NewMarket (NYSE:NEU) Stock Passes Above Two Hundred Day Moving Average – Should You Sell?

NewMarket Corporation (NYSE:NEU) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-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 changing hands.

Wall Street Analyst Weigh In

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

NewMarket Trading Down 3.0%

The firm has a 50-day moving average of $714.70 and a 200 day moving average of $686.75. The company has a current ratio of 2.55, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $7.27 billion, a price-to-earnings ratio of 18.06 and a beta of 0.56.

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

NewMarket Dividend Announcement

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

Hedge Funds Weigh In On NewMarket

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its stake in NewMarket by 6.8% during the 4th quarter. GAMMA Investing LLC now owns 235 shares of the specialty chemicals company’s stock valued at $162,000 after purchasing an additional 15 shares in the last quarter. Strs Ohio boosted its stake in shares of NewMarket by 12.7% during the 1st quarter. Strs Ohio now owns 151 shares of the specialty chemicals company’s stock worth $97,000 after acquiring an additional 17 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of NewMarket by 0.3% during the 1st quarter. The Manufacturers Life Insurance Company now owns 5,253 shares of the specialty chemicals company’s stock worth $3,367,000 after acquiring an additional 17 shares in the last quarter. OneDigital Investment Advisors LLC boosted its stake in shares of NewMarket by 5.8% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 329 shares of the specialty chemicals company’s stock worth $273,000 after acquiring an additional 18 shares in the last quarter. Finally, Kesler Norman & Wride LLC boosted its stake in shares of NewMarket by 1.6% during the 1st quarter. Kesler Norman & Wride LLC now owns 1,227 shares of the specialty chemicals company’s stock worth $786,000 after acquiring an additional 19 shares in the last quarter. 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.