NewMarket (NYSE:NEU) Sets New 52-Week High - Should You Buy?

Key Points

• NewMarket Corporation (NYSE:NEU) has reached a new 52-week high, trading at $861.97 with a market capitalization of $8.08 billion and a PE ratio of 17.04.
• Wall Street analysts have mixed views, with one report downgrading the stock from a "buy" to a "hold" rating, while another maintained a "buy (b+)" rating, leading to an overall consensus rating of "Buy".
• The company recently declared a quarterly dividend of $2.75 per share, representing an annualized dividend of $11.00 and a dividend yield of 1.3%.

NewMarket Corporation (NYSE:NEU - Get Free Report) reached a new 52-week high during trading on Monday . The company traded as high as $861.93 and last traded at $861.97, with a volume of 49349 shares traded. The stock had previously closed at $846.04.

Wall Street Analysts Forecast Growth

NEU has been the topic of several research reports. Wall Street Zen cut NewMarket from a "buy" rating to a "hold" rating in a report on Saturday, August 30th. Weiss Ratings reissued a "buy (b+)" rating on shares of NewMarket in a research note on Saturday, September 27th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has a consensus rating of "Buy".

NewMarket Price Performance

The stock has a market capitalization of $8.08 billion, a PE ratio of 17.04 and a beta of 0.45. The company has a quick ratio of 1.43, a current ratio of 2.66 and a debt-to-equity ratio of 0.52. The stock's 50-day moving average is $791.07 and its 200 day moving average is $689.61.

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

NewMarket Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th were paid a dividend of $2.75 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $11.00 dividend on an annualized basis and a dividend yield of 1.3%. NewMarket's dividend payout ratio (DPR) is 21.80%.

Hedge Funds Weigh In On NewMarket

A number of hedge funds have recently added to or reduced their stakes in the company. Aaron Wealth Advisors LLC bought a new stake in NewMarket in the third quarter worth approximately $246,000. GAMMA Investing LLC boosted its holdings in NewMarket by 7.3% in the third quarter. GAMMA Investing LLC now owns 220 shares of the specialty chemicals company's stock worth $182,000 after purchasing an additional 15 shares in the last quarter. Corient Private Wealth LLC boosted its holdings in NewMarket by 8.4% in the second quarter. Corient Private Wealth LLC now owns 763 shares of the specialty chemicals company's stock worth $527,000 after purchasing an additional 59 shares in the last quarter. Osaic Holdings Inc. increased its position in NewMarket by 18.8% during the second quarter. Osaic Holdings Inc. now owns 1,364 shares of the specialty chemicals company's stock worth $922,000 after buying an additional 216 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its holdings in NewMarket by 41.4% during the second quarter. Thrivent Financial for Lutherans now owns 2,526 shares of the specialty chemicals company's stock valued at $1,745,000 after buying an additional 739 shares in the last quarter. 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.

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