NewMarket Corporation (NYSE:NEU - Get Free Report) saw unusually-strong trading volume on Wednesday . Approximately 83,749 shares were traded during mid-day trading, an increase of 63% from the previous session's volume of 51,275 shares.The stock last traded at $707.52 and had previously closed at $705.59.
NewMarket Stock Up 2.4%
The business's 50-day moving average price is $650.90 and its 200-day moving average price is $573.98. The company has a quick ratio of 1.60, a current ratio of 2.84 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $6.96 billion, a PE ratio of 14.68 and a beta of 0.42.
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 (EPS) for the quarter. The business 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 Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Monday, June 16th were issued a $2.75 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $11.00 dividend on an annualized basis and a yield of 1.49%. NewMarket's dividend payout ratio is currently 21.89%.
Insider Buying and Selling
In related news, CAO Bruce R. Hazelgrove III sold 311 shares of the 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 transaction, the chief accounting officer owned 358 shares in the company, valued at approximately $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 accessible through this link. Corporate insiders own 19.10% of the company's stock.
Hedge Funds Weigh In On NewMarket
A number of hedge funds have recently added to or reduced their stakes in NEU. Steward Partners Investment Advisory LLC increased its holdings in NewMarket by 481.5% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 157 shares of the specialty chemicals company's stock worth $83,000 after buying an additional 130 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in NewMarket by 4.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 82,347 shares of the specialty chemicals company's stock worth $43,508,000 after buying an additional 3,601 shares during the last quarter. Assetmark Inc. increased its holdings in NewMarket by 0.6% in the fourth quarter. Assetmark Inc. now owns 3,118 shares of the specialty chemicals company's stock worth $1,647,000 after buying an additional 20 shares during the last quarter. Atria Investments Inc increased its holdings in NewMarket by 1.6% in the fourth quarter. Atria Investments Inc now owns 1,302 shares of the specialty chemicals company's stock worth $688,000 after buying an additional 20 shares during the last quarter. Finally, Proficio Capital Partners LLC acquired a new position in NewMarket during the fourth quarter valued at approximately $8,933,000. Institutional investors and hedge funds own 61.09% of the company's stock.
About NewMarket
(
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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