NewMarket Co. (NYSE:NEU) Increases Dividend to $1.90 Per Share

NewMarket Co. (NYSE:NEU) announced a quarterly dividend on Thursday, August 1st, Zacks reports. Stockholders of record on Monday, September 16th will be paid a dividend of 1.90 per share by the specialty chemicals company on Tuesday, October 1st. This represents a $7.60 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date is Friday, September 13th. This is a positive change from NewMarket’s previous quarterly dividend of $1.75.

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

Shares of NYSE NEU traded down $2.78 during mid-day trading on Wednesday, hitting $453.50. The stock had a trading volume of 1,376 shares, compared to its average volume of 71,723. The firm has a market cap of $5.11 billion, a PE ratio of 22.33 and a beta of 0.46. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.60 and a current ratio of 2.93. The company has a 50 day moving average of $457.90 and a two-hundred day moving average of $428.85. NewMarket has a twelve month low of $352.89 and a twelve month high of $489.11.

NewMarket (NYSE:NEU) last issued its quarterly earnings results on Wednesday, July 31st. The specialty chemicals company reported $6.63 EPS for the quarter, topping the Zacks’ consensus estimate of $5.16 by $1.47. The company had revenue of $563.42 million during the quarter. NewMarket had a return on equity of 47.25% and a net margin of 11.70%. Equities research analysts predict that NewMarket will post 23.63 EPS for the current fiscal year.

NEU has been the subject of several research analyst reports. Buckingham Research upgraded NewMarket from an “underperform” rating to a “neutral” rating and set a $420.00 price objective for the company in a research note on Friday, August 2nd. Zacks Investment Research upgraded NewMarket from a “hold” rating to a “strong-buy” rating and set a $512.00 target price on the stock in a research report on Friday, August 9th.

About NewMarket

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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