NewMarket (NYSE:NEU) Stock Price Crosses Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• NewMarket shares crossed above their 200-day moving average, reaching $885.24 before closing at $880.875, compared with a 200-day average of $803.79.
• Analyst sentiment is positive: recent ratings upgrades led to a consensus “Buy” rating, although only one research analyst currently covers the stock.
• NewMarket reported quarterly EPS of $14.54 on $747.09 million in revenue and maintains a quarterly dividend of $3.00 per share, equal to a 1.4% annualized yield.

NewMarket Corporation (NYSE:NEU - Get Free Report)'s share price crossed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $803.79 and traded as high as $885.24. NewMarket shares last traded at $880.8750, with a volume of 101,995 shares traded.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on NEU shares. Weiss Ratings upgraded shares of NewMarket from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, October 8th. Wall Street Zen raised shares of NewMarket from a "hold" rating to a "buy" rating in a report on Saturday, August 1st. One research analyst has rated the stock with a Buy rating. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy".

NewMarket Price Performance

The stock has a fifty day simple moving average of $906.72 and a two-hundred day simple moving average of $803.79. The company has a market cap of $8.10 billion, a PE ratio of 18.95 and a beta of 0.55. The company has a current ratio of 2.25, a quick ratio of 1.23 and a debt-to-equity ratio of 0.47.

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

NewMarket Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Tuesday, September 15th were issued a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend was Tuesday, September 15th. NewMarket's dividend payout ratio is currently 25.82%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Krilogy Financial LLC raised its position in NewMarket by 12.5% during the third quarter. Krilogy Financial LLC now owns 352 shares of the specialty chemicals company's stock worth $316,000 after acquiring an additional 39 shares during the last quarter. NorthCrest Asset Manangement LLC lifted its holdings in shares of NewMarket by 6.2% in the third quarter. NorthCrest Asset Manangement LLC now owns 342 shares of the specialty chemicals company's stock valued at $309,000 after purchasing an additional 20 shares in the last quarter. Wedmont Private Capital grew its position in shares of NewMarket by 238.0% in 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 last quarter. GAMMA Investing LLC grew its position in shares of NewMarket by 24.3% in the third quarter. GAMMA Investing LLC now owns 363 shares of the specialty chemicals company's stock valued at $326,000 after purchasing an additional 71 shares during the last quarter. Finally, Sequoia Financial Advisors LLC acquired a new stake in shares of NewMarket in the second quarter valued at approximately $236,000. Hedge funds and other institutional investors own 61.09% of the company's stock.

About NewMarket

NewMarket Corporation NYSE: NEU is a holding company focused primarily on the development, manufacture and sale of petroleum additives. Its products are used to improve the performance, durability, efficiency and environmental characteristics of fuels, lubricants and other petroleum-based products.

NewMarket's principal operating businesses include Afton Chemical Corporation and Ethyl Corporation. Afton Chemical develops and supplies additive packages and components for engine oils, transmission fluids, hydraulic fluids, fuels and other industrial applications.

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