NewMarket (NYSE:NEU) Hits New 12-Month Low – Here’s What Happened

NewMarket Co. (NYSE:NEU)’s stock price reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $493.80 and last traded at $493.80, with a volume of 12163 shares traded. The stock had previously closed at $497.43.

NewMarket Stock Performance

The company has a quick ratio of 1.50, a current ratio of 2.83 and a debt-to-equity ratio of 0.80. The firm has a 50-day simple moving average of $536.60 and a 200 day simple moving average of $539.85. The company has a market cap of $4.67 billion, a price-to-earnings ratio of 10.81 and a beta of 0.50.

NewMarket (NYSE:NEU) last announced its earnings results on Wednesday, October 23rd. The specialty chemicals company reported $13.79 EPS for the quarter. NewMarket had a net margin of 15.57% and a return on equity of 35.79%. The business had revenue of $724.95 million for the quarter.

NewMarket Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 16th were issued a $2.50 dividend. This represents a $10.00 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend was Monday, December 16th. NewMarket’s payout ratio is currently 22.21%.

Hedge Funds Weigh In On NewMarket

Institutional investors have recently bought and sold shares of the company. Pacer Advisors Inc. boosted its holdings in shares of NewMarket by 64.7% in the second quarter. Pacer Advisors Inc. now owns 198,249 shares of the specialty chemicals company’s stock valued at $102,211,000 after acquiring an additional 77,908 shares in the last quarter. International Assets Investment Management LLC raised its stake in shares of NewMarket by 55,089.7% during the 3rd quarter. International Assets Investment Management LLC now owns 21,524 shares of the specialty chemicals company’s stock worth $11,879,000 after buying an additional 21,485 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of NewMarket by 5,480.4% in the 2nd quarter. Millennium Management LLC now owns 18,192 shares of the specialty chemicals company’s stock valued at $9,379,000 after buying an additional 17,866 shares during the period. Los Angeles Capital Management LLC boosted its stake in shares of NewMarket by 170.7% in the second quarter. Los Angeles Capital Management LLC now owns 23,633 shares of the specialty chemicals company’s stock valued at $12,184,000 after buying an additional 14,902 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in NewMarket by 8.2% in the second quarter. Dimensional Fund Advisors LP now owns 159,467 shares of the specialty chemicals company’s stock worth $82,214,000 after acquiring an additional 12,110 shares in the last quarter. 61.09% of the stock is owned by institutional investors and hedge funds.

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.