Insider Buying: NewMarket (NYSE:NEU) Director Buys $247,684.00 in Stock

NewMarket Corporation (NYSE:NEU) Director Ting Xu bought 400 shares of the firm’s stock in a transaction on Tuesday, February 24th. The shares were purchased at an average cost of $619.21 per share, with a total value of $247,684.00. Following the completion of the transaction, the director owned 929 shares in the company, valued at $575,246.09. This represents a 75.61% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

NewMarket Price Performance

NEU opened at $625.34 on Friday. The company has a market capitalization of $5.88 billion, a price-to-earnings ratio of 14.08 and a beta of 0.48. The company has a current ratio of 2.53, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. NewMarket Corporation has a 12-month low of $510.07 and a 12-month high of $875.97. The business’s fifty day simple moving average is $669.46 and its 200-day simple moving average is $745.75.

NewMarket (NYSE:NEU) last released its quarterly earnings data on Wednesday, February 11th. The specialty chemicals company reported $8.65 earnings per share for the quarter. NewMarket had a return on equity of 25.38% and a net margin of 15.37%.The firm had revenue of $635.40 million during the quarter.

NewMarket Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Monday, March 16th will be given a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Monday, March 16th. NewMarket’s dividend payout ratio is presently 27.01%.

Analyst Ratings Changes

Separately, Weiss Ratings lowered shares of NewMarket from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, February 13th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Institutional Investors Weigh In On NewMarket

Several hedge funds and other institutional investors have recently bought and sold shares of NEU. 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 last quarter. NewEdge Advisors LLC raised its position in shares of NewMarket by 1,442.4% during the 1st quarter. NewEdge Advisors LLC now owns 509 shares of the specialty chemicals company’s stock valued at $288,000 after buying an additional 476 shares during the period. United Services Automobile Association purchased a new stake in shares of NewMarket during the 1st quarter valued at approximately $266,000. Empowered Funds LLC lifted its holdings in NewMarket by 4.8% in the first quarter. Empowered Funds LLC now owns 1,562 shares of the specialty chemicals company’s stock valued at $885,000 after acquiring an additional 72 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in NewMarket by 9.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 22,268 shares of the specialty chemicals company’s stock valued at $12,614,000 after acquiring an additional 1,995 shares during the last quarter. 61.09% of the stock is currently owned by institutional investors and hedge funds.

NewMarket Company Profile

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.