NewMarket (NYSE:NEU) Sets New 12-Month High – Should You Buy?

Shares of NewMarket Co. (NYSE:NEU) reached a new 52-week high on Monday . The company traded as high as $656.71 and last traded at $650.62, with a volume of 301389 shares. The stock had previously closed at $644.62.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded NewMarket from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 19th.

NewMarket Trading Up 0.7%

The company has a current ratio of 2.75, a quick ratio of 1.40 and a debt-to-equity ratio of 0.66. The business has a 50 day moving average price of $604.44 and a 200-day moving average price of $555.75. The firm has a market capitalization of $6.12 billion, a PE ratio of 13.46 and a beta of 0.41.

NewMarket (NYSE:NEU) last issued its earnings results on Wednesday, April 23rd. The specialty chemicals company reported $13.26 EPS for the quarter. The company had revenue of $700.95 million for the quarter. NewMarket had a net margin of 16.59% and a return on equity of 35.48%.

NewMarket Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 16th will be paid a dividend of $2.75 per share. This represents a $11.00 annualized dividend and a dividend yield of 1.70%. The ex-dividend date is Monday, June 16th. NewMarket’s dividend payout ratio (DPR) is 21.89%.

Insider Buying and Selling

In other NewMarket news, CAO Bruce R. Hazelgrove III sold 311 shares of the company’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $642.43, for a total value of $199,795.73. Following the sale, the chief accounting officer now owns 358 shares of the company’s stock, valued at $229,989.94. This represents a 46.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 19.10% of the company’s stock.

Hedge Funds Weigh In On NewMarket

Several hedge funds have recently bought and sold shares of the stock. Barclays PLC grew its stake in NewMarket by 34.5% in the 3rd quarter. Barclays PLC now owns 4,813 shares of the specialty chemicals company’s stock worth $2,656,000 after acquiring an additional 1,235 shares during the period. Janney Montgomery Scott LLC acquired a new position in NewMarket in the fourth quarter valued at $252,000. Blue Trust Inc. lifted its position in NewMarket by 55.3% during the fourth quarter. Blue Trust Inc. now owns 118 shares of the specialty chemicals company’s stock worth $65,000 after buying an additional 42 shares during the period. Empowered Funds LLC lifted its position in NewMarket by 61.3% during the fourth quarter. Empowered Funds LLC now owns 1,490 shares of the specialty chemicals company’s stock worth $787,000 after buying an additional 566 shares during the period. Finally, Van ECK Associates Corp boosted its stake in NewMarket by 51.9% in the 4th quarter. Van ECK Associates Corp now owns 7,774 shares of the specialty chemicals company’s stock worth $4,107,000 after buying an additional 2,655 shares during the last quarter. Hedge funds and other institutional investors 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.