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Last $460.08 USD
Change Today +2.11 / 0.46%
Volume 22.9K
As of 8:04 PM 04/17/15 All times are local (Market data is delayed by at least 15 minutes).

newmarket corp (NEU) Key Developments

NewMarket Corporation Approves an Amendment to the Bylaws

NewMarket Corporation announced that on February 26, 2015, the Board of Directors approved an amendment to Section II, Part 2 of the Bylaws of the company, which became effective immediately. The Bylaw amendment decreases the size of the Board of Directors from seven to six directors.

NewMarket Corporation Declares Dividend, Payable on April 1, 2015; Announces Board Changes

On February 26, 2015, NewMarket Corporation reported that the company's Board of Directors had declared a dividend of $1.40 per share of the company's common stock, payable on April 1, 2015 to the company's shareholders of record as of March 16, 2015. On February 26, 2015, the Board of Directors appointed James E. Rogers to serve as Lead Director and Patrick D. Hanley to serve as Chairman of the Audit Committee. Mr. Rogers and Mr. Hanley succeed Mr. Charles B. Walker, who passed away on February 16, 2015, in these roles. Additionally, the Board of Directors reduced the size of the board from seven to six, appointed Phyllis L. Cothran to serve as Chairman of the Compensation Committee and appointed Mark M. Gambill to serve as Chairman of the Nominating and Corporate Governance Committee. Mr. Rogers and Mr. Hanley previously served as Chairman of the Compensation Committee and as Chairman of the Nominating and Corporate Governance Committee respectively. All such appointments and changes are effective immediately.

Newmarket Corporation Provides Capital Expenditures Guidance for the Year 2015

NewMarket Corporation provided capital expenditures guidance for the year 2015. For 2015, the company expects to see an increase in the capital expenditures to approximately $140 million range.

NewMarket Mulls Acquisition

NewMarket Corporation (NYSE:NEU) states, "We continue our efforts to investigate potential acquisitions as both a use of cash and to generate shareholder value. Our primary focus in the acquisition area remains in the petroleum additives industry.”

NewMarket Corporation Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014

NewMarket Corporation reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported net income of $52,055,000 or $4.17 per basic and diluted share on net sales of $548,878,000 against net income of $54,001,000 or $4.08 per basic and diluted share on net sales of $556,371,000 a year ago. Income from continuing operations was $52,055,000 or $4.17 per basic and diluted share against $54,001,000 or $4.08 per basic and diluted share a year ago. Operating profit was $80,035,000 compared to $75,250,000 a year ago. Income from continuing operations before income tax expense was $73,126,000 compared to $72,822,000 a year ago. EBITDA from continuing operations was $87,014,000 compared to $86,867,000 a year ago. EBITDA from continuing operations, as adjusted was $89,749,000 compared to $85,293,000 a year ago. Adjusted net income was $53.7 million, or $4.30 per share, ex one-time items, versus $53.0 million, or $4.01 per share in the same quarter the previous year. For the full year, the company reported net income of $233,255,000 or $18.38 per basic and diluted share on net sales of $2,335,405,000 against net income of $264,742,000 or $19.90 per basic and diluted share on net sales of $2,280,355,000 a year ago. Income from continuing operations was $233,255,000 or $18.38 per basic and diluted share against $242,347,000 or $18.21 per basic and diluted share a year ago. Operating profit was $362,720,000 compared to $351,845,000 a year ago. Income from continuing operations before income tax expense was $339,099,000 compared to $341,311,000 a year ago. Capital expenditures were $54,982,000 compared to $58,476,000 a year ago. EBITDA from continuing operations was $395,843,000 compared to $399,168,000 a year ago. EBITDA from continuing operations, as adjusted was $402,968,000 compared to $392,478,000 a year ago.

 

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Industry Analysis

NEU

Industry Average

Valuation NEU Industry Range
Price/Earnings 25.0x
Price/Sales 2.5x
Price/Book 13.6x
Price/Cash Flow 24.5x
TEV/Sales 2.2x
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