Zacks: NewMarket Corporation (NYSE:NEU) Given Average Rating of “Hold” by Analysts
Shares of NewMarket Corporation (NYSE:NEU) have been given a consensus broker rating score of 3.00 (Hold) from the one brokers that cover the stock, Zacks Investment Research reports. One analyst has rated the stock with a hold rating.
Zacks has also given NewMarket Corporation an industry rank of 119 out of 265 based on the ratings given to related companies.
Separately, BidaskClub lowered NewMarket Corporation from a “buy” rating to a “hold” rating in a report on Saturday, June 24th.
In other NewMarket Corporation news, insider Robert A. Shama sold 230 shares of the company’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $458.60, for a total value of $105,478.00. Following the sale, the insider now owns 1,850 shares of the company’s stock, valued at $848,410. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 16.83% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the stock. Oregon Public Employees Retirement Fund raised its stake in NewMarket Corporation by 5.4% in the second quarter. Oregon Public Employees Retirement Fund now owns 3,653 shares of the specialty chemicals company’s stock valued at $1,682,000 after buying an additional 188 shares during the period. OLD National Bancorp IN raised its stake in NewMarket Corporation by 9.3% in the second quarter. OLD National Bancorp IN now owns 808 shares of the specialty chemicals company’s stock valued at $372,000 after buying an additional 69 shares during the period. Pennsylvania Trust Co purchased a new stake in NewMarket Corporation during the second quarter valued at $4,522,000. Bank of Montreal Can raised its stake in NewMarket Corporation by 0.9% in the second quarter. Bank of Montreal Can now owns 1,123 shares of the specialty chemicals company’s stock valued at $518,000 after buying an additional 10 shares during the period. Finally, Capstone Asset Management Co. raised its stake in NewMarket Corporation by 3.0% in the second quarter. Capstone Asset Management Co. now owns 1,222 shares of the specialty chemicals company’s stock valued at $563,000 after buying an additional 36 shares during the period. 56.13% of the stock is currently owned by institutional investors.
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Shares of NewMarket Corporation (NEU) opened at 460.64 on Tuesday. The firm has a market cap of $5.46 billion, a PE ratio of 22.24 and a beta of 0.75. The company has a 50-day moving average of $464.47 and a 200-day moving average of $447.23. NewMarket Corporation has a 1-year low of $386.90 and a 1-year high of $483.86.
NewMarket Corporation (NYSE:NEU) last posted its earnings results on Wednesday, April 26th. The specialty chemicals company reported $5.39 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $4.04 by $1.35. The company had revenue of $542.80 million for the quarter, compared to analyst estimates of $509 million. NewMarket Corporation had a return on equity of 51.17% and a net margin of 11.79%. NewMarket Corporation’s revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $5.42 earnings per share. Analysts predict that NewMarket Corporation will post $20.56 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, July 3rd. Shareholders of record on Thursday, June 15th were issued a $1.75 dividend. This represents a $7.00 annualized dividend and a yield of 1.52%. The ex-dividend date of this dividend was Tuesday, June 13th. NewMarket Corporation’s dividend payout ratio (DPR) is 33.80%.
NewMarket Corporation Company Profile
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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