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th were given a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend was Tuesday, September 15th. NewMarket’s dividend payout ratio is currently 25.82%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on NEU shares. Weiss Ratings raised shares of NewMarket from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 8th. Wall Street Zen upgraded shares of NewMarket from a “hold” rating to a “buy” rating in a report on Saturday, August 1st. One equities research analyst has rated the stock with a Buy rating. According to data from MarketBeat, the stock currently has a consensus rating of “Buy”.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in NEU. Trust Co. of Vermont bought a new stake in shares of NewMarket during the 2nd quarter worth approximately $28,000. Johnson Financial Group Inc. bought a new position in NewMarket in the second quarter valued at approximately $64,000. Root Financial Partners LLC bought a new position in NewMarket in the third quarter valued at approximately $80,000. Strs Ohio lifted its stake in NewMarket by 12.7% during the first quarter. Strs Ohio now owns 151 shares of the specialty chemicals company’s stock worth $97,000 after purchasing an additional 17 shares during the last quarter. Finally, Rockefeller Capital Management L.P. boosted its holdings in shares of NewMarket by 113.7% in the 4th quarter. Rockefeller Capital Management L.P. now owns 156 shares of the specialty chemicals company’s stock valued at $108,000 after purchasing an additional 83 shares in the last quarter. Institutional investors and hedge funds own 61.09% of the company’s stock.

About NewMarket

NewMarket Corporation (NYSE: NEU) is a holding company focused primarily on the development, manufacture and sale of petroleum additives. Its products are used to improve the performance, durability, efficiency and environmental characteristics of fuels, lubricants and other petroleum-based products.

NewMarket’s principal operating businesses include Afton Chemical Corporation and Ethyl Corporation. Afton Chemical develops and supplies additive packages and components for engine oils, transmission fluids, hydraulic fluids, fuels and other industrial applications.