NewMarket (NYSE:NEU) Reaches New 52-Week High – Should You Buy?

NewMarket Corporation (NYSE:NEUGet Free Report) reached a new 52-week high on Monday . The stock traded as high as $968.09 and last traded at $969.1370, with a volume of 4612 shares trading hands. The stock had previously closed at $961.92.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on NEU. Weiss Ratings raised NewMarket from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, June 12th. Wall Street Zen raised NewMarket from a “hold” rating to a “buy” rating in a report on Saturday, August 1st. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy”.

Check Out Our Latest Stock Analysis on NewMarket

NewMarket Price Performance

The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.23 and a current ratio of 2.25. The stock has a market capitalization of $9.00 billion, a PE ratio of 21.02 and a beta of 0.56. The company’s fifty day simple moving average is $812.96 and its two-hundred day simple moving average is $716.88.

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

NewMarket Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 15th will be given a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Tuesday, September 15th. NewMarket’s payout ratio is currently 25.82%.

Institutional Investors Weigh In On NewMarket

A number of large investors have recently bought and sold shares of NEU. Vanguard Group Inc. raised its holdings in shares of NewMarket by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 828,798 shares of the specialty chemicals company’s stock worth $569,600,000 after acquiring an additional 15,813 shares during the last quarter. BlackRock Inc. purchased a new stake in shares of NewMarket in the second quarter valued at $556,339,000. Dimensional Fund Advisors LP boosted its stake in shares of NewMarket by 6.7% during the first quarter. Dimensional Fund Advisors LP now owns 194,507 shares of the specialty chemicals company’s stock valued at $124,658,000 after acquiring an additional 12,172 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of NewMarket by 5.4% during the fourth quarter. Geode Capital Management LLC now owns 175,649 shares of the specialty chemicals company’s stock valued at $120,737,000 after acquiring an additional 8,978 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in NewMarket by 196.7% during the 3rd quarter. AQR Capital Management LLC now owns 137,943 shares of the specialty chemicals company’s stock worth $114,246,000 after purchasing an additional 91,458 shares in the last quarter. Institutional investors and hedge funds own 61.09% of the company’s stock.

About NewMarket

(Get Free Report)

NewMarket Corporation is a specialty chemicals and lubricants company headquartered in Richmond, Virginia. Through its Valvoline business, the company markets a broad portfolio of automotive aftermarket products, including engine oils, transmission fluids, greases and vehicle care solutions. Valvoline products are distributed through retail and commercial channels as well as a network of quick-lube service centers that provide oil changes, preventive maintenance and related services.

In its chemical additives segment, NewMarket develops, manufactures and sells performance additives for fuels, lubricants and industrial fluids.

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