NewMarket Corporation (NEU) Receives Consensus Recommendation of “Hold” from Analysts
NewMarket Corporation (NYSE:NEU) has received a consensus broker rating score of 3.00 (Hold) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold recommendation.
Zacks has also given NewMarket Corporation an industry rank of 90 out of 265 based on the ratings given to related companies.
Separately, BidaskClub downgraded NewMarket Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th.
NewMarket Corporation (NEU) traded up 0.56% during mid-day trading on Friday, hitting $421.82. The stock had a trading volume of 17,300 shares. The stock has a market cap of $5.00 billion, a PE ratio of 20.50 and a beta of 0.75. The firm’s 50-day moving average price is $428.90 and its 200-day moving average price is $450.01. NewMarket Corporation has a 1-year low of $386.90 and a 1-year high of $483.86.
NewMarket Corporation (NYSE:NEU) last announced its earnings results on Wednesday, August 2nd. The specialty chemicals company reported $5.29 earnings per share for the quarter, missing analysts’ consensus estimates of $5.73 by ($0.44). NewMarket Corporation had a return on equity of 46.94% and a net margin of 11.57%. The business had revenue of $547.20 million during the quarter, compared to analysts’ expectations of $570.10 million. During the same quarter in the previous year, the firm earned $5.50 EPS. NewMarket Corporation’s quarterly revenue was up 4.9% on a year-over-year basis. On average, equities analysts expect that NewMarket Corporation will post $20.23 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 15th will be paid a $1.75 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $7.00 dividend on an annualized basis and a dividend yield of 1.66%. NewMarket Corporation’s payout ratio is presently 34.03%.
A number of institutional investors have recently bought and sold shares of NEU. Advisor Group Inc. lifted its stake in NewMarket Corporation by 6.7% in the second quarter. Advisor Group Inc. now owns 238 shares of the specialty chemicals company’s stock valued at $110,000 after purchasing an additional 15 shares during the last quarter. US Bancorp DE lifted its stake in NewMarket Corporation by 2.5% in the first quarter. US Bancorp DE now owns 245 shares of the specialty chemicals company’s stock valued at $111,000 after purchasing an additional 6 shares during the last quarter. Shine Investment Advisory Services Inc. purchased a new position in NewMarket Corporation in the second quarter valued at approximately $128,000. YorkBridge Wealth Partners LLC lifted its stake in NewMarket Corporation by 1.4% in the second quarter. YorkBridge Wealth Partners LLC now owns 286 shares of the specialty chemicals company’s stock valued at $131,000 after purchasing an additional 4 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in NewMarket Corporation by 38.4% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 335 shares of the specialty chemicals company’s stock valued at $152,000 after purchasing an additional 93 shares during the last quarter. Institutional investors and hedge funds own 55.53% of the company’s stock.
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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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