StockNews.com cut shares of NewMarket (NYSE:NEU – Get Rating) from a strong-buy rating to a buy rating in a report released on Tuesday morning.
NewMarket Trading Up 1.5 %
Shares of NEU opened at $294.82 on Tuesday. The firm has a market cap of $2.95 billion, a price-to-earnings ratio of 15.73 and a beta of 0.36. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.41 and a current ratio of 2.60. NewMarket has a fifty-two week low of $285.60 and a fifty-two week high of $378.63. The firm has a 50 day moving average price of $301.58 and a 200-day moving average price of $316.73.
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The company also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Thursday, September 15th will be issued a dividend of $2.10 per share. The ex-dividend date is Wednesday, September 14th. This represents a $8.40 dividend on an annualized basis and a yield of 2.85%. NewMarket's dividend payout ratio is currently 44.82%.
Institutional Investors Weigh In On NewMarket
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SRS Capital Advisors Inc. raised its holdings in NewMarket by 15.6% during the 1st quarter. SRS Capital Advisors Inc. now owns 259 shares of the specialty chemicals company's stock valued at $84,000 after buying an additional 35 shares during the last quarter. Yousif Capital Management LLC raised its holdings in NewMarket by 1.1% during the 2nd quarter. Yousif Capital Management LLC now owns 3,814 shares of the specialty chemicals company's stock valued at $1,148,000 after buying an additional 40 shares during the last quarter. US Bancorp DE raised its holdings in NewMarket by 51.9% during the 2nd quarter. US Bancorp DE now owns 120 shares of the specialty chemicals company's stock valued at $36,000 after buying an additional 41 shares during the last quarter. Exchange Traded Concepts LLC raised its holdings in NewMarket by 2.2% during the 2nd quarter. Exchange Traded Concepts LLC now owns 2,015 shares of the specialty chemicals company's stock valued at $606,000 after buying an additional 44 shares during the last quarter. Finally, Xponance Inc. raised its holdings in NewMarket by 6.0% in the 2nd quarter. Xponance Inc. now owns 790 shares of the specialty chemicals company's stock worth $238,000 after purchasing an additional 45 shares in the last quarter. 54.72% of the stock is currently owned by institutional investors.NewMarket Company Profile
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NewMarket Corporation, through its subsidiaries, engages in the petroleum additives business. 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.
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