NewMarket Co. (NYSE:NEU) Sees Significant Growth in Short Interest

NewMarket Co. (NYSE:NEU) was the target of a large growth in short interest during the month of September. As of September 15th, there was short interest totalling 73,500 shares, a growth of 18.2% from the August 31st total of 62,200 shares. Based on an average trading volume of 30,900 shares, the days-to-cover ratio is presently 2.4 days. Approximately 0.9% of the company’s shares are sold short.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of NewMarket from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 6th.

NewMarket Stock Down 0.2 %

Shares of NYSE NEU traded down $0.84 during midday trading on Monday, reaching $551.89. The company’s stock had a trading volume of 24,653 shares, compared to its average volume of 37,625. The company has a current ratio of 2.66, a quick ratio of 1.48 and a debt-to-equity ratio of 0.95. NewMarket has a fifty-two week low of $436.90 and a fifty-two week high of $650.00. The stock has a market capitalization of $5.29 billion, a price-to-earnings ratio of 13.17 and a beta of 0.50. The stock has a 50 day simple moving average of $553.77 and a 200-day simple moving average of $557.74.

NewMarket (NYSE:NEU) last posted its quarterly earnings data on Monday, July 29th. The specialty chemicals company reported $11.63 earnings per share (EPS) for the quarter. NewMarket had a net margin of 15.12% and a return on equity of 37.06%. The company had revenue of $710.23 million for the quarter.

NewMarket Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 16th will be issued a $2.50 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $10.00 dividend on an annualized basis and a dividend yield of 1.81%. NewMarket’s dividend payout ratio (DPR) is presently 24.06%.

Insider Buying and Selling

In other NewMarket news, CAO Bruce R. Hazelgrove III sold 1,270 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $544.31, for a total transaction of $691,273.70. Following the sale, the chief accounting officer now directly owns 358 shares in the company, valued at approximately $194,862.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 20.40% of the stock is owned by insiders.

Institutional Trading of NewMarket

Hedge funds and other institutional investors have recently made changes to their positions in the business. ORG Partners LLC bought a new position in shares of NewMarket in the first quarter valued at $30,000. UMB Bank n.a. grew its stake in shares of NewMarket by 64.5% in the first quarter. UMB Bank n.a. now owns 51 shares of the specialty chemicals company’s stock valued at $32,000 after buying an additional 20 shares in the last quarter. Janiczek Wealth Management LLC grew its stake in shares of NewMarket by 1,300.0% in the first quarter. Janiczek Wealth Management LLC now owns 56 shares of the specialty chemicals company’s stock valued at $36,000 after buying an additional 52 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of NewMarket in the second quarter valued at $33,000. Finally, Quest Partners LLC bought a new position in shares of NewMarket in the second quarter valued at $38,000. 61.09% of the stock is currently owned by institutional investors and hedge funds.

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.