NewMarket (NYSE:NEU) Releases Earnings Results
by Teresa Graham · The Cerbat GemNewMarket (NYSE:NEU – Get Free Report) released its quarterly earnings results on Wednesday. The specialty chemicals company reported $999.00 earnings per share for the quarter, Zacks reports. NewMarket had a net margin of 15.37% and a return on equity of 25.38%.
NewMarket Stock Performance
NEU stock traded down $0.45 during trading on Wednesday, reaching $641.62. The company had a trading volume of 89,278 shares, compared to its average volume of 148,218. The firm has a 50-day simple moving average of $625.21 and a 200-day simple moving average of $696.51. The company has a market cap of $6.03 billion, a price-to-earnings ratio of 14.44 and a beta of 0.48. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 2.53. NewMarket has a twelve month low of $574.32 and a twelve month high of $875.97.
NewMarket Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Monday, March 16th were paid a $3.00 dividend. The ex-dividend date was Monday, March 16th. This represents a $12.00 dividend on an annualized basis and a yield of 1.9%. NewMarket’s dividend payout ratio (DPR) is 27.01%.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings cut shares of NewMarket from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, March 20th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has a consensus rating of “Hold”.
Read Our Latest Stock Report on NEU
Insider Buying and Selling
In related news, Director Ting Xu bought 400 shares of the stock in a transaction that occurred on Tuesday, February 24th. The stock was bought at an average cost of $619.21 per share, for a total transaction of $247,684.00. Following the purchase, the director directly owned 929 shares of the company’s stock, valued at approximately $575,246.09. This trade represents a 75.61% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 8.60% of the stock is owned by company insiders.
Institutional Trading of NewMarket
Institutional investors have recently bought and sold shares of the stock. Los Angeles Capital Management LLC acquired a new stake in NewMarket in the 4th quarter worth approximately $25,000. Quarry LP acquired a new stake in NewMarket in the 3rd quarter worth approximately $52,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in NewMarket by 100.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78 shares of the specialty chemicals company’s stock worth $44,000 after purchasing an additional 39 shares in the last quarter. Johnson Financial Group Inc. acquired a new stake in NewMarket in the 4th quarter worth approximately $86,000. Finally, EverSource Wealth Advisors LLC boosted its stake in NewMarket by 88.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 151 shares of the specialty chemicals company’s stock worth $104,000 after purchasing an additional 71 shares in the last quarter. 61.09% of the stock is currently owned by institutional investors and hedge funds.
About NewMarket
NewMarket Corporation is a specialty chemicals and lubricants company headquartered in Richmond, Virginia. Through its Valvoline business, the company markets a broad portfolio of automotive aftermarket products, including engine oils, transmission fluids, greases and vehicle care solutions. Valvoline products are distributed through retail and commercial channels as well as a network of quick-lube service centers that provide oil changes, preventive maintenance and related services.
In its chemical additives segment, NewMarket develops, manufactures and sells performance additives for fuels, lubricants and industrial fluids.