Zacks: NewMarket Corporation (NEU) Receives Consensus Rating of “Hold” from Brokerages
NewMarket Corporation (NYSE:NEU) has received a consensus broker rating score of 3.00 (Hold) from the one analysts that cover the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a hold recommendation.
Zacks has also assigned NewMarket Corporation an industry rank of 162 out of 265 based on the ratings given to its competitors.
Separately, BidaskClub cut NewMarket Corporation from a “buy” rating to a “hold” rating in a research note on Saturday, June 24th.
Shares of NewMarket Corporation (NYSE NEU) traded up 1.25% during midday trading on Friday, reaching $417.81. The company had a trading volume of 31,116 shares. The company’s 50 day moving average price is $433.82 and its 200-day moving average price is $450.60. NewMarket Corporation has a 52 week low of $386.90 and a 52 week high of $483.86. The company has a market capitalization of $4.95 billion, a P/E ratio of 20.31 and a beta of 0.75.
NewMarket Corporation (NYSE:NEU) last released its earnings results on Wednesday, August 2nd. The specialty chemicals company reported $5.29 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $5.73 by $0.44. NewMarket Corporation had a return on equity of 46.94% and a net margin of 11.57%. The company had revenue of $547.20 million for the quarter, compared to analyst estimates of $570.10 million. During the same period in the previous year, the firm earned $5.50 earnings per share. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, equities research analysts predict that NewMarket Corporation will post $20.23 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 15th will be paid a dividend of $1.75 per share. The ex-dividend date is Thursday, September 14th. This represents a $7.00 annualized dividend and a yield of 1.68%. NewMarket Corporation’s payout ratio is 34.03%.
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A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Intl Fcstone Inc. acquired a new position in NewMarket Corporation during the 2nd quarter worth $332,000. Public Employees Retirement System of Ohio grew its stake in NewMarket Corporation by 5.0% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 3,227 shares of the specialty chemicals company’s stock worth $1,486,000 after purchasing an additional 153 shares in the last quarter. Ameritas Investment Partners Inc. grew its stake in NewMarket Corporation by 1.5% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,767 shares of the specialty chemicals company’s stock worth $1,274,000 after purchasing an additional 42 shares in the last quarter. Nomura Holdings Inc. acquired a new position in NewMarket Corporation during the 2nd quarter worth $309,000. Finally, The Manufacturers Life Insurance Company grew its stake in NewMarket Corporation by 1.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,683 shares of the specialty chemicals company’s stock worth $6,301,000 after purchasing an additional 233 shares in the last quarter. 55.52% of the stock is owned by hedge funds and other institutional investors.
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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