NewMarket (NYSE:NEU) Hits New 12-Month Low – Here’s Why

NewMarket Co. (NYSE:NEUGet Free Report)’s stock price hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $480.00 and last traded at $481.00, with a volume of 1712 shares changing hands. The stock had previously closed at $482.93.

NewMarket Price Performance

The business’s 50 day moving average price is $531.75 and its 200-day moving average price is $538.73. The company has a quick ratio of 1.50, a current ratio of 2.83 and a debt-to-equity ratio of 0.80. The company has a market cap of $4.82 billion, a PE ratio of 11.16 and a beta of 0.50.

NewMarket (NYSE:NEUGet Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The specialty chemicals company reported $13.79 EPS for the quarter. NewMarket had a net margin of 15.57% and a return on equity of 35.79%. The firm had revenue of $724.95 million for the quarter.

NewMarket Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 16th were issued a dividend of $2.50 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $10.00 annualized dividend and a yield of 1.99%. NewMarket’s dividend payout ratio is presently 22.21%.

Hedge Funds Weigh In On NewMarket

Institutional investors and hedge funds have recently made changes to their positions in the business. State Street Corp raised its holdings in NewMarket by 4.1% in the third quarter. State Street Corp now owns 229,372 shares of the specialty chemicals company’s stock valued at $127,132,000 after acquiring an additional 8,979 shares in the last quarter. Pacer Advisors Inc. increased its position in shares of NewMarket by 64.7% in the 2nd quarter. Pacer Advisors Inc. now owns 198,249 shares of the specialty chemicals company’s stock worth $102,211,000 after purchasing an additional 77,908 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of NewMarket by 0.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 170,893 shares of the specialty chemicals company’s stock valued at $94,314,000 after purchasing an additional 537 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of NewMarket by 8.2% during the second quarter. Dimensional Fund Advisors LP now owns 159,467 shares of the specialty chemicals company’s stock worth $82,214,000 after purchasing an additional 12,110 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in NewMarket by 10.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 78,746 shares of the specialty chemicals company’s stock worth $43,459,000 after purchasing an additional 7,719 shares in the last quarter. 61.09% of the stock is currently owned by hedge funds and other institutional investors.

About NewMarket

(Get Free Report)

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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