NewMarket Co. (NYSE:NEU) Raises Dividend to $1.90 Per Share

NewMarket Co. (NYSE:NEU) declared a quarterly dividend on Thursday, August 1st, Zacks reports. Investors of record on Monday, September 16th will be paid a dividend of 1.90 per share by the specialty chemicals company on Tuesday, October 1st. This represents a $7.60 annualized dividend and a yield of 1.67%. The ex-dividend date of this dividend is Friday, September 13th. This is a boost from NewMarket’s previous quarterly dividend of $1.75.

NewMarket has increased its dividend payment by an average of 7.7% per year over the last three years and has raised its dividend annually for the last 10 consecutive years.

NEU stock traded down $1.43 during trading on Wednesday, reaching $454.85. The company’s stock had a trading volume of 21,429 shares, compared to its average volume of 71,723. The company has a quick ratio of 1.60, a current ratio of 2.93 and a debt-to-equity ratio of 1.22. The company’s fifty day moving average is $457.90 and its 200-day moving average is $428.85. The company has a market capitalization of $5.11 billion, a P/E ratio of 22.36 and a beta of 0.46. NewMarket has a 1 year low of $352.89 and a 1 year high of $489.11.

NewMarket (NYSE:NEU) last announced its quarterly earnings data on Wednesday, July 31st. The specialty chemicals company reported $6.63 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $5.16 by $1.47. NewMarket had a return on equity of 47.25% and a net margin of 11.70%. The business had revenue of $563.42 million for the quarter. Analysts anticipate that NewMarket will post 23.63 earnings per share for the current year.

NEU has been the topic of a number of research analyst reports. Zacks Investment Research raised NewMarket from a “hold” rating to a “strong-buy” rating and set a $512.00 price target on the stock in a report on Friday, August 9th. Buckingham Research raised shares of NewMarket from an “underperform” rating to a “neutral” rating and set a $420.00 price objective for the company in a report on Friday, August 2nd.

NewMarket Company Profile

NewMarket Corporation, through its subsidiaries, engages in the petroleum additives businesses. 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, metalworking fluids, and other applications where metal-to-metal moving parts are utilized; and engine oil, driveline, and industrial additives.

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Dividend History for NewMarket (NYSE:NEU)

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