NewMarket (NYSE:NEU) Reaches New 52-Week High - Still a Buy?

Key Points

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NewMarket Corporation (NYSE:NEU - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $780.16 and last traded at $780.41, with a volume of 3826 shares. The stock had previously closed at $772.35.

NewMarket Trading Down 0.6%

The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.43 and a current ratio of 2.66. The company's fifty day simple moving average is $718.87 and its 200-day simple moving average is $630.03. The company has a market capitalization of $7.48 billion, a P/E ratio of 15.78 and a beta of 0.45.

NewMarket (NYSE:NEU - Get Free Report) last released its quarterly 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 business had revenue of $698.51 million during the quarter.

NewMarket Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 15th will be issued a $2.75 dividend. This represents a $11.00 annualized dividend and a yield of 1.4%. The ex-dividend date is Monday, September 15th. NewMarket's dividend payout ratio is 21.80%.

Hedge Funds Weigh In On NewMarket

Several hedge funds and other institutional investors have recently bought and sold shares of NEU. MassMutual Private Wealth & Trust FSB increased its holdings in NewMarket by 557.1% in the 1st 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 during the period. Caitong International Asset Management Co. Ltd grew its stake in shares of 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 worth $31,000 after purchasing an additional 47 shares during the period. Whipplewood Advisors LLC grew its stake in shares of NewMarket by 7,700.0% during the 1st quarter. Whipplewood Advisors LLC now owns 78 shares of the specialty chemicals company's stock worth $44,000 after purchasing an additional 77 shares during the period. Private Trust Co. NA grew its stake in shares of NewMarket by 185.2% during the 1st quarter. Private Trust Co. NA now owns 77 shares of the specialty chemicals company's stock worth $44,000 after purchasing an additional 50 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of NewMarket by 100.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78 shares of the specialty chemicals company's stock worth $44,000 after purchasing an additional 39 shares during the period. Institutional investors and hedge funds 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.