NewMarket Corporation (NYSE:NEU – Get Free Report)’s stock price crossed below its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $763.38 and traded as low as $756.58. NewMarket shares last traded at $759.4240, with a volume of 166,709 shares changing hands.
Analysts Set New Price Targets
Several research analysts have recently issued reports on NEU shares. Weiss Ratings upgraded shares of NewMarket from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 8th. Wall Street Zen raised shares of 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 MarketBeat.com, NewMarket currently has a consensus rating of “Buy”.
View Our Latest Stock Report on NEU
NewMarket Price Performance
The company has a debt-to-equity ratio of 0.47, a current ratio of 2.25 and a quick ratio of 1.23. The company has a market capitalization of $6.99 billion, a PE ratio of 15.40 and a beta of 0.55. The firm has a 50-day moving average of $889.53 and a 200 day moving average of $763.38.
NewMarket (NYSE:NEU – Get Free Report) last issued its earnings results on Wednesday, October 28th. The specialty chemicals company reported $13.50 earnings per share for the quarter. The business had revenue of $716.50 million during the quarter. NewMarket had a return on equity of 25.64% and a net margin of 16.51%.
NewMarket Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, January 1st. Investors of record on Tuesday, December 15th will be issued a $3.25 dividend. This is an increase from NewMarket’s previous quarterly dividend of $3.00. This represents a $13.00 annualized dividend and a yield of 1.7%. The ex-dividend date is Tuesday, December 15th. NewMarket’s dividend payout ratio is 24.34%.
Institutional Investors Weigh In On NewMarket
A number of large investors have recently added to or reduced their stakes in the stock. Entropy Technologies LP bought a new stake in shares of NewMarket during the 1st quarter valued at about $1,751,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of NewMarket in the 2nd quarter worth approximately $2,250,000. The Manufacturers Life Insurance Company bought a new position in shares of NewMarket in the 2nd quarter worth approximately $4,354,000. BlackRock Inc. bought a new position in shares of NewMarket in the 2nd quarter worth approximately $556,339,000. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of NewMarket in the second quarter worth approximately $1,463,000. Institutional investors own 61.09% of the company’s stock.
About NewMarket
NewMarket Corporation (NYSE: NEU) is a holding company focused primarily on the development, manufacture and sale of petroleum additives. Its products are used to improve the performance, durability, efficiency and environmental characteristics of fuels, lubricants and other petroleum-based products.
NewMarket’s principal operating businesses include Afton Chemical Corporation and Ethyl Corporation. Afton Chemical develops and supplies additive packages and components for engine oils, transmission fluids, hydraulic fluids, fuels and other industrial applications.
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