NewMarket Corporation (NEU) Given Average Recommendation of “Hold” by Brokerages
NewMarket Corporation (NYSE:NEU) has been given an average broker rating score of 3.00 (Hold) from the one brokers that cover the company, Zacks Investment Research reports. One investment analyst has rated the stock with a hold rating.
Zacks has also given NewMarket Corporation an industry rank of 111 out of 265 based on the ratings given to its competitors.
Separately, BidaskClub downgraded shares of NewMarket Corporation from a “buy” rating to a “hold” rating in a report on Saturday, June 24th.
Several institutional investors have recently made changes to their positions in NEU. Vanguard Group Inc. increased its position in shares of NewMarket Corporation by 0.6% in the second quarter. Vanguard Group Inc. now owns 862,415 shares of the specialty chemicals company’s stock worth $397,125,000 after buying an additional 5,029 shares in the last quarter. BlackRock Inc. increased its position in shares of NewMarket Corporation by 1.1% in the second quarter. BlackRock Inc. now owns 723,178 shares of the specialty chemicals company’s stock worth $333,008,000 after buying an additional 7,868 shares in the last quarter. State Street Corp increased its position in shares of NewMarket Corporation by 3.4% in the second quarter. State Street Corp now owns 235,782 shares of the specialty chemicals company’s stock worth $108,568,000 after buying an additional 7,795 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of NewMarket Corporation by 1.4% in the second quarter. Bank of New York Mellon Corp now owns 110,285 shares of the specialty chemicals company’s stock worth $50,784,000 after buying an additional 1,560 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of NewMarket Corporation by 10.3% in the first quarter. Geode Capital Management LLC now owns 69,587 shares of the specialty chemicals company’s stock worth $31,538,000 after buying an additional 6,514 shares in the last quarter. Institutional investors and hedge funds own 56.57% of the company’s stock.
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Shares of NewMarket Corporation (NYSE NEU) traded up 0.23% on Tuesday, reaching $422.01. 9,860 shares of the company traded hands. NewMarket Corporation has a 1-year low of $386.90 and a 1-year high of $483.86. The company has a 50-day moving average of $445.58 and a 200-day moving average of $451.71. The stock has a market capitalization of $5.00 billion, a price-to-earnings ratio of 20.51 and a beta of 0.74.
NewMarket Corporation (NYSE:NEU) last announced its quarterly earnings data on Wednesday, August 2nd. The specialty chemicals company reported $5.29 EPS for the quarter, missing the Zacks’ consensus estimate of $5.73 by $0.44. The firm had revenue of $547.20 million for the quarter, compared to analysts’ expectations of $570.10 million. NewMarket Corporation had a return on equity of 46.94% and a net margin of 11.57%. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.50 EPS. Analysts anticipate that NewMarket Corporation will post $20.23 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 15th will be issued a $1.75 dividend. The ex-dividend date is Thursday, September 14th. This represents a $7.00 dividend on an annualized basis and a dividend yield of 1.66%. NewMarket Corporation’s dividend payout ratio is presently 34.03%.
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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