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What: Shares of NewMarket
So what: Total revenue grew 10.8% to $562.7 million as the petroleum additives strengthened during the quarter. Net income rose 34% to $66.5 million, or $4.96 per share, both easily topping estimates.
Now what: The growth has really shocked investors, and I don't think it's been priced into the stock yet. Shares are trading at 15 times trailing earnings, a good value for a company that increased earnings 34% in the quarter. I like the long-term value here and think shares can continue to rise after this great earnings report.
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Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.
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