NewMarket Corp. (NYSE:NEU) was downgraded by equities researchers at BMO Capital Markets from an “outperform” rating to a “market perform” rating in a research report issued on Friday.
NEU has been the subject of a number of other research reports. Longbow Research cut shares of NewMarket Corp. from a “buy” rating to a “neutral” rating in a research note on Friday, July 29th. Zacks Investment Research cut shares of NewMarket Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday.
NewMarket Corp. (NYSE:NEU) traded up 0.8736% during trading on Friday, hitting $423.7601. The stock had a trading volume of 9,561 shares. NewMarket Corp. has a 12 month low of $322.54 and a 12 month high of $447.97. The firm has a 50 day moving average of $428.50 and a 200-day moving average of $412.29. The stock has a market cap of $5.02 billion, a price-to-earnings ratio of 20.9513 and a beta of 0.97.
NewMarket Corp. (NYSE:NEU) last released its earnings results on Wednesday, July 27th. The company reported $5.50 EPS for the quarter, topping analysts’ consensus estimates of $5.45 by $0.05. The business 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%. The company’s quarterly revenue was down 6.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.65 earnings per share. Equities analysts predict that NewMarket Corp. will post $20.30 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, October 1st. Investors of record on Thursday, September 15th will be paid a dividend of $1.60 per share. The ex-dividend date is Tuesday, September 13th. This represents a $6.40 annualized dividend and a yield of 1.52%. NewMarket Corp.’s dividend payout ratio is presently 31.64%.
Hedge funds have recently made changes to their positions in the stock. Norges Bank acquired a new stake in shares of NewMarket Corp. during the fourth quarter valued at about $39,412,000. Emerald Acquisition Ltd. acquired a new stake in shares of NewMarket Corp. during the second quarter valued at about $9,087,000. Capital Analysts LLC boosted its stake in shares of NewMarket Corp. by 1,549.2% in the second quarter. Capital Analysts LLC now owns 11,528 shares of the company’s stock valued at $1,214,000 after buying an additional 10,829 shares in the last quarter. BlackRock Fund Advisors boosted its stake in shares of NewMarket Corp. by 3.2% in the second quarter. BlackRock Fund Advisors now owns 336,342 shares of the company’s stock valued at $139,373,000 after buying an additional 10,555 shares in the last quarter. Finally, Denali Advisors LLC acquired a new stake in shares of NewMarket Corp. during the second quarter valued at about $4,061,000. 58.47% of the stock is owned by institutional investors.
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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