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

NewMarket Co. (NYSE:NEU) announced its quarterly dividend on Thursday, October 24th. Shareholders registered as of Monday, December 16th will receive a dividend of $2.50 per share. This payment is set to be distributed on Thursday, January 2nd. The annualized dividend totals $10.00, resulting in a dividend yield of 1.86%. The ex-dividend date for this distribution is also Monday, December 16th.

Over the past three years, NewMarket has raised its dividend by an average of 5.2% each year, showcasing a consistent commitment to returning value to its shareholders. Additionally, the company has increased its dividend for six consecutive years.

NewMarket's Market Performance

During trading on Friday, shares of NEU saw a slight decrease of 0.3%, dropping $1.75 to reach a price of $538.64. The trading volume for the day was 26,587 shares, which is below the daily average of 36,423. NewMarket has a market capitalization of approximately $5.17 billion and an earnings per share (P/E) ratio of 12.96. The stock has a beta of 0.49, indicating lower volatility compared to the broader market. Its 50-day moving average stands at $545.66, while the 200-day moving average is $545.46. The company's quick ratio is 1.48, the current ratio is 2.66, and its debt-to-equity ratio is 0.95. Notably, NewMarket's shares have seen a 52-week low of $451.01 and a high of $650.00.

On October 23rd, NewMarket reported its quarterly earnings, disclosing an EPS of $13.79 for the quarter, with revenues totaling $724.95 million. The company achieved a return on equity of 37.06% alongside a net margin of 15.12%.

Insider Transactions

In related news, Chief Accounting Officer Bruce R. Hazelgrove III recently sold 1,270 shares of NewMarket stock on August 9th. The shares were sold at an average price of $544.31, totaling about $691,273.70. Following this transaction, Hazelgrove now holds 358 shares worth approximately $194,862.98. This sale resulted in a minimal change of 0.00% in his position. The transaction was officially disclosed in a filing with the SEC.

Analytical Ratings

Various analysts have recently reassessed their ratings for NewMarket. Notably, StockNews.com upgraded the stock's rating from a "buy" to a "strong-buy" on August 6th, reflecting positive sentiment for the company's future performance.

Company Overview

NewMarket Corporation, through its diverse subsidiaries, primarily operates in the manufacturing and sale of petroleum additives. The company's product range includes lubricant additives for vehicles and industrial uses. These additives serve various applications such as engine oils, transmission fluids, and hydraulic systems, among many others. NewMarket is dedicated to enhancing the performance of products across numerous industry sectors.

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