NewMarket (NYSE:NEU) Shares Cross Above 200-Day Moving Average – Here’s What Happened

NewMarket Corporation (NYSE:NEU) shares crossed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $791.53 and traded as high as $908.50. NewMarket shares last traded at $895.3930, with a volume of 107,480 shares trading hands.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Weiss Ratings upgraded shares of NewMarket from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday. Wall Street Zen upgraded NewMarket from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. One research analyst has rated the stock with a Buy rating. According to data from MarketBeat.com, NewMarket presently has an average rating of “Buy”.

NewMarket Stock Performance

The firm has a market capitalization of $8.24 billion, a PE ratio of 19.26 and a beta of 0.55. The company has a current ratio of 2.25, a quick ratio of 1.23 and a debt-to-equity ratio of 0.47. The business’s 50 day simple moving average is $906.21 and its two-hundred day simple moving average is $791.53.

NewMarket (NYSE:NEU) last announced its earnings results on Wednesday, July 29th. The specialty chemicals company reported $14.54 EPS for the quarter. The business had revenue of $747.09 million during the quarter. NewMarket had a net margin of 15.80% and a return on equity of 24.62%.

NewMarket Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th were issued a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend was Tuesday, September 15th. NewMarket’s payout ratio is 25.82%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of NEU. Trust Co. of Vermont bought a new position in shares of NewMarket during the 2nd quarter valued at approximately $28,000. Towarzystwo Funduszy Inwestycyjnych PZU SA grew its stake in shares of NewMarket by 50.0% during the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 75 shares of the specialty chemicals company’s stock worth $52,000 after acquiring an additional 25 shares during the last quarter. Johnson Financial Group Inc. purchased a new position in shares of NewMarket during the second quarter worth $64,000. MV Capital Management Inc. purchased a new stake in NewMarket during the fourth quarter worth $92,000. Finally, Strs Ohio increased its stake in shares of NewMarket by 12.7% in the 1st quarter. Strs Ohio now owns 151 shares of the specialty chemicals company’s stock valued at $97,000 after purchasing an additional 17 shares in the last quarter. 61.09% of the stock is owned by hedge funds and other institutional investors.

About NewMarket

NewMarket Corporation (NYSE: NEU) is a Richmond, Virginia-based holding company that develops, manufactures and distributes petroleum additives through its subsidiaries, primarily Afton Chemical Corporation and Ethyl Corporation. Its products are designed to improve the performance, efficiency, reliability and cleanliness of fuels and lubricants.

Afton Chemical supplies additive packages and components for automotive, transportation, industrial and other applications. Its offerings include gasoline and diesel fuel additives, engine-oil and transmission-fluid additives, and products for industrial lubricants and related petroleum-based applications.