NewMarket Co. (NYSE:NEU) Announces Dividend Increase – $2.75 Per Share

NewMarket Co. (NYSE:NEU) declared a quarterly dividend on Thursday, February 27th, RTT News reports. Shareholders of record on Monday, March 17th will be given a dividend of 2.75 per share by the specialty chemicals company on Tuesday, April 1st. This represents a $11.00 dividend on an annualized basis and a yield of 1.95%. This is a boost from NewMarket’s previous quarterly dividend of $2.50.

NewMarket has raised its dividend by an average of 7.7% annually over the last three years.

NewMarket Price Performance

NEU stock opened at $563.14 on Friday. NewMarket has a 1 year low of $480.00 and a 1 year high of $650.00. The firm has a market capitalization of $5.36 billion, a PE ratio of 11.68 and a beta of 0.48. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.75 and a quick ratio of 1.40. The business has a 50 day simple moving average of $517.89 and a 200-day simple moving average of $534.75.

NewMarket (NYSE:NEU) last issued its earnings results on Monday, February 3rd. The specialty chemicals company reported $11.56 earnings per share (EPS) for the quarter. NewMarket had a return on equity of 35.48% and a net margin of 16.59%.

Analysts Set New Price Targets

Separately, StockNews.com lowered NewMarket from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 19th.

NewMarket Company Profile

NewMarket Corporation, through its subsidiaries, primarily engages in the manufacture and sale of petroleum additives. 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.