NewMarket (NYSE:NEU) Reaches New 52-Week High - Here's Why

Key Points

• NewMarket Corporation's stock reached a new 52-week high of $745.77, indicating strong performance with a last traded price of $742.36.
• The company reported quarterly earnings of $11.84 per share, with a net margin of 17.28% and a return on equity of 32.25%.
• NewMarket's recent dividend announcement includes a payout of $2.75 per share, representing an annual yield of 1.5% and a payout ratio of 21.80%.

NewMarket Corporation (NYSE:NEU - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $745.77 and last traded at $742.36, with a volume of 8090 shares changing hands. The stock had previously closed at $738.17.

NewMarket Stock Performance

The company has a market cap of $7.28 billion, a PE ratio of 15.36 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. The business has a fifty day moving average of $700.69 and a 200-day moving average of $615.52.

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

NewMarket Announces Dividend

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Crossmark Global Holdings Inc. purchased a new position in shares of NewMarket during the 1st quarter worth approximately $257,000. Private Trust Co. NA grew its holdings 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 acquiring an additional 50 shares during the period. Farther Finance Advisors LLC grew its holdings in shares of NewMarket by 34.1% during the 1st quarter. Farther Finance Advisors LLC now owns 444 shares of the specialty chemicals company's stock worth $252,000 after acquiring an additional 113 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in shares of NewMarket by 45.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 718 shares of the specialty chemicals company's stock worth $407,000 after acquiring an additional 223 shares during the period. Finally, Allianz Asset Management GmbH grew its stake in shares of NewMarket by 15.1% in the 1st quarter. Allianz Asset Management GmbH now owns 3,993 shares of the specialty chemicals company's stock worth $2,262,000 after buying an additional 523 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.