2 weeks Ago By ABMN Staff
NewMarket Co. ( NYSE:NEU – Get Free Report ) was the recipient of a large increase in short interest during the month of September. As of September 15th, there was short interest totalling 73,500 shares, an increase of 18.
2% from the August 31st total of 62,200 shares. Currently, 0.9% of the shares of the company are sold short.
Based on an average daily volume of 30,900 shares, the days-to-cover ratio is presently 2.4 days. Insider Activity at NewMarket In other news, CAO Bruce R.
Hazelgrove III sold 1,270 shares of the stock in a transaction on Friday, August 9th. The shares were sold at an average price of $544.31, for a total value of $691,273.
70. Following the completion of the transaction, the chief accounting officer now owns 358 shares in the company, valued at approximately $194,862.98.
The sale was disclosed in a filing with the SEC, which is available at this link . Corporate insiders own 20.40% of the company’s stock.
Institutional Investors Weigh In On NewMarket Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in shares of NewMarket by 0.
6% in the 4th quarter. Vanguard Group Inc. now owns 722,184 shares of the specialty chemicals company’s stock valued at $394,190,000 after purchasing an additional 4,261 shares during the last quarter.
Pacer Advisors Inc. boosted its stake in shares of NewMarket by 64.7% in the 2nd quarter.
Pacer Advisors Inc. now owns 198,249 shares of the specialty chemicals company’s stock valued at $102,211,000 after purchasing an additional 77,908 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of NewMarket by 8.
2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 159,467 shares of the specialty chemicals company’s stock valued at $82,214,000 after purchasing an additional 12,110 shares during the last quarter. Norges Bank bought a new position in shares of NewMarket in the 4th quarter valued at about $37,659,000.
Finally, HB Wealth Management LLC boosted its stake in shares of NewMarket by 27.4% in the 2nd quarter. HB Wealth Management LLC now owns 39,504 shares of the specialty chemicals company’s stock valued at $20,367,000 after purchasing an additional 8,496 shares during the last quarter.
Institutional investors own 61.09% of the company’s stock. NewMarket Price Performance NewMarket ( NYSE:NEU – Get Free Report ) last announced its earnings results on Monday, July 29th.
The specialty chemicals company reported $11.63 earnings per share (EPS) for the quarter. NewMarket had a net margin of 15.
12% and a return on equity of 37.06%. The business had revenue of $710.
23 million during the quarter. NewMarket Announces Dividend The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 16th will be issued a dividend of $2.
50 per share. This represents a $10.00 dividend on an annualized basis and a yield of 1.
81%. The ex-dividend date of this dividend is Monday, September 16th. NewMarket’s dividend payout ratio is currently 24.
06%. Analysts Set New Price Targets Separately, StockNews.com upgraded shares of NewMarket from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 6th.
View Our Latest Stock Analysis on NEU About NewMarket ( Get Free Report ) NewMarket Corporation, through its subsidiaries, primarily engages in the manufacture and sale of petroleum additives. 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. Recommended Stories Receive News & Ratings for NewMarket Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NewMarket and related companies with MarketBeat.
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