NewMarket Corporation (NYSE:NEU) to Issue $3.00 Quarterly Dividend

Key Points

• NewMarket Corporation announced a $3.00 quarterly dividend payable July 1 to shareholders of record on June 15 (ex-dividend date June 15), implying an annualized yield of about 1.8%. The company has raised its dividend for seven consecutive years but averaged only ~0.1% annual dividend growth over the past three years.
• Recent results and valuation: NewMarket reported quarterly EPS of $12.62 on revenue of $669.72 million, with a 24.26% return on equity and a 15.25% net margin, and the stock trades with a market cap of $6.41 billion and a P/E of 15.58.

NewMarket Corporation (NYSE:NEU - Get Free Report) announced a quarterly dividend on Thursday, April 23rd. Stockholders of record on Monday, June 15th will be paid a dividend of 3.00 per share by the specialty chemicals company on Wednesday, July 1st. This represents a c) dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Monday, June 15th.

NewMarket has increased its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 7 consecutive years.

NewMarket Price Performance

NEU stock opened at $682.28 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.53 and a quick ratio of 1.33. NewMarket has a 1 year low of $574.71 and a 1 year high of $875.97. The firm has a 50-day moving average of $625.79 and a 200 day moving average of $696.03. The company has a market cap of $6.41 billion, a P/E ratio of 15.58 and a beta of 0.48.

NewMarket (NYSE:NEU - Get Free Report) last posted its quarterly earnings data on Wednesday, April 22nd. The specialty chemicals company reported $12.62 earnings per share for the quarter. NewMarket had a return on equity of 24.26% and a net margin of 15.25%.The business had revenue of $669.72 million for the quarter.

Insider Transactions at NewMarket

In related news, Director Ting Xu acquired 400 shares of the stock in a transaction on Tuesday, February 24th. The stock was acquired at an average price of $619.21 per share, for a total transaction of $247,684.00. Following the completion of the purchase, the director owned 929 shares of the company's stock, valued at $575,246.09. This represents a 75.61% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 8.60% of the company's stock.

Hedge Funds Weigh In On NewMarket

Hedge funds have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of NewMarket by 100.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78 shares of the specialty chemicals company's stock valued at $44,000 after buying an additional 39 shares during the last quarter. NewEdge Advisors LLC lifted its holdings in shares of NewMarket by 1,442.4% during the first quarter. NewEdge Advisors LLC now owns 509 shares of the specialty chemicals company's stock valued at $288,000 after purchasing an additional 476 shares in the last quarter. United Services Automobile Association purchased a new stake in shares of NewMarket during the first quarter valued at $266,000. Empowered Funds LLC lifted its holdings in shares of NewMarket by 4.8% during the 1st quarter. Empowered Funds LLC now owns 1,562 shares of the specialty chemicals company's stock valued at $885,000 after buying an additional 72 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of NewMarket by 9.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 22,268 shares of the specialty chemicals company's stock worth $12,614,000 after acquiring an additional 1,995 shares during the period. Institutional investors own 61.09% of the company's stock.

About NewMarket

NewMarket Corporation is a specialty chemicals and lubricants company headquartered in Richmond, Virginia. Through its Valvoline business, the company markets a broad portfolio of automotive aftermarket products, including engine oils, transmission fluids, greases and vehicle care solutions. Valvoline products are distributed through retail and commercial channels as well as a network of quick-lube service centers that provide oil changes, preventive maintenance and related services.

In its chemical additives segment, NewMarket develops, manufactures and sells performance additives for fuels, lubricants and industrial fluids.

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