NewMarket Corporation (NYSE:NEU) Short Interest Update

NewMarket Corporation (NYSE:NEU) was the target of a significant growth in short interest in the month of December. As of December 31st, there was short interest totaling 228,879 shares, a growth of 32.9% from the December 15th total of 172,219 shares. Based on an average daily volume of 130,085 shares, the days-to-cover ratio is presently 1.8 days. Approximately 3.0% of the shares of the stock are sold short. Approximately 3.0% of the shares of the stock are sold short. Based on an average daily volume of 130,085 shares, the days-to-cover ratio is presently 1.8 days.

NewMarket Trading Down 0.7%

NewMarket stock traded down $4.68 during mid-day trading on Monday, hitting $645.32. 158,400 shares of the stock were exchanged, compared to its average volume of 137,201. The stock has a market capitalization of $6.07 billion, a price-to-earnings ratio of 13.63 and a beta of 0.49. NewMarket has a 12 month low of $480.57 and a 12 month high of $875.97. The company has a quick ratio of 1.43, a current ratio of 2.68 and a debt-to-equity ratio of 0.46. The firm’s fifty day simple moving average is $734.00 and its two-hundred day simple moving average is $761.46.

NewMarket (NYSE:NEU) last issued its earnings results on Thursday, October 30th. The specialty chemicals company reported $10.67 earnings per share for the quarter. NewMarket had a return on equity of 28.53% and a net margin of 16.33%.The business had revenue of $690.31 million during the quarter.

NewMarket Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Monday, December 15th were issued a $3.00 dividend. The ex-dividend date was Monday, December 15th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 1.9%. This is a boost from NewMarket’s previous quarterly dividend of $2.75. NewMarket’s dividend payout ratio (DPR) is currently 25.35%.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “buy (b-)” rating on shares of NewMarket in a report on Monday, December 29th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy”.

Institutional Investors Weigh In On NewMarket

Institutional investors have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake 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 buying an additional 39 shares during the last quarter. NewEdge Advisors LLC grew its holdings in shares of NewMarket by 1,442.4% in the first quarter. NewEdge Advisors LLC now owns 509 shares of the specialty chemicals company’s stock valued at $288,000 after acquiring an additional 476 shares in the last quarter. United Services Automobile Association purchased a new stake in shares of NewMarket during the first quarter valued at approximately $266,000. Empowered Funds LLC increased its position in shares of NewMarket by 4.8% during 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% during 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 worth $12,614,000 after acquiring an additional 1,995 shares during the period. Institutional investors own 61.09% of the company’s stock.

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.