NewMarket (NYSE:NEU) Upgraded to Neutral at Buckingham Research

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Buckingham Research upgraded shares of NewMarket (NYSE:NEU) from an underperform rating to a neutral rating in a report released on Friday, Briefing.com Automated Import reports.

Shares of NEU opened at $444.97 on Friday. The company has a quick ratio of 1.77, a current ratio of 2.93 and a debt-to-equity ratio of 1.22. The firm has a market cap of $4.92 billion, a PE ratio of 21.88 and a beta of 0.52. The firm has a fifty day moving average price of $412.58. NewMarket has a 1 year low of $352.89 and a 1 year high of $470.98.

NewMarket (NYSE:NEU) last announced its quarterly earnings data on Wednesday, July 31st. The specialty chemicals company reported $6.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.16 by $1.47. The company had revenue of $563.42 million for the quarter. NewMarket had a net margin of 11.70% and a return on equity of 47.25%. On average, sell-side analysts anticipate that NewMarket will post 21.41 EPS for the current fiscal year.

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

A number of institutional investors and hedge funds have recently made changes to their positions in NEU. Dimensional Fund Advisors LP increased its holdings in shares of NewMarket by 5.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 95,846 shares of the specialty chemicals company’s stock worth $39,495,000 after buying an additional 4,644 shares during the last quarter. Thrivent Financial for Lutherans increased its holdings in shares of NewMarket by 2.6% in the 4th quarter. Thrivent Financial for Lutherans now owns 2,267 shares of the specialty chemicals company’s stock worth $934,000 after buying an additional 58 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of NewMarket by 0.3% in the 4th quarter. Legal & General Group Plc now owns 12,218 shares of the specialty chemicals company’s stock worth $5,035,000 after buying an additional 34 shares during the last quarter. Amalgamated Bank increased its holdings in shares of NewMarket by 54.9% in the 4th quarter. Amalgamated Bank now owns 1,843 shares of the specialty chemicals company’s stock worth $759,000 after buying an additional 653 shares during the last quarter. Finally, FMR LLC increased its holdings in shares of NewMarket by 11.3% in the 4th quarter. FMR LLC now owns 26,170 shares of the specialty chemicals company’s stock worth $10,784,000 after buying an additional 2,661 shares during the last quarter. 54.73% of the stock is currently owned by institutional investors.

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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