NewMarket Co. (NYSE:NEU – Get Free Report) was the target of a large decline in short interest during the month of June. As of June 15th, there was short interest totalling 81,800 shares, a decline of 12.7% from the May 31st total of 93,700 shares. Approximately 1.2% of the shares of the company are sold short. Based on an average daily volume of 38,900 shares, the days-to-cover ratio is presently 2.1 days.
Analyst Ratings Changes
Separately, StockNews.com downgraded NewMarket from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 20th.
Read Our Latest Analysis on NewMarket
Hedge Funds Weigh In On NewMarket
NewMarket Stock Performance
NewMarket stock traded up $2.94 during trading hours on Tuesday, hitting $523.50. 27,995 shares of the stock traded hands, compared to its average volume of 41,862. The company has a debt-to-equity ratio of 1.11, a current ratio of 2.86 and a quick ratio of 1.60. The firm’s 50 day moving average price is $539.14 and its 200-day moving average price is $574.69. The stock has a market capitalization of $5.02 billion, a price-to-earnings ratio of 12.52 and a beta of 0.47. NewMarket has a 1 year low of $402.01 and a 1 year high of $650.00.
NewMarket (NYSE:NEU – Get Free Report) last issued its earnings results on Wednesday, April 24th. The specialty chemicals company reported $11.23 EPS for the quarter. NewMarket had a return on equity of 38.99% and a net margin of 14.82%. The firm had revenue of $696.74 million for the quarter.
NewMarket Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Friday, June 14th were paid a $2.50 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $10.00 dividend on an annualized basis and a dividend yield of 1.91%. NewMarket’s payout ratio is 24.06%.
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.
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