NewMarket (NYSE:NEU) Issues Quarterly Earnings Results

NewMarket (NYSE:NEU) announced its quarterly earnings data on Wednesday. The specialty chemicals company reported $13.79 earnings per share (EPS) for the quarter, reports. The firm had revenue of $724.95 million during the quarter. NewMarket had a return on equity of 37.06% and a net margin of 15.12%.

NewMarket Stock Performance

Shares of NEU traded up $0.20 during mid-day trading on Friday, reaching $540.59. The company had a trading volume of 2,953 shares, compared to its average volume of 36,309. The stock has a market capitalization of $5.19 billion, a P/E ratio of 13.00 and a beta of 0.49. NewMarket has a 52-week low of $451.01 and a 52-week high of $650.00. The stock has a 50 day moving average of $545.86 and a two-hundred day moving average of $545.99. The company has a quick ratio of 1.48, a current ratio of 2.66 and a debt-to-equity ratio of 0.95.

NewMarket Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 16th were issued a $2.50 dividend. The ex-dividend date was Monday, September 16th. This represents a $10.00 annualized dividend and a dividend yield of 1.85%. NewMarket’s dividend payout ratio (DPR) is presently 24.06%.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of NewMarket from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 6th.

Insider Activity at NewMarket

In related news, CAO Bruce R. Hazelgrove III sold 1,270 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $544.31, for a total transaction of $691,273.70. Following the sale, the chief accounting officer now owns 358 shares in the company, valued at approximately $194,862.98. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 20.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On NewMarket

A number of hedge funds have recently bought and sold shares of NEU. ORG Partners LLC purchased a new stake in NewMarket during the 1st quarter worth approximately $30,000. Janiczek Wealth Management LLC grew its holdings in shares of NewMarket by 1,300.0% during the first quarter. Janiczek Wealth Management LLC now owns 56 shares of the specialty chemicals company’s stock worth $36,000 after buying an additional 52 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of NewMarket in the second quarter valued at about $33,000. Quest Partners LLC purchased a new position in shares of NewMarket in the second quarter worth about $38,000. Finally, Blue Trust Inc. lifted its stake in shares of NewMarket by 590.9% in the third quarter. Blue Trust Inc. now owns 76 shares of the specialty chemicals company’s stock worth $39,000 after buying an additional 65 shares in the last quarter. Hedge funds and other institutional investors own 61.09% of the company’s stock.

About NewMarket

NewMarket Corporation, through its subsidiaries, primarily engages in the manufacture and sale of petroleum additives. The company offers lubricant additives for use in various vehicle and industrial applications, including engine oils, transmission fluids, off-road powertrain and hydraulic systems, gear oils, hydraulic oils, turbine oils, and other applications where metal-to-metal moving parts are utilized; engine oil additives designed for passenger cars, motorcycles, on and off-road heavy duty commercial equipment, locomotives, and engines in ocean-going vessels; driveline additives designed for products, such as transmission fluids, axle fluids, and off-road powertrain fluids; and industrial additives designed for products for industrial applications consisting of hydraulic fluids, grease, industrial gear fluids, and industrial specialty applications, such as turbine oils.