NewMarket (NYSE:NEU) Reaches New 1-Year High - Here's What Happened

NewMarket Corporation (NYSE:NEU - Get Free Report)'s stock price reached a new 52-week high during trading on Monday . The company traded as high as $692.56 and last traded at $684.73, with a volume of 4182 shares traded. The stock had previously closed at $686.44.

NewMarket Price Performance

The company's 50-day simple moving average is $637.38 and its 200 day simple moving average is $568.30. The company has a market capitalization of $6.48 billion, a P/E ratio of 13.67 and a beta of 0.41. The company has a quick ratio of 1.60, a current ratio of 2.84 and a debt-to-equity ratio of 0.65.

NewMarket (NYSE:NEU - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The specialty chemicals company reported $13.26 earnings per share for the quarter. The company had revenue of $700.95 million for the quarter. NewMarket had a return on equity of 34.45% and a net margin of 17.22%.

NewMarket Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 16th will be paid a $2.75 dividend. The ex-dividend date is Monday, June 16th. This represents a $11.00 dividend on an annualized basis and a yield of 1.60%. NewMarket's payout ratio is presently 21.89%.

Insiders Place Their Bets

In other NewMarket news, CAO Bruce R. Hazelgrove III sold 311 shares of NewMarket stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $642.43, for a total value of $199,795.73. Following the transaction, the chief accounting officer now directly owns 358 shares of the company's stock, valued at $229,989.94. The trade was a 46.49% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 19.10% of the company's stock.

Institutional Investors Weigh In On NewMarket

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bessemer Group Inc. boosted its holdings in NewMarket by 166.7% in the 4th quarter. Bessemer Group Inc. now owns 48 shares of the specialty chemicals company's stock valued at $25,000 after purchasing an additional 30 shares during the period. MassMutual Private Wealth & Trust FSB raised its position in shares of NewMarket by 557.1% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 46 shares of the specialty chemicals company's stock valued at $26,000 after buying an additional 39 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its stake in shares of NewMarket by 587.5% in the first quarter. Caitong International Asset Management Co. Ltd now owns 55 shares of the specialty chemicals company's stock valued at $31,000 after buying an additional 47 shares during the period. Whipplewood Advisors LLC grew its position in NewMarket by 7,700.0% during the first quarter. Whipplewood Advisors LLC now owns 78 shares of the specialty chemicals company's stock worth $44,000 after buying an additional 77 shares in the last quarter. Finally, Private Trust Co. NA increased its stake in NewMarket by 185.2% during the first quarter. Private Trust Co. NA now owns 77 shares of the specialty chemicals company's stock valued at $44,000 after acquiring an additional 50 shares during the period. Institutional investors and hedge funds own 61.09% of the company's stock.

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.

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