NewMarket Co. (NYSE:NEU) was the recipient of a significant decrease in short interest in August. As of August 31st, there was short interest totalling 209,700 shares, a decrease of 12.5% from the July 31st total of 239,600 shares. Currently, 2.4% of the shares of the stock are short sold. Based on an average daily volume of 77,700 shares, the short-interest ratio is presently 2.7 days.

A number of institutional investors and hedge funds have recently bought and sold shares of NEU. Atria Investments LLC purchased a new position in NewMarket in the 2nd quarter worth about $1,316,000. BlackRock Inc. increased its stake in NewMarket by 0.4% in the 2nd quarter. BlackRock Inc. now owns 768,325 shares of the specialty chemicals company’s stock worth $308,052,000 after buying an additional 3,062 shares during the period. Magnetar Financial LLC increased its stake in NewMarket by 1.9% in the 2nd quarter. Magnetar Financial LLC now owns 2,282 shares of the specialty chemicals company’s stock worth $915,000 after buying an additional 42 shares during the period. Royal Bank of Canada increased its stake in NewMarket by 17.4% in the 2nd quarter. Royal Bank of Canada now owns 18,921 shares of the specialty chemicals company’s stock worth $7,587,000 after buying an additional 2,810 shares during the period. Finally, Eaton Vance Management increased its stake in NewMarket by 5.2% in the 2nd quarter. Eaton Vance Management now owns 41,466 shares of the specialty chemicals company’s stock worth $16,625,000 after buying an additional 2,061 shares during the period. 55.50% of the stock is owned by institutional investors.

A number of analysts have recently issued reports on NEU shares. Zacks Investment Research raised shares of NewMarket from a “hold” rating to a “strong-buy” rating and set a $512.00 price objective for the company 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 research note on Friday, August 2nd.

NEU traded up $0.01 during trading on Thursday, hitting $455.53. 1,012 shares of the company traded hands, compared to its average volume of 58,193. The company has a market cap of $5.11 billion, a PE ratio of 22.39 and a beta of 0.46. The stock’s 50-day simple moving average is $458.65 and its two-hundred day simple moving average is $428.94. NewMarket has a 1 year low of $352.89 and a 1 year high of $489.11. The company has a current ratio of 2.93, a quick ratio of 1.60 and a debt-to-equity ratio of 1.22.

NewMarket (NYSE:NEU) last posted its earnings results on Wednesday, July 31st. The specialty chemicals company reported $6.63 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $5.16 by $1.47. The company had revenue of $563.42 million during the quarter. NewMarket had a net margin of 11.70% and a return on equity of 47.25%. Equities analysts expect that NewMarket will post 23.63 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 16th will be paid a dividend of $1.90 per share. This represents a $7.60 annualized dividend and a yield of 1.67%. This is a boost from NewMarket’s previous quarterly dividend of $1.75. The ex-dividend date is Friday, September 13th. NewMarket’s dividend payout ratio (DPR) is presently 34.41%.

About NewMarket

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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