NewMarket (NYSE:NEU) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

Shares of NewMarket Corporation (NYSE:NEU) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $683.13 and traded as high as $798.57. NewMarket shares last traded at $797.1930, with a volume of 143,526 shares.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings lowered shares of NewMarket from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, March 20th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company presently has an average rating of “Hold”.

NewMarket Price Performance

The firm has a market capitalization of $7.33 billion, a PE ratio of 18.21 and a beta of 0.52. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 2.55. The business’s 50 day moving average is $675.14 and its two-hundred day moving average is $683.13.

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

NewMarket Announces Dividend

The firm also recently disclosed 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. This represents a $12.00 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Monday, June 15th. NewMarket’s payout ratio is currently 27.41%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of NEU. Los Angeles Capital Management LLC bought a new position in NewMarket in the 4th quarter valued at $25,000. Ameriflex Group Inc. bought a new position in NewMarket in the 3rd quarter valued at $27,000. International Assets Investment Management LLC bought a new position in NewMarket in the 4th quarter valued at $27,000. Smartleaf Asset Management LLC boosted its holdings in NewMarket by 125.0% in the 3rd quarter. Smartleaf Asset Management LLC now owns 45 shares of the specialty chemicals company’s stock valued at $37,000 after purchasing an additional 25 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in NewMarket by 100.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78 shares of the specialty chemicals company’s stock valued at $44,000 after purchasing an additional 39 shares during the period. 61.09% of the stock is owned by institutional investors.

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.