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

Key Points

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NewMarket Corporation (NYSE:NEU - Get Free Report) shares hit a new 52-week high during mid-day trading on Tuesday . The company 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 Price Performance

The business has a fifty day moving average of $708.13 and a 200-day moving average of $622.77. The firm has a market cap of $7.31 billion, a PE ratio of 15.42 and a beta of 0.45. The company has a current ratio of 2.66, a quick ratio of 1.43 and a debt-to-equity ratio of 0.52.

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

NewMarket Announces Dividend

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

Institutional Trading of NewMarket

Several institutional investors and hedge funds have recently modified their holdings of NEU. MassMutual Private Wealth & Trust FSB raised its holdings in shares of NewMarket by 557.1% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 46 shares of the specialty chemicals company's stock valued at $26,000 after acquiring an additional 39 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its position 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 valued at $31,000 after purchasing an additional 47 shares during the last quarter. Whipplewood Advisors LLC increased its position 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 valued at $44,000 after purchasing an additional 77 shares during the last quarter. Private Trust Co. NA increased its position 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 valued at $44,000 after purchasing an additional 50 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position 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 valued at $44,000 after purchasing an additional 39 shares during 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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