NewMarket Corporation (NYSE:NEU) Short Interest Update

NewMarket Corporation (NYSE:NEU) was the target of a significant growth in short interest during the month of March. As of March 13th, there was short interest totaling 617,168 shares, a growth of 31.6% from the February 26th total of 468,930 shares. Currently, 7.2% of the shares of the stock are short sold. Based on an average daily volume of 170,040 shares, the days-to-cover ratio is currently 3.6 days.

NewMarket Trading Up 1.6%

NEU stock traded up $10.11 during midday trading on Tuesday, hitting $638.30. The stock had a trading volume of 47,241 shares, compared to its average volume of 154,283. The company’s 50-day moving average price is $636.41 and its 200 day moving average price is $717.38. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.53 and a quick ratio of 1.33. The firm has a market cap of $6.00 billion, a PE ratio of 14.38 and a beta of 0.50. NewMarket has a 12-month low of $510.07 and a 12-month high of $875.97.

NewMarket (NYSE:NEU) last posted its quarterly earnings data on Wednesday, February 11th. The specialty chemicals company reported $8.65 earnings per share (EPS) for the quarter. The business had revenue of $635.40 million for the quarter. NewMarket had a return on equity of 25.38% and a net margin of 15.37%.

NewMarket Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Monday, March 16th will be issued a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Monday, March 16th. NewMarket’s dividend payout ratio is presently 27.01%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut NewMarket from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, March 20th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has a consensus rating of “Hold”.

Insider Buying and Selling at NewMarket

In related news, Director Ting Xu acquired 400 shares of the business’s stock in a transaction that occurred on Tuesday, February 24th. The stock was purchased at an average cost of $619.21 per share, for a total transaction of $247,684.00. Following the transaction, the director directly owned 929 shares of the company’s stock, valued at approximately $575,246.09. This trade represents a 75.61% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 8.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On NewMarket

A number of institutional investors have recently bought and sold shares of the stock. Envestnet Asset Management Inc. lifted its position in shares of NewMarket by 3.1% during the third quarter. Envestnet Asset Management Inc. now owns 39,452 shares of the specialty chemicals company’s stock worth $32,675,000 after purchasing an additional 1,192 shares during the last quarter. Monument Capital Management bought a new stake in NewMarket in the third quarter valued at about $2,548,000. Anfield Capital Management LLC bought a new stake in NewMarket in the third quarter valued at about $2,321,000. Nisa Investment Advisors LLC raised its stake in NewMarket by 151.3% during the third quarter. Nisa Investment Advisors LLC now owns 4,118 shares of the specialty chemicals company’s stock valued at $3,416,000 after buying an additional 2,479 shares in the last quarter. Finally, Advisors Asset Management Inc. raised its stake in NewMarket by 221.5% during the third quarter. Advisors Asset Management Inc. now owns 2,662 shares of the specialty chemicals company’s stock valued at $2,205,000 after buying an additional 1,834 shares in the last quarter. 61.09% of the stock is currently owned by hedge funds and other institutional investors.

NewMarket Company Profile

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.