NewMarket (NYSE:NEU) Hits New 52-Week Low – Here’s Why

NewMarket Co. (NYSE:NEU)’s share price hit a new 52-week low during mid-day trading on Monday . The company traded as low as $480.00 and last traded at $481.00, with a volume of 1712 shares traded. The stock had previously closed at $482.93.

NewMarket Trading Up 0.7 %

The firm’s 50 day moving average is $533.10 and its 200 day moving average is $538.96. The company has a market cap of $4.67 billion, a PE ratio of 10.80 and a beta of 0.50. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.83 and a quick ratio of 1.50.

NewMarket (NYSE:NEU) last announced its quarterly 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 firm had revenue of $724.95 million during the quarter.

NewMarket Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 16th were given a dividend of $2.50 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $10.00 dividend on an annualized basis and a dividend yield of 2.06%. NewMarket’s dividend payout ratio (DPR) is presently 22.21%.

Hedge Funds Weigh In On NewMarket

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Headlands Technologies LLC purchased a new position in shares of NewMarket in the 2nd quarter worth about $33,000. Quest Partners LLC bought a new stake in NewMarket in the 2nd quarter worth approximately $38,000. Blue Trust Inc. boosted its stake in NewMarket by 590.9% in the third quarter. Blue Trust Inc. now owns 76 shares of the specialty chemicals company’s stock worth $39,000 after buying an additional 65 shares in the last quarter. Eagle Bay Advisors LLC bought a new position in NewMarket during the fourth quarter valued at approximately $40,000. Finally, Ashton Thomas Private Wealth LLC purchased a new position in shares of NewMarket during the second quarter worth approximately $54,000. Hedge funds and other institutional investors own 61.09% of the company’s stock.

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.