NewMarket Co. (NYSE:NEU) Declares Quarterly Dividend of $2.50

NewMarket Co. (NYSE:NEU) has recently declared its quarterly dividend on October 24th. Shareholders who are on record as of Monday, December 16th, will receive a dividend of $2.50 per share. This payment will be made on Thursday, January 2nd. When annualized, this dividend amounts to $10.00, resulting in a dividend yield of 1.86%. It is important to note that the ex-dividend date is also set for Monday, December 16th.

Over the past three years, NewMarket has raised its dividend by an average of 5.2% each year. Additionally, the company has maintained a track record of increasing its dividend annually for six consecutive years.

Market Activity

On Friday, shares of NewMarket (NEU) saw a slight decline, trading down by 0.3%, which translates to a decrease of $1.75 in price. This brought the stock price to $538.64 during the trading hours. The trading volume for the day was 26,587 shares, compared to the average volume of 36,423 shares. NewMarket holds a market capitalization of $5.17 billion, with a price-to-earnings (P/E) ratio of 12.96 and a beta of 0.49. The stock's moving average price over the last 50 days is $545.66, while its 200-day moving average price is $545.46. Furthermore, the company has a quick ratio of 1.48, a current ratio of 2.66, and a debt-to-equity ratio of 0.95. The stock has fluctuated between a 52-week low of $451.01 and a high of $650.00.

NewMarket released its latest quarterly earnings on October 23rd, announcing an earnings per share (EPS) of $13.79. The company reported revenue of $724.95 million for the quarter. Additionally, the return on equity stood at 37.06%, and the net profit margin was recorded at 15.12%.

Insider Transactions

In other developments related to NewMarket, Chief Accounting Officer Bruce R. Hazelgrove III sold 1,270 shares of the company's stock on August 9th at an average price of $544.31, amounting to a total of $691,273.70. After this transaction, Hazelgrove owns 358 shares of NewMarket, estimated to be around $194,862.98. This sale reflects a negligible change of 0.00% in his overall ownership. The details of this transaction were reported in a legal filing with the SEC, which can be accessed for further information. Company insiders currently own approximately 20.40% of the stock.

Analyst Ratings

In related news, on August 6th, StockNews.com upgraded NewMarket from a 'buy' rating to a 'strong-buy' rating in a recent report.

NewMarket Overview

NewMarket Corporation, along with its subsidiaries, focuses on the manufacturing and sale of petroleum additives. Their products include lubrication additives used across various vehicle and industrial applications, such as engine oils, transmission fluids, hydraulic systems, and other metal-to-metal applications. They also provide engine oil additives for different vehicles, driveline additives, and industrial additives for hydraulic fluids and other specialized applications.

Dividend, Market, Earnings