NewMarket (NYSE:NEU) Stock Crosses Above 200 Day Moving Average – What’s Next?

NewMarket Corporation (NYSE:NEU)’s share price passed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $803.79 and traded as high as $885.24. NewMarket shares last traded at $880.8750, with a volume of 101,995 shares changing hands.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Wall Street Zen upgraded NewMarket from a “hold” rating to a “buy” rating in a report on Saturday, August 1st. Weiss Ratings upgraded NewMarket from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 8th. One analyst has rated the stock with a Buy rating. According to data from MarketBeat.com, NewMarket presently has an average rating of “Buy”.

NewMarket Trading Up 0.5%

The firm has a market capitalization of $8.14 billion, a P/E ratio of 19.03 and a beta of 0.55. The business’s 50-day moving average is $905.94 and its 200 day moving average is $805.49. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.25 and a quick ratio of 1.23.

NewMarket (NYSE:NEU) last announced its earnings results on Wednesday, July 29th. The specialty chemicals company reported $14.54 EPS for the quarter. The company had revenue of $747.09 million for the quarter. NewMarket had a net margin of 15.80% and a return on equity of 24.62%.

NewMarket Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Tuesday, September 15th were paid a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend was Tuesday, September 15th. NewMarket’s dividend payout ratio (DPR) is 25.82%.

Institutional Investors Weigh In On NewMarket

Large investors have recently modified their holdings of the business. Crossmark Global Holdings Inc. increased its stake in shares of NewMarket by 23.6% in the third quarter. Crossmark Global Holdings Inc. now owns 703 shares of the specialty chemicals company’s stock valued at $631,000 after buying an additional 134 shares during the period. Nisa Investment Advisors LLC boosted its position in NewMarket by 651.1% during the 3rd quarter. Nisa Investment Advisors LLC now owns 706 shares of the specialty chemicals company’s stock worth $634,000 after buying an additional 612 shares during the period. Krilogy Financial LLC boosted its position in NewMarket by 12.5% during the 3rd quarter. Krilogy Financial LLC now owns 352 shares of the specialty chemicals company’s stock worth $316,000 after buying an additional 39 shares during the period. NorthCrest Asset Manangement LLC boosted its position in NewMarket by 6.2% during the 3rd quarter. NorthCrest Asset Manangement LLC now owns 342 shares of the specialty chemicals company’s stock worth $309,000 after buying an additional 20 shares during the period. Finally, Wedmont Private Capital grew its holdings in NewMarket by 238.0% during the 3rd quarter. Wedmont Private Capital now owns 1,166 shares of the specialty chemicals company’s stock worth $1,054,000 after acquiring an additional 821 shares during the last quarter. Institutional investors and hedge funds own 61.09% of the company’s stock.

NewMarket Company Profile

NewMarket Corporation (NYSE: NEU) is a holding company focused primarily on the development, manufacture and sale of petroleum additives. Its products are used to improve the performance, durability, efficiency and environmental characteristics of fuels, lubricants and other petroleum-based products.

NewMarket’s principal operating businesses include Afton Chemical Corporation and Ethyl Corporation. Afton Chemical develops and supplies additive packages and components for engine oils, transmission fluids, hydraulic fluids, fuels and other industrial applications.