NewMarket (NYSE:NEU) Reaches New 52-Week Low – Time to Sell?

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

NewMarket Stock Performance

The company has a current ratio of 2.83, a quick ratio of 1.50 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $4.70 billion, a price-to-earnings ratio of 10.88 and a beta of 0.50. The stock’s 50-day moving average is $534.75 and its 200-day moving average is $539.25.

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 return on equity of 35.79% and a net margin of 15.57%. The firm had revenue of $724.95 million for the quarter.

NewMarket Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 16th were issued a dividend of $2.50 per share. This represents a $10.00 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend was Monday, December 16th. NewMarket’s payout ratio is presently 22.21%.

Institutional Trading of NewMarket

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. State Street Corp lifted its position in shares of NewMarket by 4.1% in the 3rd quarter. State Street Corp now owns 229,372 shares of the specialty chemicals company’s stock worth $127,132,000 after purchasing an additional 8,979 shares during the period. Pacer Advisors Inc. lifted its holdings in 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 buying an additional 77,908 shares during the period. Allspring Global Investments Holdings LLC boosted its position in NewMarket by 0.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 170,893 shares of the specialty chemicals company’s stock valued at $94,314,000 after acquiring an additional 537 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in NewMarket by 8.2% during the 2nd 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 during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of NewMarket by 10.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 78,746 shares of the specialty chemicals company’s stock worth $43,459,000 after acquiring an additional 7,719 shares in the last quarter. Institutional investors and hedge funds own 61.09% of the company’s stock.

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.