NewMarket Co. (NYSE:NEU) Sees Large Growth in Short Interest

NewMarket Co. (NYSE:NEU) was the recipient of a large increase in short interest during the month of October. As of October 31st, there was short interest totalling 80,100 shares, an increase of 22.1% from the October 15th total of 65,600 shares. Based on an average trading volume of 27,200 shares, the short-interest ratio is presently 2.9 days. Approximately 1.0% of the shares of the company are sold short.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded NewMarket from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 6th.

NewMarket Trading Up 0.9 %

Shares of NewMarket stock traded up $4.93 during trading hours on Friday, reaching $549.61. 17,590 shares of the company’s stock were exchanged, compared to its average volume of 35,362. The company has a current ratio of 2.83, a quick ratio of 1.50 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $5.28 billion, a price-to-earnings ratio of 12.21 and a beta of 0.50. The company has a fifty day moving average of $541.59 and a 200-day moving average of $541.70. NewMarket has a 52-week low of $494.04 and a 52-week high of $650.00.

NewMarket (NYSE:NEU) last released its quarterly earnings data on Wednesday, October 23rd. The specialty chemicals company reported $13.79 EPS for the quarter. The company had revenue of $724.95 million for the quarter. NewMarket had a return on equity of 35.79% and a net margin of 15.57%.

NewMarket Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 16th will be issued a $2.50 dividend. The ex-dividend date is Monday, December 16th. This represents a $10.00 dividend on an annualized basis and a yield of 1.82%. NewMarket’s dividend payout ratio is currently 22.21%.

Institutional Investors Weigh In On NewMarket

A number of hedge funds have recently made changes to their positions in the business. State Street Corp grew its position in NewMarket by 4.1% during the 3rd quarter. State Street Corp now owns 229,372 shares of the specialty chemicals company’s stock worth $127,132,000 after purchasing an additional 8,979 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in shares of NewMarket in the 3rd quarter valued at $408,000. Quantinno Capital Management LP lifted its position in NewMarket by 3.0% during the 3rd quarter. Quantinno Capital Management LP now owns 1,675 shares of the specialty chemicals company’s stock worth $924,000 after acquiring an additional 48 shares during the last quarter. Readystate Asset Management LP acquired a new position in NewMarket during the 3rd quarter worth $789,000. Finally, HighTower Advisors LLC increased its holdings in shares of NewMarket by 7.7% during the 3rd quarter. HighTower Advisors LLC now owns 5,390 shares of the specialty chemicals company’s stock worth $2,997,000 after purchasing an additional 385 shares during the period. Institutional investors own 61.09% of the company’s stock.

About NewMarket

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.