NewMarket (NYSE:NEU) Hits New 52-Week High at $513.17

NewMarket Co. (NYSE:NEU) shares hit a new 52-week high on Wednesday . The stock traded as high as $513.17 and last traded at $512.99, with a volume of 800 shares changing hands. The stock had previously closed at $511.19.

Analyst Ratings Changes

Separately, StockNews.com raised shares of NewMarket from a “buy” rating to a “strong-buy” rating in a report on Friday, October 13th.

NewMarket Stock Down 0.3 %

The company has a 50 day moving average of $462.83 and a 200-day moving average of $437.69. The company has a market capitalization of $4.89 billion, a P/E ratio of 12.37 and a beta of 0.37. The company has a debt-to-equity ratio of 0.80, a current ratio of 3.21 and a quick ratio of 1.69.

NewMarket Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 15th will be paid a dividend of $2.25 per share. The ex-dividend date is Thursday, December 14th. This represents a $9.00 annualized dividend and a dividend yield of 1.77%. NewMarket’s dividend payout ratio (DPR) is presently 21.79%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in NEU. Treasurer of the State of North Carolina boosted its stake in shares of NewMarket by 0.7% during the 3rd quarter. Treasurer of the State of North Carolina now owns 2,739 shares of the specialty chemicals company’s stock valued at $1,246,000 after purchasing an additional 20 shares in the last quarter. Xponance Inc. boosted its position in NewMarket by 3.1% during the 3rd quarter. Xponance Inc. now owns 805 shares of the specialty chemicals company’s stock valued at $366,000 after acquiring an additional 24 shares in the last quarter. Commonwealth Equity Services LLC grew its holdings in shares of NewMarket by 2.1% during the 1st quarter. Commonwealth Equity Services LLC now owns 1,336 shares of the specialty chemicals company’s stock worth $487,000 after acquiring an additional 28 shares during the period. US Bancorp DE grew its holdings in shares of NewMarket by 15.6% during the 1st quarter. US Bancorp DE now owns 215 shares of the specialty chemicals company’s stock worth $78,000 after acquiring an additional 29 shares during the period. Finally, Inspire Investing LLC raised its position in shares of NewMarket by 4.4% in the 2nd quarter. Inspire Investing LLC now owns 778 shares of the specialty chemicals company’s stock worth $313,000 after acquiring an additional 33 shares in the last quarter. 60.99% of the stock is owned by hedge funds and other institutional investors.

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.