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

NewMarket Co. (NYSE:NEUGet Rating) declared a quarterly dividend on Thursday, August 4th, Zacks reports. Investors 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 of this dividend is Wednesday, September 14th.

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

NewMarket Stock Performance

Shares of NEU stock opened at $300.30 on Friday. The stock’s 50-day moving average price is $306.13 and its 200 day moving average price is $319.66. The company has a quick ratio of 1.43, a current ratio of 2.60 and a debt-to-equity ratio of 1.26. The stock has a market capitalization of $3.01 billion, a PE ratio of 16.02 and a beta of 0.36. NewMarket has a 52-week low of $285.60 and a 52-week high of $378.63.

Analyst Upgrades and Downgrades

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

Institutional Trading of NewMarket

A number of large investors have recently added to or reduced their stakes in NEU. Covestor Ltd grew its holdings in shares of NewMarket by 69.6% during the first quarter. Covestor Ltd now owns 570 shares of the specialty chemicals company’s stock valued at $185,000 after buying an additional 234 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of NewMarket during the first quarter valued at $252,000. Dakota Wealth Management purchased a new position in shares of NewMarket during the first quarter valued at $322,000. Advisors Asset Management Inc. grew its holdings in shares of NewMarket by 24.0% during the first quarter. Advisors Asset Management Inc. now owns 1,418 shares of the specialty chemicals company’s stock valued at $460,000 after buying an additional 274 shares in the last quarter. Finally, Jane Street Group LLC purchased a new position in shares of NewMarket during the first quarter valued at $731,000. 54.72% of the stock is currently owned by institutional investors.

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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