NewMarket (NYSE:NEU) Trading 8.6% Higher

NewMarket Co. (NYSE:NEU) shares traded up 8.6% during trading on Monday . The stock traded as high as $585.04 and last traded at $581.21. 11,645 shares traded hands during mid-day trading, a decline of 68% from the average session volume of 36,867 shares. The stock had previously closed at $535.21.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised NewMarket from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 6th.

NewMarket Price Performance

The stock has a market cap of $5.69 billion, a price-to-earnings ratio of 13.93 and a beta of 0.50. The company’s 50 day moving average is $545.12 and its 200 day moving average is $565.31. The company has a debt-to-equity ratio of 0.95, a current ratio of 2.66 and a quick ratio of 1.48.

NewMarket (NYSE:NEU) last issued its quarterly earnings results on Monday, July 29th. The specialty chemicals company reported $11.63 earnings per share for the quarter. NewMarket had a return on equity of 37.06% and a net margin of 15.12%. The company had revenue of $710.23 million for the quarter.

NewMarket Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 16th will be paid a $2.50 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $10.00 dividend on an annualized basis and a yield of 1.68%. NewMarket’s dividend payout ratio (DPR) is 24.06%.

Insider Activity at NewMarket

In other news, CAO Bruce R. Hazelgrove III sold 1,270 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $544.31, for a total transaction of $691,273.70. Following the completion of the transaction, the chief accounting officer now owns 358 shares in the company, valued at $194,862.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 20.40% of the company’s stock.

Institutional Trading of NewMarket

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in NewMarket by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 722,184 shares of the specialty chemicals company’s stock worth $394,190,000 after purchasing an additional 4,261 shares in the last quarter. Pacer Advisors Inc. grew its holdings in shares of NewMarket by 64.7% during the second quarter. Pacer Advisors Inc. now owns 198,249 shares of the specialty chemicals company’s stock valued at $102,211,000 after buying an additional 77,908 shares in the last quarter. Dimensional Fund Advisors LP raised its position in NewMarket by 8.2% during the second quarter. Dimensional Fund Advisors LP now owns 159,467 shares of the specialty chemicals company’s stock valued at $82,214,000 after buying an additional 12,110 shares during the period. Norges Bank acquired a new position in NewMarket during the fourth quarter valued at $37,659,000. Finally, HB Wealth Management LLC lifted its stake in NewMarket by 27.4% in the 2nd quarter. HB Wealth Management LLC now owns 39,504 shares of the specialty chemicals company’s stock worth $20,367,000 after acquiring an additional 8,496 shares in the last quarter. Institutional investors and hedge funds own 61.09% of the company’s stock.

About NewMarket

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.