NewMarket Corporation (NEU) reported quarterly earnings results on Wednesday, Apr-27-2016. The company said it had a profit of $5.42 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.56. Analysts had a consensus of $4.86. The company posted revenue of $509.90 million in the period, compared to analysts expectations of $525.03 million. The company’s revenue was down -8.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.26 EPS.
Many Wall Street Analysts have commented on NewMarket Corporation. NewMarket Corporation was Upgraded by Longbow to ” Buy” on Mar 10, 2016.
NewMarket Corporation opened for trading at $400.88 and hit $407.8 on the upside on Friday, eventually ending the session at $406.97, with a gain of 1.51% or 6.06 points. The heightened volatility saw the trading volume jump to 30,544 shares. Company has a market cap of $4,822 M.
In a different news, on Nov 19, 2015, Robert A. Shama (President Afton Chemical Corp) sold 274 shares at $400.76 per share price. According to the SEC, on Apr 28, 2015, Bruce R Iii Hazelgrove (Vice President & CAO) sold 400 shares at $463.50 per share price. On Feb 27, 2015, Thomas E Gottwald (Chairman, President & CEO) sold 10,000 shares at $472.45 per share price, according to the Form-4 filing with the securities and exchange commission.
NewMarket Corporation (NewMarket) is a holding company and is the parent company of Afton Chemical Corporation (Afton) Ethyl Corporation (Ethyl) NewMarket Services Corporation (NewMarket Services) and NewMarket Development Corporation (NewMarket Development). Each of its the Company’s subsidiaries manages its own assets and liabilities. Afton encompasses the petroleum additives business while Ethyl represents the sale of tetraethyl lead (TEL) in North America and certain petroleum additives manufacturing operations. NewMarket Development manages the property that it owns in Virginia. NewMarket Services provides various administrative services to NewMarket Afton Ethyl and NewMarket Development. The Company’s business consists of one segment petroleum additives which is primarily represented by Afton. The TEL business of Ethyl is reflected in the ‘All other’ category. The ‘All Other’ also includes contract manufacturing performed by Ethyl.