Zacks: NewMarket Corporation (NEU) Receives Consensus Rating of “Hold” from Analysts
Shares of NewMarket Corporation (NYSE:NEU) have been given an average broker rating score of 3.00 (Hold) from the one brokers that cover the company, Zacks Investment Research reports. One investment analyst has rated the stock with a hold rating.
Zacks has also given NewMarket Corporation an industry rank of 89 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 report on Saturday, June 24th.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. YorkBridge Wealth Partners LLC increased its stake in NewMarket Corporation by 1.4% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 286 shares of the specialty chemicals company’s stock worth $131,000 after purchasing an additional 4 shares during the period. US Bancorp DE increased its stake in NewMarket Corporation by 2.5% in the 1st quarter. US Bancorp DE now owns 245 shares of the specialty chemicals company’s stock worth $111,000 after purchasing an additional 6 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in NewMarket Corporation by 1.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 611 shares of the specialty chemicals company’s stock worth $281,000 after purchasing an additional 6 shares during the period. Bank of Montreal Can increased its stake in NewMarket Corporation by 0.9% in the 2nd quarter. Bank of Montreal Can now owns 1,123 shares of the specialty chemicals company’s stock worth $518,000 after purchasing an additional 10 shares during the period. Finally, World Asset Management Inc increased its stake in NewMarket Corporation by 2.0% in the 2nd quarter. World Asset Management Inc now owns 619 shares of the specialty chemicals company’s stock worth $285,000 after purchasing an additional 12 shares during the period. 55.33% of the stock is currently owned by institutional investors.
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Shares of NewMarket Corporation (NYSE:NEU) traded up 0.45% on Tuesday, reaching $430.04. The company’s stock had a trading volume of 15,313 shares. The firm’s 50-day moving average price is $423.50 and its 200-day moving average price is $448.01. NewMarket Corporation has a 12 month low of $386.90 and a 12 month high of $483.86. The stock has a market cap of $5.10 billion, a P/E ratio of 20.90 and a beta of 0.75.
NewMarket Corporation (NYSE:NEU) last announced its quarterly earnings data on Wednesday, August 2nd. The specialty chemicals company reported $5.29 earnings per share for the quarter, missing the Zacks’ consensus estimate of $5.73 by ($0.44). The firm had revenue of $547.20 million for the quarter, compared to analysts’ expectations of $570.10 million. NewMarket Corporation had a net margin of 11.57% and a return on equity of 46.94%. The business’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the business posted $5.50 earnings per share. On average, analysts forecast that NewMarket Corporation will post $20.23 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Friday, September 15th were issued a dividend of $1.75 per share. The ex-dividend date was Thursday, September 14th. This represents a $7.00 dividend on an annualized basis and a dividend yield of 1.63%. NewMarket Corporation’s dividend payout ratio is 34.03%.
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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