NewMarket Co. (NYSE:NEU) Plans $2.10 Quarterly Dividend

NewMarket Co. (NYSE:NEUGet Rating) announced a quarterly dividend on Thursday, August 4th, Zacks reports. Shareholders of record on Thursday, September 15th will be paid a dividend of 2.10 per share by the specialty chemicals company on Monday, October 3rd. This represents a $8.40 annualized dividend and a yield of 2.80%. The ex-dividend date is Wednesday, September 14th.

NewMarket has a dividend payout ratio of 30.2% meaning its dividend is sufficiently covered by earnings.

NewMarket Stock Down 0.5 %

NYSE NEU opened at $300.30 on Friday. The company has a 50 day moving average of $306.13 and a 200-day moving average of $319.66. The company has a market cap of $3.01 billion, a price-to-earnings ratio of 16.02 and a beta of 0.36. The company has a current ratio of 2.60, a quick ratio of 1.43 and a debt-to-equity ratio of 1.26. NewMarket has a 1-year low of $285.60 and a 1-year high of $378.63.

Institutional Trading of NewMarket

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. First Trust Advisors LP grew its stake in shares of NewMarket by 23.9% in the first quarter. First Trust Advisors LP now owns 288,937 shares of the specialty chemicals company’s stock worth $93,725,000 after purchasing an additional 55,691 shares during the last quarter. State Street Corp grew its stake in shares of NewMarket by 2.9% in the first quarter. State Street Corp now owns 204,125 shares of the specialty chemicals company’s stock worth $66,638,000 after purchasing an additional 5,847 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of NewMarket by 0.7% in the first quarter. Bank of New York Mellon Corp now owns 105,010 shares of the specialty chemicals company’s stock worth $34,063,000 after purchasing an additional 700 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of NewMarket by 6.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 65,980 shares of the specialty chemicals company’s stock worth $21,403,000 after purchasing an additional 4,095 shares during the last quarter. Finally, Rhumbline Advisers grew its stake in shares of NewMarket by 1.0% in the first quarter. Rhumbline Advisers now owns 24,179 shares of the specialty chemicals company’s stock worth $7,843,000 after purchasing an additional 243 shares during the last quarter. Institutional investors own 54.72% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of NewMarket from a “buy” rating to a “strong-buy” rating in a research note on Thursday.

NewMarket Company Profile

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NewMarket Corporation, through its subsidiaries, engages in the petroleum additives business. 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, and other applications where metal-to-metal moving parts are utilized; engine oil additives designed for passenger cars, motorcycles, on and off-road heavy duty commercial equipment, locomotives, and engines in ocean-going vessels; driveline additives designed for products, such as transmission fluids, axle fluids, and off-road powertrain fluids; and industrial additives designed for products for industrial applications consisting of hydraulic fluids, grease, industrial gear fluids, and industrial specialty applications, such as turbine oils.

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Dividend History for NewMarket (NYSE:NEU)

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