NewMarket (NYSE:NEU) Sets New 1-Year High - Time to Buy?

NewMarket Co. (NYSE:NEU - Get Free Report) shares hit a new 52-week high on Wednesday . The company traded as high as $653.71 and last traded at $650.09, with a volume of 25152 shares trading hands. The stock had previously closed at $650.81.

Analyst Ratings Changes

Separately, Wall Street Zen downgraded shares of NewMarket from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, February 19th.

NewMarket Price Performance

The firm has a market cap of $6.03 billion, a PE ratio of 13.27 and a beta of 0.41. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.40 and a current ratio of 2.75. The stock's fifty day moving average price is $586.50 and its 200-day moving average price is $549.24.

NewMarket (NYSE:NEU - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The specialty chemicals company reported $13.26 EPS for the quarter. The business had revenue of $700.95 million for the quarter. NewMarket had a net margin of 16.59% and a return on equity of 35.48%.

NewMarket Dividend Announcement

The business also recently announced 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 annualized dividend and a yield of 1.72%. The ex-dividend date is Monday, June 16th. NewMarket's dividend payout ratio is presently 21.89%.

Insider Activity

In other news, CAO Bruce R. Hazelgrove III sold 311 shares of NewMarket stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $642.43, for a total transaction of $199,795.73. Following the sale, 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 filing with the SEC, which is accessible through the SEC website. Corporate insiders own 19.10% of the company's stock.

Institutional Trading of NewMarket

Large investors have recently added to or reduced their stakes in the business. MassMutual Private Wealth & Trust FSB boosted its position in NewMarket by 557.1% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 46 shares of the specialty chemicals company's stock worth $26,000 after acquiring an additional 39 shares during the period. Bessemer Group Inc. increased its position in shares of 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 acquiring an additional 30 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its stake in 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 period. Private Trust Co. NA boosted its position in 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. Finally, Whipplewood Advisors LLC increased its stake in NewMarket by 7,700.0% in the 1st quarter. Whipplewood Advisors LLC now owns 78 shares of the specialty chemicals company's stock valued at $44,000 after buying an additional 77 shares during the period. 61.09% of the stock is currently owned by institutional investors and hedge funds.

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.