NewMarket (NYSE:NEU) Sets New 12-Month High - Here's What Happened

Key Points

• NewMarket Corporation reached a new 52-week high of $836.30 during trading, closing at $835.98 with a significant volume of 41,602 shares.
• Analyst ratings saw a recent downgrade from "buy" to "hold" by Wall Street Zen, potentially impacting investor sentiment.
• The company announced a quarterly dividend of $2.75 per share, with a dividend yield of 1.3%, set to be paid on October 1st.

NewMarket Corporation (NYSE:NEU - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $836.30 and last traded at $835.98, with a volume of 41602 shares trading hands. The stock had previously closed at $823.98.

Wall Street Analyst Weigh In

Separately, Wall Street Zen downgraded shares of NewMarket from a "buy" rating to a "hold" rating in a report on Saturday, August 30th.

NewMarket Stock Performance

The company has a market cap of $7.82 billion, a P/E ratio of 16.49 and a beta of 0.49. The business's 50 day simple moving average is $763.67 and its 200 day simple moving average is $661.79. The company has a current ratio of 2.66, a quick ratio of 1.43 and a debt-to-equity ratio of 0.52.

NewMarket (NYSE:NEU - Get Free Report) last released its earnings results on Wednesday, July 30th. The specialty chemicals company reported $11.84 EPS for the quarter. NewMarket had a net margin of 17.28% and a return on equity of 32.25%. The company had revenue of $698.51 million for the quarter.

NewMarket Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be paid a dividend of $2.75 per share. The ex-dividend date is Monday, September 15th. This represents a $11.00 dividend on an annualized basis and a yield of 1.3%. NewMarket's dividend payout ratio (DPR) is presently 21.80%.

Institutional Investors Weigh In On NewMarket

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. 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 raised its position in shares of NewMarket by 587.5% during 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 last quarter. Private Trust Co. NA raised its position in shares of 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 buying an additional 50 shares during the last quarter. Whipplewood Advisors LLC raised its position in shares of NewMarket by 7,700.0% during the first quarter. Whipplewood Advisors LLC now owns 78 shares of the specialty chemicals company's stock valued at $44,000 after buying an additional 77 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of NewMarket by 100.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78 shares of the specialty chemicals company's stock valued at $44,000 after buying an additional 39 shares during the last quarter. Institutional investors 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.