NewMarket (NYSE:NEU) Stock Crosses Above 200 Day Moving Average – Should You Sell?

Shares of NewMarket Corporation (NYSE:NEU) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $686.15 and traded as high as $690.63. NewMarket shares last traded at $687.4670, with a volume of 72,043 shares changing hands.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded NewMarket from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, March 20th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company presently has an average rating of “Hold”.

NewMarket Stock Up 0.2%

The firm has a market cap of $6.32 billion, a PE ratio of 15.70 and a beta of 0.52. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 2.55. The company’s 50-day simple moving average is $642.58 and its two-hundred day simple moving average is $686.15.

NewMarket (NYSE:NEU) last announced its quarterly earnings results on Wednesday, April 22nd. The specialty chemicals company reported $12.62 earnings per share for the quarter. NewMarket had a net margin of 15.25% and a return on equity of 24.12%. The business had revenue of $669.72 million during the quarter.

NewMarket Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th will be paid a dividend of $3.00 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $12.00 annualized dividend and a dividend yield of 1.7%. NewMarket’s payout ratio is 27.41%.

Insider Activity

In other NewMarket news, Director Ting Xu bought 400 shares of NewMarket stock in a transaction dated Tuesday, February 24th. The shares were purchased at an average cost of $619.21 per share, with a total value of $247,684.00. Following the completion of the purchase, the director owned 929 shares of the company’s stock, valued at approximately $575,246.09. This represents a 75.61% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 8.60% of the company’s stock.

Institutional Investors Weigh In On NewMarket

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. grew its stake in NewMarket by 3.1% in the third quarter. Envestnet Asset Management Inc. now owns 39,452 shares of the specialty chemicals company’s stock worth $32,675,000 after purchasing an additional 1,192 shares during the period. Natixis Advisors LLC lifted its holdings in shares of NewMarket by 16.4% during the third quarter. Natixis Advisors LLC now owns 28,785 shares of the specialty chemicals company’s stock valued at $23,840,000 after purchasing an additional 4,059 shares in the last quarter. Anfield Capital Management LLC bought a new position in shares of NewMarket during the third quarter valued at $2,321,000. Nisa Investment Advisors LLC lifted its holdings in shares of NewMarket by 151.3% during the third quarter. Nisa Investment Advisors LLC now owns 4,118 shares of the specialty chemicals company’s stock valued at $3,416,000 after purchasing an additional 2,479 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in NewMarket by 1.2% in the third quarter. Dimensional Fund Advisors LP now owns 179,702 shares of the specialty chemicals company’s stock valued at $148,820,000 after acquiring an additional 2,049 shares during the period. 61.09% of the stock is owned by hedge funds and other institutional investors.

NewMarket Company Profile

NewMarket Corporation is a specialty chemicals and lubricants company headquartered in Richmond, Virginia. Through its Valvoline business, the company markets a broad portfolio of automotive aftermarket products, including engine oils, transmission fluids, greases and vehicle care solutions. Valvoline products are distributed through retail and commercial channels as well as a network of quick-lube service centers that provide oil changes, preventive maintenance and related services.

In its chemical additives segment, NewMarket develops, manufactures and sells performance additives for fuels, lubricants and industrial fluids.