NewMarket (NYSE:NEU) Announces Quarterly Earnings Results

NewMarket (NYSE:NEU) posted its quarterly earnings data on Wednesday. The specialty chemicals company reported $11.23 earnings per share (EPS) for the quarter, reports. NewMarket had a return on equity of 40.69% and a net margin of 14.82%. The business had revenue of $696.74 million for the quarter.

NewMarket Stock Performance

NYSE:NEU traded up $2.80 during mid-day trading on Friday, hitting $536.39. The stock had a trading volume of 5,470 shares, compared to its average volume of 43,301. NewMarket has a 52 week low of $371.69 and a 52 week high of $650.00. The company has a current ratio of 2.85, a quick ratio of 1.60 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $5.14 billion, a price-to-earnings ratio of 12.82 and a beta of 0.45. The company has a 50 day simple moving average of $614.01 and a 200-day simple moving average of $560.63.

NewMarket Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were given a $2.50 dividend. This is an increase from NewMarket’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $10.00 annualized dividend and a dividend yield of 1.86%. NewMarket’s dividend payout ratio is presently 24.06%.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of NewMarket from a “strong-buy” rating to a “buy” rating in a report on Sunday, February 4th.

Institutional Investors Weigh In On NewMarket

Hedge funds and other institutional investors have recently bought and sold shares of the business. Treasurer of the State of North Carolina lifted its holdings in shares of NewMarket by 0.7% during the 3rd quarter. Treasurer of the State of North Carolina now owns 2,739 shares of the specialty chemicals company’s stock valued at $1,246,000 after buying an additional 20 shares during the last quarter. Lindbrook Capital LLC lifted its position in shares of NewMarket by 35.6% in the 4th quarter. Lindbrook Capital LLC now owns 80 shares of the specialty chemicals company’s stock worth $44,000 after acquiring an additional 21 shares during the period. Xponance Inc. boosted its stake in NewMarket by 3.1% during the third quarter. Xponance Inc. now owns 805 shares of the specialty chemicals company’s stock worth $366,000 after buying an additional 24 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC raised its stake in shares of NewMarket by 4.0% in the 3rd quarter. J.P. Morgan Private Wealth Advisors LLC now owns 1,075 shares of the specialty chemicals company’s stock valued at $489,000 after buying an additional 41 shares in the last quarter. Finally, Los Angeles Capital Management LLC boosted its position in shares of NewMarket by 0.5% during the 4th quarter. Los Angeles Capital Management LLC now owns 8,750 shares of the specialty chemicals company’s stock valued at $4,776,000 after acquiring an additional 41 shares in the last quarter. 61.09% of the stock is currently owned by institutional investors.

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.