NewMarket (NYSE:NEU) Sets New 52-Week High - What's Next?

NewMarket Corporation (NYSE:NEU - Get Free Report) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $674.54 and last traded at $673.69, with a volume of 150695 shares traded. The stock had previously closed at $650.99.

NewMarket Stock Up 1.1%

The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.60 and a current ratio of 2.84. The company has a market capitalization of $6.43 billion, a price-to-earnings ratio of 13.56 and a beta of 0.41. The firm's 50-day simple moving average is $632.59 and its 200-day simple moving average is $565.89.

NewMarket (NYSE:NEU - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The specialty chemicals company reported $13.26 earnings per share (EPS) for the quarter. The company 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 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 16th will be given a $2.75 dividend. The ex-dividend date is Monday, June 16th. This represents a $11.00 annualized dividend and a yield of 1.61%. NewMarket's dividend payout ratio is 21.89%.

Insiders Place Their Bets

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

Institutional Trading of NewMarket

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Atria Investments Inc increased its stake in NewMarket by 1.6% in the fourth quarter. Atria Investments Inc now owns 1,302 shares of the specialty chemicals company's stock valued at $688,000 after acquiring an additional 20 shares during the period. Assetmark Inc. increased its stake in NewMarket by 0.6% in the fourth quarter. Assetmark Inc. now owns 3,118 shares of the specialty chemicals company's stock valued at $1,647,000 after acquiring an additional 20 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in NewMarket by 13.1% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 198 shares of the specialty chemicals company's stock valued at $112,000 after acquiring an additional 23 shares during the period. Oregon Public Employees Retirement Fund increased its stake in NewMarket by 1.7% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,561 shares of the specialty chemicals company's stock valued at $825,000 after acquiring an additional 26 shares during the period. Finally, Federated Hermes Inc. increased its stake in NewMarket by 4.0% in the first quarter. Federated Hermes Inc. now owns 722 shares of the specialty chemicals company's stock valued at $409,000 after acquiring an additional 28 shares during the period. 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.