NewMarket Corporation (NYSE:NEU) Announces Dividend Increase – $3.25 Per Share

NewMarket Corporation (NYSE:NEU) announced a quarterly dividend on Thursday, October 29th. Investors of record on Tuesday, December 15th will be paid a dividend of $3.25 per share by the specialty chemicals company on Friday, January 1st. This represents a $13.00 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Tuesday, December 15th. This is a 8.3% increase from NewMarket’s previous quarterly dividend of $3.00.

NewMarket has raised its dividend by an average of 0.1% per year over the last three years and has raised its dividend every year for the last 7 years.

NewMarket Stock Performance

Shares of NEU opened at $804.85 on Friday. The firm has a fifty day moving average of $896.00 and a 200-day moving average of $762.80. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.23 and a current ratio of 2.25. The company has a market cap of $7.40 billion, a price-to-earnings ratio of 17.71 and a beta of 0.55. NewMarket has a 1 year low of $580.03 and a 1 year high of $981.66.

NewMarket (NYSE:NEU) last announced its earnings results on Wednesday, October 28th. The specialty chemicals company reported $13.50 EPS for the quarter. The business had revenue of $716.50 million during the quarter. NewMarket had a return on equity of 25.64% and a net margin of 16.51%.

Analyst Upgrades and Downgrades

NEU has been the topic of several research analyst reports. Weiss Ratings upgraded shares of NewMarket from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. Wall Street Zen upgraded shares of NewMarket from a “hold” rating to a “buy” rating in a research note on Saturday, August 1st. One research analyst has rated the stock with a Buy rating. Based on data from MarketBeat.com, NewMarket presently has a consensus rating of “Buy”.

NewMarket Company Profile

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.