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

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

NewMarket Stock Performance

The stock's 50-day moving average is $648.18 and its 200-day moving average is $572.61. The stock has a market cap of $6.95 billion, a price-to-earnings ratio of 14.68 and a beta of 0.42. The company has a current ratio of 2.84, a quick ratio of 1.60 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 (EPS) for the quarter. The business had revenue of $700.95 million during 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 was paid on Tuesday, July 1st. Stockholders of record on Monday, June 16th were paid a $2.75 dividend. The ex-dividend date was Monday, June 16th. This represents a $11.00 annualized dividend and a dividend yield of 1.49%. NewMarket's dividend payout ratio (DPR) is presently 21.89%.

Insiders Place Their Bets

In other NewMarket news, CAO Bruce R. Hazelgrove III sold 311 shares of the business's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $642.43, for a total value of $199,795.73. Following the transaction, the chief accounting officer owned 358 shares in the company, 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 through the SEC website. Insiders own 19.10% of the company's stock.

Hedge Funds Weigh In On NewMarket

Several institutional investors and hedge funds have recently made changes to their positions in the business. Bank of New York Mellon Corp grew its holdings in NewMarket by 20.6% during the 4th quarter. Bank of New York Mellon Corp now owns 91,875 shares of the specialty chemicals company's stock worth $48,542,000 after acquiring an additional 15,694 shares in the last quarter. Steward Partners Investment Advisory LLC increased its stake in NewMarket by 481.5% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 157 shares of the specialty chemicals company's stock valued at $83,000 after purchasing an additional 130 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of NewMarket by 4.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 82,347 shares of the specialty chemicals company's stock worth $43,508,000 after purchasing an additional 3,601 shares during the period. Assetmark Inc. lifted its position in shares of NewMarket by 0.6% in the 4th quarter. Assetmark Inc. now owns 3,118 shares of the specialty chemicals company's stock worth $1,647,000 after buying an additional 20 shares during the last quarter. Finally, Atria Investments Inc boosted its holdings in shares of NewMarket by 1.6% in the 4th quarter. Atria Investments Inc now owns 1,302 shares of the specialty chemicals company's stock valued at $688,000 after buying an additional 20 shares during the period. 61.09% of the stock is currently owned by hedge funds and other institutional investors.

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.