NewMarket (NYSE:NEU) Sees Strong Trading Volume - What's Next?

Shares of NewMarket Corporation (NYSE:NEU - Get Free Report) saw unusually-strong trading volume on Friday . Approximately 121,635 shares traded hands during mid-day trading, an increase of 165% from the previous session's volume of 45,932 shares.The stock last traded at $646.11 and had previously closed at $648.80.

NewMarket Stock Down 0.6%

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 firm has a 50 day simple moving average of $623.80 and a two-hundred day simple moving average of $562.31. The stock has a market cap of $6.08 billion, a P/E ratio of 12.84 and a beta of 0.41.

NewMarket (NYSE:NEU - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The specialty chemicals company reported $13.26 earnings per share for the quarter. The business 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 business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 16th will be issued a $2.75 dividend. This represents a $11.00 annualized dividend and a dividend yield of 1.71%. The ex-dividend date of this dividend is Monday, June 16th. NewMarket's dividend payout ratio (DPR) is presently 21.89%.

Insider Activity

In other news, CAO Bruce R. Hazelgrove III sold 311 shares of NewMarket stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $642.43, for a total value 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. The trade was a 46.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 19.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in NEU. Assetmark Inc. raised its holdings in shares of NewMarket by 0.6% during 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. Atria Investments Inc lifted its holdings 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 valued at $688,000 after purchasing an additional 20 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted 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 buying an additional 23 shares during the period. Oregon Public Employees Retirement Fund boosted its position in shares of 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 worth $825,000 after buying an additional 26 shares during the period. Finally, Federated Hermes Inc. grew its holdings in shares of NewMarket by 4.0% during the first quarter. Federated Hermes Inc. now owns 722 shares of the specialty chemicals company's stock valued at $409,000 after buying an additional 28 shares in the last quarter. Institutional investors and hedge funds 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.

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