Short Interest in NewMarket Co. (NYSE:NEU) Rises By 18.2%

NewMarket Co. (NYSE:NEU) saw a large growth in short interest in September. As of September 15th, there was short interest totalling 73,500 shares, a growth of 18.2% from the August 31st total of 62,200 shares. Based on an average daily volume of 30,900 shares, the short-interest ratio is currently 2.4 days. Approximately 0.9% of the company’s shares are short sold.

Insider Activity

In other news, CAO Bruce R. Hazelgrove III sold 1,270 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $544.31, for a total transaction of $691,273.70. Following the transaction, the chief accounting officer now directly owns 358 shares of the company’s stock, valued at $194,862.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 20.40% of the stock is owned by corporate insiders.

Institutional Trading of NewMarket

Several large investors have recently added to or reduced their stakes in NEU. Sanctuary Advisors LLC bought a new stake in NewMarket during the 2nd quarter valued at approximately $428,000. Kestra Investment Management LLC purchased a new position in shares of NewMarket in the second quarter worth $361,000. Front Row Advisors LLC bought a new position in shares of NewMarket during the second quarter worth $220,000. Creative Planning grew its stake in NewMarket by 9.4% during the second quarter. Creative Planning now owns 1,105 shares of the specialty chemicals company’s stock valued at $570,000 after acquiring an additional 95 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC increased its holdings in NewMarket by 208.4% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 1,132 shares of the specialty chemicals company’s stock valued at $584,000 after acquiring an additional 765 shares during the last quarter. 61.09% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of NewMarket from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 6th.

NewMarket Stock Down 0.2 %

Shares of NYSE:NEU traded down $0.84 during midday trading on Monday, reaching $551.89. The company’s stock had a trading volume of 24,663 shares, compared to its average volume of 37,625. NewMarket has a 12-month low of $436.90 and a 12-month high of $650.00. The firm has a market capitalization of $5.29 billion, a P/E ratio of 13.17 and a beta of 0.50. The firm has a 50 day moving average of $553.77 and a 200-day moving average of $557.74. The company has a quick ratio of 1.48, a current ratio of 2.66 and a debt-to-equity ratio of 0.95.

NewMarket (NYSE:NEU) last issued its earnings results on Monday, July 29th. The specialty chemicals company reported $11.63 earnings per share (EPS) for the quarter. NewMarket had a net margin of 15.12% and a return on equity of 37.06%. The business had revenue of $710.23 million during the quarter.

NewMarket Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 16th will be given a dividend of $2.50 per share. This represents a $10.00 annualized dividend and a dividend yield of 1.81%. The ex-dividend date is Monday, September 16th. NewMarket’s payout ratio is currently 24.06%.

NewMarket Company Profile

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.