Zacks: NewMarket Co. (NYSE:NEU) Receives Average Rating of “Hold” from Analysts

Shares of NewMarket Co. (NYSE:NEU) have received a consensus broker rating score of 3.00 (Hold) from the one brokers that cover the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold rating. NewMarket’s rating score has improved by 40% from three months ago as a result of various analysts’ upgrades and downgrades.

Brokers have set a 1 year consensus price objective of $420.00 for the company, according to Zacks. Zacks has also given NewMarket an industry rank of 201 out of 256 based on the ratings given to related companies.

Separately, Buckingham Research raised shares of NewMarket from an “underperform” rating to a “neutral” rating and set a $420.00 price objective for the company in a report on Friday, August 2nd.

Large investors have recently made changes to their positions in the business. O Shaughnessy Asset Management LLC bought a new stake in shares of NewMarket during the 1st quarter worth $26,000. Steward Partners Investment Advisory LLC bought a new stake in shares of NewMarket during the 2nd quarter worth $41,000. Ellis Investment Partners LLC bought a new stake in shares of NewMarket during the 1st quarter worth $46,000. Contravisory Investment Management Inc. bought a new stake in shares of NewMarket during the 1st quarter worth $117,000. Finally, BNP Paribas Arbitrage SA lifted its holdings in shares of NewMarket by 74.7% during the 1st quarter. BNP Paribas Arbitrage SA now owns 290 shares of the specialty chemicals company’s stock worth $126,000 after acquiring an additional 124 shares during the last quarter. 54.73% of the stock is owned by hedge funds and other institutional investors.

NEU traded up $0.10 on Friday, hitting $445.00. The company’s stock had a trading volume of 95,104 shares, compared to its average volume of 73,129. The stock’s 50 day simple moving average is $413.41. The stock has a market cap of $5.02 billion, a price-to-earnings ratio of 21.88 and a beta of 0.52. NewMarket has a 12 month low of $352.89 and a 12 month high of $470.98. The company has a current ratio of 2.93, a quick ratio of 1.60 and a debt-to-equity ratio of 1.22.

NewMarket (NYSE:NEU) last released its quarterly earnings data on Wednesday, July 31st. The specialty chemicals company reported $6.63 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $5.16 by $1.47. The company had revenue of $563.42 million during the quarter. NewMarket had a net margin of 11.70% and a return on equity of 47.25%. Research analysts anticipate that NewMarket will post 21.41 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 16th will be issued a $1.90 dividend. This represents a $7.60 annualized dividend and a yield of 1.71%. This is an increase from NewMarket’s previous quarterly dividend of $1.75. The ex-dividend date is Friday, September 13th. NewMarket’s dividend payout ratio (DPR) is presently 34.41%.

NewMarket Company Profile

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.

Further Reading: Ex-Dividend

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