NewMarket Corporation (NYSE:NEU - Get Free Report) shares hit a new 52-week high during mid-day trading on Monday . The company 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 4.0%
The firm has a 50 day simple moving average of $625.53 and a 200-day simple moving average of $563.32. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.84 and a quick ratio of 1.60. The stock has a market capitalization of $6.38 billion, a price-to-earnings ratio of 13.47 and a beta of 0.41.
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 company had revenue of $700.95 million during the quarter. NewMarket had a net margin of 17.22% and a return on equity of 34.45%.
NewMarket Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 16th will be issued a dividend of $2.75 per share. This represents a $11.00 annualized dividend and a dividend yield of 1.63%. The ex-dividend date is Monday, June 16th. NewMarket's payout ratio is presently 21.89%.
Insiders Place Their Bets
In other news, CAO Bruce R. Hazelgrove III sold 311 shares of the company's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $642.43, for a total transaction of $199,795.73. Following the transaction, the chief accounting officer now owns 358 shares of the company's stock, valued at $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 is available through this link. Insiders own 19.10% of the company's stock.
Institutional Trading of NewMarket
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its holdings in NewMarket by 54,160.0% during the 1st quarter. GAMMA Investing LLC now owns 103,094 shares of the specialty chemicals company's stock worth $58,398,000 after acquiring an additional 102,904 shares during the period. Norges Bank bought a new position in shares of NewMarket in the 4th quarter worth $41,268,000. Impala Asset Management LLC acquired a new stake in shares of NewMarket during the first quarter worth $36,819,000. American Century Companies Inc. increased its holdings in NewMarket by 120.3% in the first quarter. American Century Companies Inc. now owns 105,120 shares of the specialty chemicals company's stock valued at $59,545,000 after purchasing an additional 57,403 shares during the last quarter. Finally, Brandywine Global Investment Management LLC bought a new stake in NewMarket in the first quarter valued at about $19,348,000. 61.09% of the stock is currently owned by institutional investors and hedge funds.
NewMarket Company Profile
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Get Free Report)
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.
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