NewMarket Co. Declares Quarterly Dividend of $2.50

NewMarket Co. (NYSE:NEU) has announced a quarterly dividend of $2.50 per share, as reported on Thursday, October 24. Shareholders who are on record by Monday, December 16, will receive this dividend on Thursday, January 2. The annualized amount totals $10.00, providing a dividend yield of 1.86%. The ex-dividend date is set for December 16, meaning that investors need to own the stock before this date to qualify for the upcoming dividend.

Over the past three years, NewMarket has consistently increased its dividend by an average of 5.2% each year. Additionally, it has grown its dividend annually for six consecutive years, demonstrating a commitment to returning value to its shareholders.

Recent Stock Performance

On Friday, shares of NewMarket were trading down 0.3%, decreasing by $1.75 to a price of $538.64 per share. The trading volume reached 26,587 shares, which is lower than the average 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’s 50-day moving average is $545.66, while its 200-day moving average stands at $545.46. The company shows a quick ratio of 1.48, a current ratio of 2.66, and a debt-to-equity ratio of 0.95. Throughout the past year, the stock has seen a low of $451.01 and a high of $650.00.

NewMarket recently disclosed its quarterly earnings results on October 23, reporting earnings per share (EPS) of $13.79 and revenue totaling $724.95 million for the quarter. The company showcased a return on equity (ROE) of 37.06% and a net profit margin of 15.12%, highlighting the strength of its financial performance.

Insider Trading

In other news, CAO Bruce R. Hazelgrove III sold 1,270 shares of NewMarket stock on August 9 at an average price of $544.31, resulting in a total transaction value of approximately $691,273.70. Following this sale, he now holds 358 shares valued at about $194,862.98, indicating a 0.00% decrease in his ownership position. This transaction was documented in a legal filing with the SEC. Notably, insiders currently own 20.40% of the company’s stock.

Analyst Ratings

In recent updates concerning analysts’ ratings, StockNews.com upgraded NewMarket's rating from “buy” to “strong-buy” on August 6, indicating increased confidence in the company's future performance.

About NewMarket

NewMarket Corporation, through its various subsidiaries, primarily focuses on the manufacturing and sale of petroleum additives. The company's product lines include lubricant additives used in various engines and industrial applications. These products are designed for diverse vehicle types, including passenger cars, motorcycles, and heavy-duty commercial equipment, as well as industrial applications such as hydraulic fluids and grease.

Dividend, Stockholders, Earnings