NewMarket Co. (NYSE:NEU) Short Interest Up 18.2% in September

NewMarket Co. (NYSE:NEU - Get Free Report) saw a significant increase in short interest in 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 trading volume of 30,900 shares, the days-to-cover ratio is presently 2.4 days.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of NewMarket from a "buy" rating to a "strong-buy" rating in a report on Tuesday, August 6th.

NewMarket Price Performance

NYSE NEU traded down $1.34 on Monday, reaching $551.39. The company's stock had a trading volume of 24,659 shares, compared to its average volume of 37,625. NewMarket has a twelve month low of $436.90 and a twelve month high of $650.00. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.48 and a current ratio of 2.66. The stock has a market cap of $5.29 billion, a PE ratio of 13.17 and a beta of 0.50. The firm's 50 day moving average is $553.77 and its two-hundred day moving average is $557.74.

NewMarket (NYSE:NEU - Get Free Report) last posted its quarterly earnings data on Monday, July 29th. The specialty chemicals company reported $11.63 earnings per share (EPS) for the quarter. The firm had revenue of $710.23 million for the quarter. NewMarket had a return on equity of 37.06% and a net margin of 15.12%.

NewMarket Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 16th will be given a dividend of $2.50 per share. This represents a $10.00 annualized dividend and a yield of 1.81%. The ex-dividend date is Monday, September 16th. NewMarket's payout ratio is presently 24.06%.

Insider Activity

In other news, CAO Bruce R. Hazelgrove III sold 1,270 shares of the business's stock in a transaction on Friday, August 9th. The shares were sold at an average price of $544.31, for a total transaction of $691,273.70. Following the completion of the transaction, the chief accounting officer now owns 358 shares of the company's stock, valued at $194,862.98. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 20.40% of the company's stock.

Hedge Funds Weigh In On NewMarket

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Treasurer of the State of North Carolina grew its holdings in NewMarket by 51.9% during the fourth quarter. Treasurer of the State of North Carolina now owns 4,160 shares of the specialty chemicals company's stock valued at $2,271,000 after purchasing an additional 1,421 shares during the last quarter. Alaska Permanent Fund Corp grew its holdings in NewMarket by 142.6% during the first quarter. Alaska Permanent Fund Corp now owns 17,320 shares of the specialty chemicals company's stock valued at $10,992,000 after purchasing an additional 10,182 shares during the last quarter. Virtu Financial LLC acquired a new position in NewMarket during the fourth quarter valued at approximately $957,000. Great Valley Advisor Group Inc. grew its holdings in NewMarket by 31.9% during the second quarter. Great Valley Advisor Group Inc. now owns 4,367 shares of the specialty chemicals company's stock valued at $2,251,000 after purchasing an additional 1,056 shares during the last quarter. Finally, Lazard Asset Management LLC grew its holdings in NewMarket by 102.6% during the first quarter. Lazard Asset Management LLC now owns 36,368 shares of the specialty chemicals company's stock valued at $23,079,000 after purchasing an additional 18,413 shares during the last quarter. Institutional investors own 61.09% of the company's stock.

NewMarket Company Profile

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.