NewMarket (NYSE:NEU) Hits New 52-Week High at $484.52

NewMarket Co. (NYSE:NEU) reached a new 52-week high during trading on Thursday . The company traded as high as $484.52 and last traded at $484.52, with a volume of 4 shares. The stock had previously closed at $471.51.

NEU has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded shares of NewMarket from a “hold” rating to a “strong-buy” rating and set a $512.00 target price on the stock in a research note on Friday, August 9th. Buckingham Research raised shares of NewMarket from an “underperform” rating to a “neutral” rating and set a $420.00 price objective for the company in a report on Friday, August 2nd.

The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.60 and a current ratio of 2.93. The business’s fifty day simple moving average is $432.11 and its 200-day simple moving average is $423.93. The firm has a market capitalization of $5.27 billion, a PE ratio of 23.74 and a beta of 0.52.

NewMarket (NYSE:NEU) last announced its quarterly earnings data on Wednesday, July 31st. The specialty chemicals company reported $6.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.16 by $1.47. NewMarket had a net margin of 11.70% and a return on equity of 47.25%. The business had revenue of $563.42 million during the quarter. Sell-side analysts expect that NewMarket Co. will post 23.63 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 16th will be issued a $1.90 dividend. The ex-dividend date is Friday, September 13th. This is a positive change from NewMarket’s previous quarterly dividend of $1.75. This represents a $7.60 dividend on an annualized basis and a dividend yield of 1.60%. NewMarket’s dividend payout ratio (DPR) is 34.41%.

Several hedge funds have recently bought and sold shares of the stock. Magnetar Financial LLC raised its holdings in shares of NewMarket by 1.9% in the second quarter. Magnetar Financial LLC now owns 2,282 shares of the specialty chemicals company’s stock valued at $915,000 after acquiring an additional 42 shares in the last quarter. Royal Bank of Canada raised its holdings in shares of NewMarket by 17.4% in the second quarter. Royal Bank of Canada now owns 18,921 shares of the specialty chemicals company’s stock valued at $7,587,000 after acquiring an additional 2,810 shares in the last quarter. Eaton Vance Management raised its holdings in shares of NewMarket by 5.2% in the second quarter. Eaton Vance Management now owns 41,466 shares of the specialty chemicals company’s stock valued at $16,625,000 after acquiring an additional 2,061 shares in the last quarter. Nuveen Asset Management LLC bought a new stake in shares of NewMarket in the second quarter valued at about $7,120,000. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of NewMarket by 17.8% in the second quarter. Price T Rowe Associates Inc. MD now owns 78,680 shares of the specialty chemicals company’s stock valued at $31,546,000 after acquiring an additional 11,878 shares in the last quarter. 57.03% of the stock is owned by hedge funds and other institutional investors.

About NewMarket (NYSE:NEU)

NewMarket Corporation, through its subsidiaries, engages in the petroleum additives businesses. 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, metalworking fluids, and other applications where metal-to-metal moving parts are utilized; and engine oil, driveline, and industrial additives.

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