NewMarket (NYSE:NEU) Sets New 52-Week High – Here’s What Happened

NewMarket Corporation (NYSE:NEU)’s share price hit a new 52-week high during trading on Monday . The stock traded as high as $738.74 and last traded at $738.83, with a volume of 36741 shares changing hands. The stock had previously closed at $737.28.

NewMarket Stock Down 0.0%

The company has a quick ratio of 1.60, a current ratio of 2.84 and a debt-to-equity ratio of 0.65. The company has a fifty day simple moving average of $650.90 and a 200-day simple moving average of $574.34. The firm has a market cap of $6.95 billion, a P/E ratio of 14.67 and a beta of 0.42.

NewMarket (NYSE:NEU) last issued its earnings results on Wednesday, April 23rd. The specialty chemicals company reported $13.26 earnings per share for the quarter. NewMarket had a net margin of 17.22% and a return on equity of 34.45%. The company had revenue of $700.95 million for the quarter.

NewMarket Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Monday, June 16th were given a dividend of $2.75 per share. The ex-dividend date was Monday, June 16th. This represents a $11.00 dividend on an annualized basis and a dividend yield of 1.49%. NewMarket’s dividend payout ratio is presently 21.89%.

Insider Buying and Selling at NewMarket

In related news, CAO Bruce R. Hazelgrove III sold 311 shares of the business’s stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $642.43, for a total transaction of $199,795.73. Following the completion of the transaction, the chief accounting officer owned 358 shares in the company, valued at $229,989.94. The trade was a 46.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 19.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Bessemer Group Inc. increased its stake in shares of NewMarket by 166.7% during the 4th quarter. Bessemer Group Inc. now owns 48 shares of the specialty chemicals company’s stock worth $25,000 after purchasing an additional 30 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its position in NewMarket by 557.1% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 46 shares of the specialty chemicals company’s stock worth $26,000 after buying an additional 39 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its holdings 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 buying an additional 47 shares during the period. Whipplewood Advisors LLC lifted its stake in shares of NewMarket by 7,700.0% during the 1st quarter. Whipplewood Advisors LLC now owns 78 shares of the specialty chemicals company’s stock worth $44,000 after purchasing an additional 77 shares during the last quarter. Finally, Private Trust Co. NA boosted its stake in shares of NewMarket by 185.2% in the first 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 last quarter. 61.09% of the stock is owned by hedge funds and other institutional investors.

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.