NewMarket Co. Announces Quarterly Dividend of $2.50

NewMarket Co. (NYSE:NEU) declared its quarterly dividend on Thursday, October 24th. Shareholders who are on record by Monday, December 16th will receive a dividend payment of $2.50 per share. This payment will be distributed on Thursday, January 2nd. With this announcement, NewMarket is set to provide an annualized dividend of $10.00, translating to a dividend yield of 1.86%. The ex-dividend date is specified as Monday, December 16th.

The company has shown a consistent track record in increasing its dividend, averaging a growth of 5.2% per year over the past three years. Furthermore, NewMarket has consistently raised its dividend for the last six consecutive years, demonstrating its commitment to returning value to shareholders.

Latest Trading Activity

As of Friday's trading session, NewMarket shares decreased by 0.3%, with the share price reaching $538.64. The volume of shares traded was 26,587, which is lower than the average trading volume of 36,423 shares. NewMarket has a market capitalization of $5.17 billion and a price-to-earnings (P/E) ratio of 12.96. The stock has a beta of 0.49, indicating lower volatility compared to the market. The 50-day moving average price stands at $545.66, while the 200-day moving average price is slightly lower at $545.46. Financially, the company maintains a quick ratio of 1.48 and a current ratio of 2.66, showcasing a sound liquidity position. Its debt-to-equity ratio stands at 0.95, indicating a balanced approach to leveraging. Over the past year, NewMarket’s stock has seen a low of $451.01 and a high of $650.00.

NewMarket also released its quarterly earnings report on October 23rd, where it revealed an earnings per share (EPS) of $13.79 for the quarter, along with revenue amounting to $724.95 million. The company reported a robust return on equity of 37.06%, accompanied by a net margin of 15.12%, reflecting its efficient management and profitability.

Insider Transactions

In other news related to the company, Bruce R. Hazelgrove III, the Chief Accounting Officer (CAO), sold 1,270 shares of NewMarket stock in a transaction that took place on August 9th. The shares were sold at an average price of $544.31, totaling approximately $691,273.70. Post-transaction, Hazelgrove retains ownership of 358 shares, valued around $194,862.98, marking a negligible change to his holdings. This transaction has been publicly disclosed through SEC filings. Notably, insiders currently own around 20.40% of NewMarket's stock.

Analyst Recommendations

Additionally, analysts have provided updated outlooks on NewMarket, with StockNews.com recently upgrading the stock from a "buy" to a "strong-buy" rating as of August 6th.

About NewMarket Corporation

NewMarket Corporation operates primarily in the specialty chemicals sector, focusing on the manufacture and sale of petroleum additives through its subsidiaries. The company offers a diverse range of lubricant additives applicable in various industries, including engine oils, hydraulic systems, and transmission fluids, to name a few.

Conclusion

Given NewMarket's consistent performance, dividend history, and positive analyst outlooks, it continues to be a point of interest for investors seeking stability and income through dividend payments.

dividend, earnings, stocks