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

NewMarket Co. (NYSE:NEUGet Rating) saw a large decline in short interest in March. As of March 31st, there was short interest totalling 77,300 shares, a decline of 42.0% from the March 15th total of 133,300 shares. Currently, 1.0% of the company’s stock are short sold. Based on an average trading volume of 35,200 shares, the days-to-cover ratio is currently 2.2 days.

Several equities research analysts have recently issued reports on NEU shares. TheStreet lowered NewMarket from a “b” rating to a “c” rating in a report on Thursday, February 3rd. StockNews.com upgraded NewMarket from a “hold” rating to a “buy” rating in a report on Wednesday.

Shares of NewMarket stock opened at $331.57 on Friday. The firm has a market cap of $3.42 billion, a price-to-earnings ratio of 18.86 and a beta of 0.35. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.91 and a quick ratio of 1.23. NewMarket has a 52-week low of $296.05 and a 52-week high of $391.69. The stock has a 50-day simple moving average of $321.43 and a 200-day simple moving average of $335.89.

NewMarket (NYSE:NEUGet Rating) last announced its quarterly earnings results on Wednesday, February 2nd. The specialty chemicals company reported $1.65 earnings per share (EPS) for the quarter. The business had revenue of $576.57 million during the quarter. NewMarket had a return on equity of 23.91% and a net margin of 8.10%.

The business also recently announced a quarterly dividend, which was paid on Friday, April 1st. Investors of record on Tuesday, March 15th were issued a $2.10 dividend. The ex-dividend date was Monday, March 14th. This represents a $8.40 annualized dividend and a yield of 2.53%. NewMarket’s dividend payout ratio (DPR) is currently 47.78%.

Institutional investors and hedge funds have recently bought and sold shares of the stock. CWM LLC acquired a new stake in NewMarket in the 4th quarter worth approximately $29,000. SouthState Corp acquired a new stake in NewMarket in the 3rd quarter worth approximately $89,000. US Bancorp DE lifted its holdings in NewMarket by 196.2% in the 3rd quarter. US Bancorp DE now owns 308 shares of the specialty chemicals company’s stock worth $104,000 after purchasing an additional 204 shares during the last quarter. Covestor Ltd acquired a new stake in NewMarket in the 4th quarter worth approximately $115,000. Finally, Signaturefd LLC lifted its holdings in NewMarket by 84.1% in the 3rd quarter. Signaturefd LLC now owns 589 shares of the specialty chemicals company’s stock worth $200,000 after purchasing an additional 269 shares during the last quarter. Hedge funds and other institutional investors own 68.64% of the company’s stock.

About NewMarket (Get Rating)

NewMarket Corp. operates as a holding company. The firm’s segments include petroleum, lubricant, fuel, engine oil and driveline additives. It develops and manufactures lubricant and fuel additive packages, as well as markets and sells these products. The company is also involved in the sale of tetraethyl lead.

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