NewMarket (NYSE:NEU) Hits New 12-Month High - What's Next?

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

NewMarket Stock Performance

The company has a current ratio of 2.84, a quick ratio of 1.60 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $6.93 billion, a price-to-earnings ratio of 14.62 and a beta of 0.42. The company's 50-day simple moving average is $660.78 and its 200-day simple moving average is $579.81.

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

NewMarket Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Monday, June 16th were given a $2.75 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $11.00 dividend on an annualized basis and a dividend yield of 1.50%. NewMarket's dividend payout ratio (DPR) is currently 21.89%.

Insider Buying and Selling at NewMarket

In other NewMarket news, CAO Bruce R. Hazelgrove III sold 311 shares of the company's 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 sale, the chief accounting officer owned 358 shares of the company's stock, valued at approximately $229,989.94. This represents a 46.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 19.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Bessemer Group Inc. increased its stake in shares of 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 acquiring an additional 30 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its stake in NewMarket by 557.1% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 46 shares of the specialty chemicals company's stock valued at $26,000 after purchasing an additional 39 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its holdings in NewMarket by 587.5% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 55 shares of the specialty chemicals company's stock worth $31,000 after purchasing an additional 47 shares in the last quarter. Whipplewood Advisors LLC raised its position in NewMarket by 7,700.0% in the 1st 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, Private Trust Co. NA boosted its holdings in NewMarket by 185.2% during the 1st quarter. Private Trust Co. NA now owns 77 shares of the specialty chemicals company's stock worth $44,000 after acquiring an additional 50 shares during the last quarter. 61.09% of the stock is owned by institutional investors and hedge funds.

About NewMarket

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.