NewMarket (NYSE:NEU) Sees Large Volume Increase - Time to Buy?

Shares of NewMarket Co. (NYSE:NEU - Get Free Report) saw unusually-high trading volume on Friday . Approximately 49,086 shares were traded during trading, an increase of 13% from the previous session's volume of 43,546 shares.The stock last traded at $655.63 and had previously closed at $654.94.

Analysts Set New Price Targets

Separately, Wall Street Zen cut NewMarket from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, February 19th.

NewMarket Trading Down 1.0%

The business has a 50 day moving average of $615.66 and a 200-day moving average of $559.45. The company has a current ratio of 2.75, a quick ratio of 1.40 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $6.12 billion, a P/E ratio of 13.45 and a beta of 0.41.

NewMarket (NYSE:NEU - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The specialty chemicals company reported $13.26 earnings per share for the quarter. The company had revenue of $700.95 million during the quarter. NewMarket had a net margin of 16.59% and a return on equity of 35.48%.

NewMarket Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 16th will be paid a dividend of $2.75 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $11.00 annualized dividend and a dividend yield of 1.70%. NewMarket's dividend payout ratio is currently 21.89%.

Insider Transactions at NewMarket

In other NewMarket news, CAO Bruce R. Hazelgrove III sold 311 shares of the firm'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 completion of the sale, the chief accounting officer now owns 358 shares of the company's stock, valued at $229,989.94. This trade represents a 46.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 19.10% of the company's stock.

Institutional Investors Weigh In On NewMarket

Several hedge funds have recently added to or reduced their stakes in the business. Assetmark Inc. lifted its holdings in NewMarket by 0.6% during the 4th quarter. Assetmark Inc. now owns 3,118 shares of the specialty chemicals company's stock valued at $1,647,000 after purchasing an additional 20 shares during the last quarter. Atria Investments Inc increased its position in shares of NewMarket by 1.6% in the fourth quarter. Atria Investments Inc now owns 1,302 shares of the specialty chemicals company's stock worth $688,000 after purchasing an additional 20 shares during the period. Northwestern Mutual Wealth Management Co. increased its position in shares of NewMarket by 13.1% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 198 shares of the specialty chemicals company's stock worth $112,000 after purchasing an additional 23 shares during the period. Oregon Public Employees Retirement Fund grew its position 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 last quarter. Finally, Federated Hermes Inc. grew its position 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 last quarter. Institutional investors and hedge funds own 61.09% of the company's stock.

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.