NewMarket (NYSE:NEU) Sets New 52-Week High - Still a Buy?

Shares of NewMarket Corporation (NYSE:NEU - Get Free Report) hit a new 52-week high during trading on Monday . The company traded as high as $738.74 and last traded at $738.83, with a volume of 36741 shares trading hands. The stock had previously closed at $737.28.

NewMarket Stock Down 0.1%

The firm has a market cap of $6.92 billion, a P/E ratio of 14.60 and a beta of 0.42. The stock's 50 day simple moving average is $656.18 and its 200 day simple moving average is $577.28. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.60 and a current ratio of 2.84.

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

NewMarket Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Monday, June 16th were issued a dividend of $2.75 per share. This represents a $11.00 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date of this dividend was Monday, June 16th. NewMarket's dividend payout ratio is 21.89%.

Insider Transactions at NewMarket

In other NewMarket news, CAO Bruce R. Hazelgrove III sold 311 shares of NewMarket stock in a transaction on Monday, May 12th. The shares were sold at an average price of $642.43, for a total transaction of $199,795.73. Following the transaction, the chief accounting officer directly owned 358 shares of the company's stock, valued at $229,989.94. The trade was a 46.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 19.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On NewMarket

Hedge funds have recently bought and sold shares of the company. Gallacher Capital Management LLC boosted its holdings in shares of NewMarket by 17.8% in the 2nd quarter. Gallacher Capital Management LLC now owns 1,409 shares of the specialty chemicals company's stock worth $974,000 after buying an additional 213 shares during the last quarter. Parallel Advisors LLC boosted its holdings in shares of NewMarket by 2.1% in the 2nd quarter. Parallel Advisors LLC now owns 740 shares of the specialty chemicals company's stock worth $511,000 after buying an additional 15 shares during the last quarter. WBI Investments LLC boosted its holdings in shares of NewMarket by 180.5% in the 1st quarter. WBI Investments LLC now owns 1,989 shares of the specialty chemicals company's stock worth $1,127,000 after buying an additional 1,280 shares during the last quarter. Impala Asset Management LLC purchased a new position in shares of NewMarket in the 1st quarter worth about $36,819,000. Finally, Jane Street Group LLC boosted its holdings in shares of NewMarket by 1,081.3% in the 1st quarter. Jane Street Group LLC now owns 10,974 shares of the specialty chemicals company's stock worth $6,216,000 after buying an additional 10,045 shares during the last quarter. 61.09% of the stock is 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.