NewMarket (NYSE:NEU) Sees Unusually-High Trading Volume - Should You Buy?

NewMarket Corporation (NYSE:NEU - Get Free Report) saw unusually-strong trading volume on Thursday . Approximately 166,045 shares were traded during mid-day trading, an increase of 142% from the previous session's volume of 68,751 shares.The stock last traded at $677.75 and had previously closed at $673.89.

NewMarket Trading Up 0.8%

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 stock has a market cap of $6.41 billion, a price-to-earnings ratio of 13.52 and a beta of 0.41. The company's 50 day simple moving average is $632.59 and its two-hundred 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 for the quarter. NewMarket had a net margin of 17.22% and a return on equity of 34.45%. The business had revenue of $700.95 million for the quarter.

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 issued a dividend of $2.75 per share. The ex-dividend date is Monday, June 16th. This represents a $11.00 dividend on an annualized basis and a dividend yield of 1.62%. NewMarket's dividend payout ratio is currently 21.89%.

Insiders Place Their Bets

In other news, CAO Bruce R. Hazelgrove III sold 311 shares of the firm's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $642.43, for a total value of $199,795.73. Following the sale, the chief accounting officer now directly owns 358 shares of the company's stock, 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 document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 19.10% of the company's stock.

Hedge Funds Weigh In On NewMarket

A number of institutional investors and hedge funds have recently bought and sold shares of NEU. Bessemer Group Inc. increased its holdings in shares of NewMarket by 166.7% during the 4th quarter. Bessemer Group Inc. now owns 48 shares of the specialty chemicals company's stock worth $25,000 after purchasing an additional 30 shares during the period. MassMutual Private Wealth & Trust FSB grew its position in NewMarket by 557.1% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 46 shares of the specialty chemicals company's stock worth $26,000 after buying an additional 39 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its stake in NewMarket by 587.5% during the first quarter. Caitong International Asset Management Co. Ltd now owns 55 shares of the specialty chemicals company's stock valued at $31,000 after acquiring an additional 47 shares during the period. Whipplewood Advisors LLC increased its stake in NewMarket by 7,700.0% during the first quarter. Whipplewood Advisors LLC now owns 78 shares of the specialty chemicals company's stock valued at $44,000 after acquiring an additional 77 shares during the period. Finally, Private Trust Co. NA raised its holdings in NewMarket by 185.2% in the 1st 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. Institutional investors 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.

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