NewMarket Co. (NYSE:NEU) Short Interest Update

NewMarket Co. (NYSE:NEU) was the target of a significant growth in short interest in the month of 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. Approximately 0.9% of the company’s stock are short sold. Based on an average daily trading volume, of 30,900 shares, the short-interest ratio is presently 2.4 days.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded NewMarket from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 6th.

NewMarket Stock Performance

Shares of NEU traded down $5.30 during mid-day trading on Monday, reaching $547.43. The company had a trading volume of 7,080 shares, compared to its average volume of 37,526. 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 has a 52-week low of $436.90 and a 52-week high of $650.00. The stock has a 50 day moving average of $553.77 and a two-hundred day moving average of $557.74. The stock has a market capitalization of $5.25 billion, a P/E ratio of 13.19 and a beta of 0.50.

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

NewMarket Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 16th will be issued a dividend of $2.50 per share. The ex-dividend date is Monday, September 16th. This represents a $10.00 annualized dividend and a yield of 1.83%. NewMarket’s dividend payout ratio is presently 24.06%.

Insiders Place Their Bets

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

Hedge Funds Weigh In On NewMarket

Institutional investors have recently added to or reduced their stakes in the business. ORG Partners LLC purchased a new position in shares of NewMarket in the 1st quarter valued at $30,000. UMB Bank n.a. boosted its stake in NewMarket by 64.5% during the 1st quarter. UMB Bank n.a. now owns 51 shares of the specialty chemicals company’s stock valued at $32,000 after acquiring an additional 20 shares during the last quarter. Headlands Technologies LLC acquired a new position in NewMarket in the second quarter worth about $33,000. Janiczek Wealth Management LLC increased its holdings in shares of NewMarket by 1,300.0% in the 1st quarter. Janiczek Wealth Management LLC now owns 56 shares of the specialty chemicals company’s stock valued at $36,000 after acquiring an additional 52 shares during the last quarter. Finally, Quest Partners LLC bought a new position in shares of NewMarket during the second quarter valued at approximately $38,000. 61.09% of the stock is currently owned by institutional investors and hedge funds.

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.