Short Interest in NewMarket Co. (NYSE:NEU) Declines By 34.4%

NewMarket Co. (NYSE:NEU) was the recipient of a significant drop in short interest during the month of March. As of March 31st, there was short interest totalling 107,200 shares, a drop of 34.4% from the March 15th total of 163,500 shares. Based on an average daily trading volume, of 48,600 shares, the short-interest ratio is presently 2.2 days. Currently, 1.4% of the company’s shares are sold short.

Institutional Trading of NewMarket

A number of institutional investors have recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC lifted its position in shares of NewMarket by 45.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 718 shares of the specialty chemicals company’s stock worth $407,000 after purchasing an additional 223 shares in the last quarter. SG Americas Securities LLC bought a new stake in NewMarket in the first quarter valued at approximately $399,000. Farther Finance Advisors LLC lifted its holdings in NewMarket by 34.1% during the 1st quarter. Farther Finance Advisors LLC now owns 444 shares of the specialty chemicals company’s stock valued at $252,000 after purchasing an additional 113 shares during the last quarter. Park Avenue Securities LLC boosted its holdings in shares of NewMarket by 3.2% during the 1st quarter. Park Avenue Securities LLC now owns 1,310 shares of the specialty chemicals company’s stock worth $742,000 after buying an additional 41 shares during the period. Finally, UMB Bank n.a. grew its position in shares of NewMarket by 39.2% in the first quarter. UMB Bank n.a. now owns 103 shares of the specialty chemicals company’s stock valued at $58,000 after purchasing an additional 29 shares during the last quarter. 61.09% of the stock is currently owned by institutional investors.

NewMarket Trading Up 1.3 %

NEU traded up $7.45 during mid-day trading on Thursday, hitting $566.14. The stock had a trading volume of 16,528 shares, compared to its average volume of 36,550. The stock’s fifty day simple moving average is $547.48 and its 200-day simple moving average is $532.94. The firm has a market capitalization of $5.37 billion, a price-to-earnings ratio of 11.73 and a beta of 0.44. NewMarket has a 1-year low of $480.00 and a 1-year high of $596.89. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.75 and a quick ratio of 1.40.

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

NewMarket Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th were given a dividend of $2.75 per share. This is an increase from NewMarket’s previous quarterly dividend of $2.50. The ex-dividend date of this dividend was Monday, March 17th. This represents a $11.00 annualized dividend and a dividend yield of 1.94%. NewMarket’s dividend payout ratio is currently 22.82%.

Analysts Set New Price Targets

Separately, StockNews.com cut 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.