NewMarket Corp. (NEU) Lowered to Market Perform at BMO Capital Markets
Other equities analysts also recently issued research reports about the stock. Zacks Investment Research downgraded shares of NewMarket Corp. from a buy rating to a hold rating in a research report on Wednesday, September 28th. Longbow Research downgraded shares of NewMarket Corp. from a buy rating to a neutral rating in a research report on Friday, July 29th.
Shares of NewMarket Corp. (NYSE:NEU) traded down 0.02% during mid-day trading on Friday, hitting $429.22. 4,656 shares of the stock traded hands. NewMarket Corp. has a 12-month low of $322.54 and a 12-month high of $447.97. The firm has a market cap of $5.09 billion, a price-to-earnings ratio of 21.22 and a beta of 0.93. The firm’s 50 day moving average price is $428.46 and its 200 day moving average price is $412.62.
NewMarket Corp. (NYSE:NEU) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $5.50 earnings per share for the quarter, topping the Zacks’ consensus estimate of $5.45 by $0.05. The firm earned $521.80 million during the quarter, compared to analysts’ expectations of $556.60 million. NewMarket Corp. had a net margin of 11.80% and a return on equity of 62.23%. NewMarket Corp.’s quarterly revenue was down 6.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.65 EPS. On average, equities research analysts predict that NewMarket Corp. will post $20.30 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Saturday, October 1st. Shareholders of record on Thursday, September 15th were given a dividend of $1.60 per share. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $6.40 dividend on an annualized basis and a yield of 1.49%. NewMarket Corp.’s payout ratio is currently 31.64%.
Institutional investors have recently made changes to their positions in the company. Commonwealth Equity Services Inc increased its position in shares of NewMarket Corp. by 0.3% in the second quarter. Commonwealth Equity Services Inc now owns 745 shares of the company’s stock worth $309,000 after buying an additional 2 shares during the last quarter. Commerce Bank increased its position in shares of NewMarket Corp. by 0.8% in the second quarter. Commerce Bank now owns 531 shares of the company’s stock worth $220,000 after buying an additional 4 shares in the last quarter. Capstone Asset Management Co. increased its position in shares of NewMarket Corp. by 0.5% in the second quarter. Capstone Asset Management Co. now owns 1,072 shares of the company’s stock worth $444,000 after buying an additional 5 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its position in shares of NewMarket Corp. by 1.6% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 570 shares of the company’s stock worth $236,000 after buying an additional 9 shares in the last quarter. Finally, BlackRock Advisors LLC increased its position in shares of NewMarket Corp. by 0.4% in the second quarter. BlackRock Advisors LLC now owns 4,489 shares of the company’s stock worth $1,860,000 after buying an additional 17 shares in the last quarter. Institutional investors own 58.47% of the company’s stock.
About NewMarket Corp.
NewMarket Corporation is a holding company. The Company is the parent company of Afton Chemical Corporation (Afton), Ethyl Corporation (Ethyl), NewMarket Services Corporation (NewMarket Services) and NewMarket Development Corporation (NewMarket Development). It operates in petroleum additives segment, which is primarily represented by Afton.
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