NewMarket Corp (NEU) traded on unusually high volume on Feb. 05, as the stock gained 0.07% to close at $401.09. On the day, NewMarket Corp saw 81,486 shares trade hands on 1,071 trades. Considering that the stock averages only a daily volume of 40,073 shares a day over the last month, this represents a pretty significant bump in volume over the norm.
Generally speaking, when a stock experiences a sudden spike in trading volume, it may be seen as a bullish signal for investors. An increase in volume means more market awareness for the company, potentially setting up a more meaningful move in stock price. The added volume also provides a level of support and stability for price advances.
The stock has traded between $437.63 and $352.89 over the last 52-weeks, its 50-day SMA is now $401.48, and its 200-day SMA $392.99. NewMarket Corp has a P/B ratio of 8.11. It also has a P/E ratio of 26.5.
NewMarket Corp is a holding company that, through its subsidiaries, makes and sells petroleum additives. Petroleum additives are used in lubricating oils and fuels to enhance machine and automobile engine performance. The types of petroleum additives that NewMarket sells include engine oil additives and fuel additives. Engine oil additives are used to reduce friction and extend engine life for automobiles and heavy-duty commercial equipment. Fuel additives are mixed with gasoline and diesel fuels to increase automobile fuel economy and engine cleanliness. More revenue comes from the United States than any other geographic region.
Headquartered in Richmond, VA, NewMarket Corp has 2,223 employees and is currently under the leadership of CEO Thomas E. Gottwald.