Zacks: NewMarket Corporation (NYSE:NEU) Given Average Rating of “Hold” by Brokerages
NewMarket Corporation (NYSE:NEU) has earned a consensus broker rating score of 3.00 (Hold) from the one analysts that cover the stock, Zacks Investment Research reports. One analyst has rated the stock with a hold recommendation.
Zacks has also assigned NewMarket Corporation an industry rank of 108 out of 265 based on the ratings given to related companies.
Separately, BidaskClub lowered shares of NewMarket Corporation from a “buy” rating to a “hold” rating in a report on Saturday, June 24th.
NewMarket Corporation (NEU) traded up 0.01% during midday trading on Monday, hitting $454.90. 43,995 shares of the stock traded hands. The firm has a market cap of $5.39 billion, a PE ratio of 21.96 and a beta of 0.75. The stock has a 50-day moving average of $464.47 and a 200 day moving average of $447.23. NewMarket Corporation has a 52-week low of $386.90 and a 52-week high of $483.86.
NewMarket Corporation (NYSE:NEU) last announced its quarterly earnings data on Wednesday, April 26th. The specialty chemicals company reported $5.39 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $4.04 by $1.35. NewMarket Corporation had a net margin of 11.79% and a return on equity of 51.17%. The firm had revenue of $542.80 million during the quarter, compared to analyst estimates of $509 million. During the same quarter in the prior year, the firm posted $5.42 earnings per share. NewMarket Corporation’s quarterly revenue was up 6.5% on a year-over-year basis. Equities analysts forecast that NewMarket Corporation will post $20.56 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, July 3rd. Shareholders of record on Thursday, June 15th were given a $1.75 dividend. The ex-dividend date was Tuesday, June 13th. This represents a $7.00 dividend on an annualized basis and a yield of 1.54%. NewMarket Corporation’s payout ratio is currently 33.80%.
In other NewMarket Corporation news, insider Robert A. Shama sold 230 shares of the company’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $458.60, for a total value of $105,478.00. Following the transaction, the insider now owns 1,850 shares of the company’s stock, valued at $848,410. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 16.83% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. US Bancorp DE boosted its position in NewMarket Corporation by 2.5% in the first quarter. US Bancorp DE now owns 245 shares of the specialty chemicals company’s stock worth $111,000 after buying an additional 6 shares during the last quarter. TrimTabs Asset Management LLC boosted its position in NewMarket Corporation by 88.3% in the first quarter. TrimTabs Asset Management LLC now owns 273 shares of the specialty chemicals company’s stock worth $124,000 after buying an additional 128 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in NewMarket Corporation by 38.4% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 335 shares of the specialty chemicals company’s stock worth $152,000 after buying an additional 93 shares during the last quarter. CENTRAL TRUST Co boosted its position in NewMarket Corporation by 3.0% in the first quarter. CENTRAL TRUST Co now owns 414 shares of the specialty chemicals company’s stock worth $188,000 after buying an additional 12 shares during the last quarter. Finally, Advisors Preferred LLC bought a new position in NewMarket Corporation during the first quarter worth approximately $210,000. 56.13% of the stock is currently owned by institutional investors.
About NewMarket Corporation
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). The Company operates through petroleum additives segment, which is primarily represented by Afton.
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