NewMarket (NYSE:NEU) Sets New 1-Year High - Here's What Happened

Key Points

• NewMarket Corporation shares reached a new 52-week high of $829.25 before closing at $818.34 on the day, with a trading volume of 125,733 shares.
• Wall Street Zen downgraded NewMarket's rating from "buy" to "hold" in a recent report.
• The company announced a quarterly dividend of $2.75 per share, which will be paid on October 1st, representing a 1.3% annual yield.

NewMarket Corporation (NYSE:NEU - Get Free Report) shares reached a new 52-week high on Tuesday . The stock traded as high as $829.25 and last traded at $818.34, with a volume of 125733 shares changing hands. The stock had previously closed at $824.34.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut shares of NewMarket from a "buy" rating to a "hold" rating in a report on Saturday.

NewMarket Trading Up 0.4%

The firm has a market capitalization of $7.80 billion, a P/E ratio of 16.45 and a beta of 0.49. The stock's 50-day simple moving average is $739.18 and its two-hundred day simple moving average is $642.75. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.66 and a quick ratio of 1.43.

NewMarket (NYSE:NEU - Get Free Report) last released its earnings results on Wednesday, July 30th. The specialty chemicals company reported $11.84 EPS for the quarter. NewMarket had a net margin of 17.28% and a return on equity of 32.25%. The firm had revenue of $698.51 million for the quarter.

NewMarket Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be issued a $2.75 dividend. This represents a $11.00 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Monday, September 15th. NewMarket's payout ratio is 21.80%.

Hedge Funds Weigh In On NewMarket

Several hedge funds have recently modified their holdings of NEU. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of NewMarket by 557.1% in 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 lifted its holdings in shares of NewMarket by 587.5% in the first quarter. Caitong International Asset Management Co. Ltd now owns 55 shares of the specialty chemicals company's stock worth $31,000 after buying an additional 47 shares in the last quarter. Whipplewood Advisors LLC lifted its holdings in shares of NewMarket by 7,700.0% in the first quarter. Whipplewood Advisors LLC now owns 78 shares of the specialty chemicals company's stock worth $44,000 after buying an additional 77 shares in the last quarter. Private Trust Co. NA lifted its holdings in shares of NewMarket by 185.2% in the first quarter. Private Trust Co. NA now owns 77 shares of the specialty chemicals company's stock worth $44,000 after buying an additional 50 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of NewMarket by 100.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78 shares of the specialty chemicals company's stock worth $44,000 after buying an additional 39 shares in the last quarter. Hedge funds and other institutional investors own 61.09% of the company's stock.

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.

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