NewMarket (NYSE:NEU) Reaches New 52-Week High – Should You Buy?

NewMarket Corporation (NYSE:NEU) hit a new 52-week high on Monday . The stock traded as high as $968.09 and last traded at $969.1370, with a volume of 4612 shares. The stock had previously closed at $961.92.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on NEU shares. Weiss Ratings upgraded shares of NewMarket from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, June 12th. Wall Street Zen upgraded shares of NewMarket from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, NewMarket has a consensus rating of “Buy”.

NewMarket Price Performance

The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.23 and a current ratio of 2.25. The company has a 50-day simple moving average of $812.96 and a 200-day simple moving average of $716.88. The company has a market cap of $9.00 billion, a price-to-earnings ratio of 21.02 and a beta of 0.56.

NewMarket (NYSE:NEU) 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th will be given a $3.00 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $12.00 annualized dividend and a yield of 1.2%. NewMarket’s dividend payout ratio is presently 25.82%.

Institutional Investors Weigh In On NewMarket

Hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. acquired a new position in NewMarket during the second quarter worth about $556,339,000. Norges Bank purchased a new position in NewMarket in the fourth quarter valued at about $64,654,000. Caisse de depot et placement du Quebec acquired a new stake in shares of NewMarket during the 2nd quarter valued at approximately $72,517,000. AQR Capital Management LLC lifted its position in shares of NewMarket by 196.7% during the 3rd quarter. AQR Capital Management LLC now owns 137,943 shares of the specialty chemicals company’s stock valued at $114,246,000 after acquiring an additional 91,458 shares during the period. Finally, Corient Private Wealth LLC boosted its stake in shares of NewMarket by 7,743.0% during the 4th quarter. Corient Private Wealth LLC now owns 75,763 shares of the specialty chemicals company’s stock worth $52,069,000 after acquiring an additional 74,797 shares in the last quarter. Institutional investors and hedge funds own 61.09% of the company’s stock.

About NewMarket

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.