NewMarket Co. (NYSE:NEU) declared a quarterly dividend on Thursday, August 1st, Zacks reports. Stockholders of record on Monday, September 16th will be given 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 dividend yield of 1.67%. The ex-dividend date of this dividend is Friday, September 13th. This is a positive change from NewMarket’s previous quarterly dividend of $1.75.

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

NewMarket stock traded down $1.43 during mid-day trading on Wednesday, reaching $454.85. 21,429 shares of the company traded hands, compared to its average volume of 71,723. The company has a debt-to-equity ratio of 1.22, a current ratio of 2.93 and a quick ratio of 1.60. The firm’s 50 day moving average price is $457.90 and its 200 day moving average price is $428.85. The firm has a market capitalization of $5.11 billion, a price-to-earnings ratio of 22.36 and a beta of 0.46. NewMarket has a 52-week low of $352.89 and a 52-week high of $489.11.

NewMarket (NYSE:NEU) last posted its earnings results on Wednesday, July 31st. The specialty chemicals company reported $6.63 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $5.16 by $1.47. NewMarket had a net margin of 11.70% and a return on equity of 47.25%. The firm had revenue of $563.42 million during the quarter. On average, sell-side analysts anticipate that NewMarket will post 23.63 EPS for the current year.

Several analysts have weighed in on the company. Zacks Investment Research raised NewMarket from a “hold” rating to a “strong-buy” rating and set a $512.00 price objective on the stock in a research report on Friday, August 9th. Buckingham Research upgraded NewMarket from an “underperform” rating to a “neutral” rating and set a $420.00 target price on the stock 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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