NewMarket Corporation Announces Quarterly Dividend of $1.75 (NEU)
NewMarket Corporation (NYSE:NEU) announced a quarterly dividend on Friday, August 4th, Wall Street Journal reports. Stockholders of record on Friday, September 15th will be paid a dividend of 1.75 per share by the specialty chemicals company on Monday, October 2nd. This represents a $7.00 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date of this dividend is Thursday, September 14th.
NewMarket Corporation has increased its dividend payment by an average of 33.3% annually over the last three years and has raised its dividend annually for the last 8 consecutive years.
Shares of NewMarket Corporation (NYSE NEU) traded down 1.27% during mid-day trading on Friday, hitting $436.04. The stock had a trading volume of 62,352 shares. NewMarket Corporation has a 52-week low of $386.90 and a 52-week high of $483.86. The stock has a 50 day moving average price of $460.98 and a 200-day moving average price of $452.62. The company has a market cap of $5.17 billion, a PE ratio of 21.19 and a beta of 0.74.
NewMarket Corporation (NYSE:NEU) last released its quarterly earnings data on Wednesday, August 2nd. The specialty chemicals company reported $5.29 earnings per share for the quarter, missing the consensus estimate of $5.73 by $0.44. NewMarket Corporation had a net margin of 11.79% and a return on equity of 51.17%. The firm had revenue of $547.20 million during the quarter, compared to analysts’ expectations of $570.10 million. During the same period in the previous year, the business earned $5.50 earnings per share. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. On average, equities analysts expect that NewMarket Corporation will post $20.56 earnings per share for the current fiscal year.
Separately, BidaskClub downgraded NewMarket Corporation from a “buy” rating to a “hold” rating in a research report on Saturday, June 24th.
In other NewMarket Corporation news, insider Robert A. Shama sold 230 shares of the firm’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $458.60, for a total transaction of $105,478.00. Following the completion of the transaction, the insider now owns 1,850 shares of the company’s stock, valued at $848,410. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 16.83% of the company’s stock.
NewMarket Corporation Company Profile
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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