NewMarket (NYSE:NEU) Sees Unusually-High Trading Volume - Still a Buy?

Shares of NewMarket Corporation (NYSE:NEU - Get Free Report) saw strong trading volume on Friday . 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 Up 4.0%

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 company has a 50-day simple moving average of $625.53 and a 200 day simple moving average of $563.32. The company has a market cap of $6.38 billion, a P/E ratio of 13.47 and a beta of 0.41.

NewMarket (NYSE:NEU - Get Free Report) last announced its quarterly earnings data 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 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. Stockholders of record on Monday, June 16th will be paid 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 of this dividend is Monday, June 16th. NewMarket's dividend payout ratio is presently 21.89%.

Insider Activity at NewMarket

In other 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 transaction, the chief accounting officer now owns 358 shares in the company, valued at approximately $229,989.94. This trade represents a 46.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 19.10% of the stock is owned by company insiders.

Institutional Trading of NewMarket

Hedge funds have recently added to or reduced their stakes in the business. Bessemer Group Inc. raised its holdings 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 purchasing an additional 30 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in shares of NewMarket by 557.1% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 46 shares of the specialty chemicals company's stock valued at $26,000 after buying an additional 39 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its holdings in shares of NewMarket by 587.5% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 55 shares of the specialty chemicals company's stock valued at $31,000 after buying an additional 47 shares in the last quarter. Whipplewood Advisors LLC grew its position in shares of NewMarket by 7,700.0% in the 1st quarter. Whipplewood Advisors LLC now owns 78 shares of the specialty chemicals company's stock worth $44,000 after buying an additional 77 shares during the last quarter. Finally, Private Trust Co. NA boosted its stake in NewMarket by 185.2% in the first quarter. Private Trust Co. NA now owns 77 shares of the specialty chemicals company's stock valued at $44,000 after acquiring an additional 50 shares in the last quarter. 61.09% of the stock is owned by hedge funds and other institutional investors.

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.