NewMarket (NYSE:NEU) Stock Price Passes Above 200-Day Moving Average – What’s Next?

NewMarket Corporation (NYSE:NEU)’s stock price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $686.75 and traded as high as $813.50. NewMarket shares last traded at $790.68, with a volume of 91,450 shares trading hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded NewMarket from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, June 12th. One analyst has rated the stock with a Buy rating, According to MarketBeat, the company presently has an average rating of “Buy”.

NewMarket Stock Up 1.8%

The company has a quick ratio of 1.37, a current ratio of 2.55 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $7.15 billion, a PE ratio of 17.75 and a beta of 0.56. The firm’s fifty day moving average is $719.86 and its 200-day moving average is $686.83.

NewMarket (NYSE:NEU) last released its earnings results on Wednesday, April 22nd. The specialty chemicals company reported $12.62 earnings per share (EPS) for the quarter. The company had revenue of $669.72 million for the quarter. NewMarket had a return on equity of 24.12% and a net margin of 15.25%.

NewMarket Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 15th will be paid a $3.00 dividend. The ex-dividend date is Monday, June 15th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 1.5%. NewMarket’s payout ratio is 27.41%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Norges Bank purchased a new stake in shares of NewMarket during the 4th quarter worth $64,654,000. AQR Capital Management LLC increased its holdings in shares of NewMarket by 196.7% in the 3rd quarter. AQR Capital Management LLC now owns 137,943 shares of the specialty chemicals company’s stock valued at $114,246,000 after purchasing an additional 91,458 shares in the last quarter. Caisse de depot et placement du Quebec lifted its stake in shares of NewMarket by 376.4% in the third quarter. Caisse de depot et placement du Quebec now owns 99,256 shares of the specialty chemicals company’s stock valued at $82,205,000 after purchasing an additional 78,422 shares during the period. Corient Private Wealth LLC lifted its stake in shares of NewMarket by 7,743.0% in the fourth quarter. Corient Private Wealth LLC now owns 75,763 shares of the specialty chemicals company’s stock valued at $52,069,000 after purchasing an additional 74,797 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in NewMarket by 1,807.5% during the first quarter. Arrowstreet Capital Limited Partnership now owns 54,612 shares of the specialty chemicals company’s stock worth $35,004,000 after buying an additional 51,749 shares in the last quarter. Hedge funds and other institutional investors own 61.09% of the company’s stock.

About NewMarket

NewMarket Corporation is a specialty chemicals and lubricants company headquartered in Richmond, Virginia. Through its Valvoline business, the company markets a broad portfolio of automotive aftermarket products, including engine oils, transmission fluids, greases and vehicle care solutions. Valvoline products are distributed through retail and commercial channels as well as a network of quick-lube service centers that provide oil changes, preventive maintenance and related services.

In its chemical additives segment, NewMarket develops, manufactures and sells performance additives for fuels, lubricants and industrial fluids.