NewMarket Co. (NYSE:NEU - Get Free Report) shares reached a new 52-week high during mid-day trading on Monday . The company traded as high as $656.71 and last traded at $650.62, with a volume of 301389 shares trading hands. The stock had previously closed at $644.62.
Wall Street Analysts Forecast Growth
Separately, Wall Street Zen cut NewMarket from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, February 19th.
Read Our Latest Analysis on NewMarket
NewMarket Stock Down 1.7%
The business has a 50-day simple moving average of $610.54 and a two-hundred day simple moving average of $557.95. The stock has a market capitalization of $6.19 billion, a P/E ratio of 13.60 and a beta of 0.41. The company has a quick ratio of 1.40, a current ratio of 2.75 and a debt-to-equity ratio of 0.66.
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 for the quarter. NewMarket had a return on equity of 35.48% and a net margin of 16.59%. The firm had revenue of $700.95 million for the quarter.
NewMarket Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 16th will be given a $2.75 dividend. This represents a $11.00 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date is Monday, June 16th. NewMarket's dividend payout ratio (DPR) is 21.89%.
Insider Buying and Selling at NewMarket
In other NewMarket news, CAO Bruce R. Hazelgrove III sold 311 shares of the business's stock in a transaction 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 now owns 358 shares of the company's stock, valued at approximately $229,989.94. The trade was a 46.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 19.10% of the company's stock.
Hedge Funds Weigh In On NewMarket
Institutional investors and hedge funds have recently bought and sold shares of the business. Bessemer Group Inc. boosted its stake in NewMarket by 166.7% in the fourth quarter. Bessemer Group Inc. now owns 48 shares of the specialty chemicals company's stock worth $25,000 after purchasing an additional 30 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in shares of NewMarket by 557.1% during the first 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 during the period. Caitong International Asset Management Co. Ltd lifted its stake in shares of NewMarket by 587.5% during the first quarter. Caitong International Asset Management Co. Ltd now owns 55 shares of the specialty chemicals company's stock valued at $31,000 after acquiring an additional 47 shares during the period. Whipplewood Advisors LLC lifted its stake in shares of NewMarket by 7,700.0% during the first quarter. Whipplewood Advisors LLC now owns 78 shares of the specialty chemicals company's stock valued at $44,000 after acquiring an additional 77 shares during the period. Finally, Private Trust Co. NA lifted its stake in shares of NewMarket by 185.2% during the first quarter. Private Trust Co. NA now owns 77 shares of the specialty chemicals company's stock valued at $44,000 after acquiring an additional 50 shares during the period. 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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