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 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 Price Performance

Shares of NEU stock traded up $2.80 during mid-day trading on Friday, reaching $536.39. The company’s stock had a trading volume of 5,470 shares, compared to its average volume of 43,301. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.60 and a current ratio of 2.85. The firm’s 50-day moving average is $614.01 and its two-hundred day moving average is $560.63. NewMarket has a 1-year low of $371.69 and a 1-year high of $650.00. The company has a market cap of $5.14 billion, a P/E ratio of 12.82 and a beta of 0.45.

NewMarket Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were given a dividend of $2.50 per share. This is a positive change 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 dividend on an annualized basis and a yield of 1.86%. NewMarket’s payout ratio is currently 24.06%.

Institutional Trading of NewMarket

Large investors have recently made changes to their positions in the company. New York State Teachers Retirement System increased its stake in NewMarket by 1.1% in the 1st 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 buying an additional 100 shares during the last quarter. Louisiana State Employees Retirement System raised its holdings in NewMarket by 5.3% during the first quarter. Louisiana State Employees Retirement System now owns 2,000 shares of the specialty chemicals company’s stock worth $1,269,000 after acquiring an additional 100 shares in the last quarter. Venturi Wealth Management LLC bought a new position in NewMarket in the first quarter valued at approximately $5,562,000. State of Michigan Retirement System grew its stake in shares of NewMarket by 6.1% in the first quarter. State of Michigan Retirement System now owns 1,737 shares of the specialty chemicals company’s stock valued at $1,102,000 after buying an additional 100 shares in the last quarter. Finally, Red Door Wealth Management LLC acquired a new position in NewMarket during the first quarter worth $207,000. Institutional investors own 61.09% of the company’s stock.

Analyst Upgrades and Downgrades

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

About NewMarket

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.