NewMarket (NYSE:NEU) Posts Quarterly Earnings Results

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

NewMarket Trading Up 0.0 %

NewMarket stock traded up $0.20 during trading on Friday, hitting $540.59. The company had a trading volume of 2,953 shares, compared to its average volume of 36,309. The company’s 50 day simple moving average is $545.86 and its 200-day simple moving average is $545.99. NewMarket has a 1-year low of $451.01 and a 1-year high of $650.00. The company has a current ratio of 2.66, a quick ratio of 1.48 and a debt-to-equity ratio of 0.95. The stock has a market cap of $5.19 billion, a price-to-earnings ratio of 13.00 and a beta of 0.49.

NewMarket Dividend Announcement

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

Insider Activity at NewMarket

In other NewMarket news, CAO Bruce R. Hazelgrove III sold 1,270 shares of the business’s stock in a transaction dated 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 directly owns 358 shares in the company, valued at $194,862.98. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 20.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of NEU. ORG Partners LLC purchased a new position in shares of NewMarket in the 1st quarter valued at about $30,000. Headlands Technologies LLC purchased a new stake in shares of NewMarket in the 2nd quarter valued at approximately $33,000. Janiczek Wealth Management LLC raised its holdings in shares of NewMarket by 1,300.0% in the 1st quarter. Janiczek Wealth Management LLC now owns 56 shares of the specialty chemicals company’s stock valued at $36,000 after purchasing an additional 52 shares in the last quarter. Quest Partners LLC purchased a new stake in shares of NewMarket during the 2nd quarter worth $38,000. Finally, Blue Trust Inc. grew its stake in shares of NewMarket by 590.9% during the third quarter. Blue Trust Inc. now owns 76 shares of the specialty chemicals company’s stock worth $39,000 after purchasing an additional 65 shares in the last quarter. 61.09% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

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.