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

NewMarket Co. (NYSE:NEU - Get Free Report) was the recipient of a significant growth in short interest in the month of March. As of March 15th, there was short interest totalling 163,500 shares, a growth of 51.1% from the February 28th total of 108,200 shares. Based on an average trading volume of 47,100 shares, the short-interest ratio is currently 3.5 days. Approximately 2.1% of the shares of the company are short sold.

NewMarket Price Performance

Shares of NewMarket stock traded down $15.06 on Thursday, reaching $551.22. The stock had a trading volume of 5,625 shares, compared to its average volume of 45,857. The business's 50 day moving average is $536.70 and its two-hundred day moving average is $533.17. The company has a market cap of $5.23 billion, a P/E ratio of 11.43 and a beta of 0.41. NewMarket has a 1 year low of $480.00 and a 1 year high of $626.93. The company has a current ratio of 2.75, a quick ratio of 1.40 and a debt-to-equity ratio of 0.66.

NewMarket (NYSE:NEU - Get Free Report) last announced its quarterly earnings results on Monday, February 3rd. The specialty chemicals company reported $11.56 EPS for the quarter. NewMarket had a net margin of 16.59% and a return on equity of 35.48%.

NewMarket Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 17th were given a dividend of $2.75 per share. This represents a $11.00 annualized dividend and a yield of 2.00%. This is a boost from NewMarket's previous quarterly dividend of $2.50. The ex-dividend date of this dividend was Monday, March 17th. NewMarket's payout ratio is presently 22.82%.

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Hedge Funds Weigh In On NewMarket

Institutional investors have recently added to or reduced their stakes in the business. MassMutual Private Wealth & Trust FSB grew its holdings in shares of NewMarket by 557.1% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 46 shares of the specialty chemicals company's stock worth $26,000 after purchasing an additional 39 shares in the last quarter. California State Teachers Retirement System lifted its position in NewMarket by 11.1% during the fourth quarter. California State Teachers Retirement System now owns 7,524 shares of the specialty chemicals company's stock valued at $3,975,000 after purchasing an additional 749 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in NewMarket by 33.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 495 shares of the specialty chemicals company's stock worth $262,000 after buying an additional 123 shares in the last quarter. Great Valley Advisor Group Inc. increased its holdings in shares of NewMarket by 11.4% in the 4th quarter. Great Valley Advisor Group Inc. now owns 8,318 shares of the specialty chemicals company's stock worth $4,395,000 after buying an additional 853 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of NewMarket by 12.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 20,273 shares of the specialty chemicals company's stock valued at $10,711,000 after buying an additional 2,165 shares in the last quarter. 61.09% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com lowered NewMarket from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, February 19th.

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.