NewMarket Co. (NYSE:NEU - Get Free Report) shares saw an uptick in trading volume on Friday . 93,121 shares changed hands during mid-day trading, an increase of 151% from the previous session's volume of 37,162 shares.The stock last traded at $636.97 and had previously closed at $639.03.
Wall Street Analysts Forecast Growth
Separately, Wall Street Zen downgraded shares of NewMarket from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, February 19th.
Get Our Latest Analysis on NewMarket
NewMarket Stock Down 0.5%
The company has a debt-to-equity ratio of 0.66, a current ratio of 2.75 and a quick ratio of 1.40. The firm has a 50-day moving average of $602.86 and a 200 day moving average of $554.74. The stock has a market capitalization of $6.00 billion, a price-to-earnings ratio of 13.18 and a beta of 0.41.
NewMarket (NYSE:NEU - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The specialty chemicals company reported $13.26 EPS for the quarter. NewMarket had a return on equity of 35.48% and a net margin of 16.59%. The company had revenue of $700.95 million during the quarter.
NewMarket Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 16th will be given a $2.75 dividend. This represents a $11.00 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date of this dividend is Monday, June 16th. NewMarket's dividend payout ratio (DPR) is presently 21.89%.
Insider Transactions at NewMarket
In other news, CAO Bruce R. Hazelgrove III sold 311 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $642.43, for a total value of $199,795.73. Following the completion of the sale, the chief accounting officer now directly owns 358 shares of the company's stock, valued at $229,989.94. This trade represents a 46.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 19.10% of the stock is owned by company insiders.
Hedge Funds Weigh In On NewMarket
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NEU. WBI Investments LLC raised its position in shares of NewMarket by 180.5% in the first quarter. WBI Investments LLC now owns 1,989 shares of the specialty chemicals company's stock valued at $1,127,000 after purchasing an additional 1,280 shares during the period. Impala Asset Management LLC acquired a new stake in NewMarket during the first quarter worth approximately $36,819,000. Jane Street Group LLC lifted its position in NewMarket by 1,081.3% during the first quarter. Jane Street Group LLC now owns 10,974 shares of the specialty chemicals company's stock worth $6,216,000 after acquiring an additional 10,045 shares during the last quarter. SCS Capital Management LLC bought a new stake in shares of NewMarket during the first quarter worth approximately $3,848,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of NewMarket by 9.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 22,268 shares of the specialty chemicals company's stock valued at $12,614,000 after purchasing an additional 1,995 shares during the last quarter. 61.09% of the stock is owned by institutional investors.
NewMarket Company Profile
(
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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