NewMarket (NYSE:NEU) Stock Breaks Above 200 Day Moving Average - Here's What Happened

Key Points

• NewMarket shares broke above their 200-day moving average, reaching $908.50 before last trading at approximately $895.39. The company’s market capitalization is $8.24 billion, with a P/E ratio of 19.26.
• Analyst sentiment improved, with Wall Street Zen upgrading the stock to “buy” and Weiss Ratings raising its rating to “buy (b).” MarketBeat data shows a consensus “Buy” rating.
• NewMarket reported quarterly revenue of $747.09 million and EPS of $14.54, while paying a quarterly dividend of $3.00 per share, equivalent to a 1.3% yield and a 25.82% payout ratio.

NewMarket Corporation (NYSE:NEU - Get Free Report) shares crossed above its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $791.53 and traded as high as $908.50. NewMarket shares last traded at $895.3930, with a volume of 107,480 shares changing hands.

Analyst Ratings Changes

NEU has been the topic of several research analyst reports. Wall Street Zen raised shares of NewMarket from a "hold" rating to a "buy" rating in a report on Saturday, August 1st. Weiss Ratings raised shares of NewMarket from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday. One research analyst has rated the stock with a Buy rating. According to data from MarketBeat.com, the company has a consensus rating of "Buy".

NewMarket Stock Performance

The business's fifty day moving average is $906.21 and its two-hundred day moving average is $791.53. The stock has a market capitalization of $8.24 billion, a PE ratio of 19.26 and a beta of 0.55. The company has a quick ratio of 1.23, a current ratio of 2.25 and a debt-to-equity ratio of 0.47.

NewMarket (NYSE:NEU - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The specialty chemicals company reported $14.54 earnings per share (EPS) for the quarter. NewMarket had a net margin of 15.80% and a return on equity of 24.62%. The company had revenue of $747.09 million for the quarter.

NewMarket Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th were given a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a dividend yield of 1.3%. The ex-dividend date was Tuesday, September 15th. NewMarket's dividend payout ratio is currently 25.82%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in NEU. Wedmont Private Capital raised its position in NewMarket by 238.0% during the third quarter. Wedmont Private Capital now owns 1,166 shares of the specialty chemicals company's stock valued at $1,054,000 after purchasing an additional 821 shares during the period. GAMMA Investing LLC boosted its holdings in shares of NewMarket by 24.3% in the 3rd quarter. GAMMA Investing LLC now owns 363 shares of the specialty chemicals company's stock worth $326,000 after purchasing an additional 71 shares during the period. Sequoia Financial Advisors LLC bought a new position in shares of NewMarket during the 2nd quarter valued at approximately $236,000. Integrated Wealth Concepts LLC bought a new position in shares of NewMarket during the 2nd quarter valued at approximately $471,000. Finally, NewEdge Advisors LLC raised its holdings in NewMarket by 4.4% during the 2nd quarter. NewEdge Advisors LLC now owns 1,282 shares of the specialty chemicals company's stock valued at $1,015,000 after buying an additional 54 shares during the period. Institutional investors own 61.09% of the company's stock.

About NewMarket

NewMarket Corporation NYSE: NEU is a Richmond, Virginia-based holding company that develops, manufactures and distributes petroleum additives through its subsidiaries, primarily Afton Chemical Corporation and Ethyl Corporation. Its products are designed to improve the performance, efficiency, reliability and cleanliness of fuels and lubricants.

Afton Chemical supplies additive packages and components for automotive, transportation, industrial and other applications. Its offerings include gasoline and diesel fuel additives, engine-oil and transmission-fluid additives, and products for industrial lubricants and related petroleum-based applications.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.