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

NewMarket Co. (NYSE:NEU - Get Free Report) shares saw an uptick in trading volume on Friday . 93,121 shares traded hands during 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 NewMarket from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, February 19th.

NewMarket Stock Performance

The company has a quick ratio of 1.40, a current ratio of 2.75 and a debt-to-equity ratio of 0.66. The stock has a market cap of $6.12 billion, a price-to-earnings ratio of 13.46 and a beta of 0.41. The company has a 50 day simple moving average of $606.10 and a 200 day simple moving average of $556.50.

NewMarket (NYSE:NEU - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The specialty chemicals company reported $13.26 earnings per share (EPS) 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 Dividend Announcement

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 paid a $2.75 dividend. This represents a $11.00 annualized dividend and a dividend yield of 1.70%. The ex-dividend date is Monday, June 16th. NewMarket's dividend payout ratio is currently 21.89%.

Insider Activity

In other news, CAO Bruce R. Hazelgrove III sold 311 shares of the company'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 transaction, the chief accounting officer now owns 358 shares of the company's stock, valued at $229,989.94. This represents a 46.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 19.10% of the stock is currently owned by insiders.

Institutional Trading of NewMarket

A number of institutional investors and hedge funds have recently bought and sold shares of NEU. Bessemer Group Inc. increased its holdings in NewMarket by 166.7% in the fourth 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 during the period. MassMutual Private Wealth & Trust FSB increased its position in NewMarket by 557.1% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 46 shares of the specialty chemicals company's stock valued at $26,000 after purchasing an additional 39 shares during the period. Caitong International Asset Management Co. Ltd increased its position in NewMarket by 587.5% during 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 purchasing an additional 47 shares during the period. Whipplewood Advisors LLC increased its position in NewMarket by 7,700.0% during the 1st quarter. Whipplewood Advisors LLC now owns 78 shares of the specialty chemicals company's stock valued at $44,000 after purchasing an additional 77 shares during the period. Finally, Private Trust Co. NA increased its position in NewMarket by 185.2% during the 1st quarter. Private Trust Co. NA now owns 77 shares of the specialty chemicals company's stock valued at $44,000 after purchasing an additional 50 shares during the period. 61.09% of the stock is currently owned by institutional investors and hedge funds.

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.