NewMarket (NYSE:NEU) Sees Large Volume Increase – Should You Buy?

Shares of NewMarket Corporation (NYSE:NEU) saw unusually-strong trading volume on Wednesday . Approximately 102,340 shares changed hands during trading, an increase of 29% from the previous session’s volume of 79,099 shares.The stock last traded at $760.5850 and had previously closed at $749.56.

Wall Street Analyst Weigh In

NEU has been the subject of several research reports. Wall Street Zen lowered shares of NewMarket from a “buy” rating to a “hold” rating in a research report on Saturday, August 30th. Weiss Ratings restated a “buy (b)” rating on shares of NewMarket in a report on Monday. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, NewMarket currently has a consensus rating of “Buy”.

NewMarket Trading Up 1.5%

The company has a debt-to-equity ratio of 0.46, a current ratio of 2.68 and a quick ratio of 1.43. The stock has a market cap of $7.15 billion, a price-to-earnings ratio of 16.07 and a beta of 0.49. The business’s 50 day moving average is $775.17 and its 200 day moving average is $750.74.

NewMarket (NYSE:NEU) last announced its quarterly earnings results on Thursday, October 30th. The specialty chemicals company reported $10.67 earnings per share (EPS) for the quarter. NewMarket had a return on equity of 28.53% and a net margin of 16.33%.The firm had revenue of $690.31 million during the quarter.

NewMarket Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 15th will be paid a $3.00 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a $12.00 annualized dividend and a yield of 1.6%. This is an increase from NewMarket’s previous quarterly dividend of $2.75. NewMarket’s dividend payout ratio is presently 23.24%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Ameriflex Group Inc. purchased a new stake in NewMarket in the 3rd quarter valued at approximately $27,000. Winnow Wealth LLC acquired a new stake in shares of NewMarket during the 3rd quarter worth about $29,000. Root Financial Partners LLC purchased a new stake in shares of NewMarket during the third quarter worth about $30,000. Caitong International Asset Management Co. Ltd raised its position in shares of NewMarket by 587.5% in the first quarter. Caitong International Asset Management Co. Ltd now owns 55 shares of the specialty chemicals company’s stock valued at $31,000 after buying an additional 47 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its stake in shares of NewMarket by 125.0% during the third quarter. Smartleaf Asset Management LLC now owns 45 shares of the specialty chemicals company’s stock valued at $37,000 after buying an additional 25 shares during the period. 61.09% of the stock is owned by hedge funds and other institutional investors.

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.