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| NEU Trading Below Director's Recent Buy PriceBy Dividend Channel Staff, Monday, February 4, 1:45 PM ET
There's an old saying on Wall Street about insider buying: there are many possible reasons to sell a stock, but only one reason to buy. Back on January 30, NewMarket Corp's Director, Mark M. Gambill, invested $128,035.00 into 500 shares of NEU, for a cost per share of $256.07. Bargain hunters tend to pay particular attention to insider buys like this one, because presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money. In trading on Monday, bargain hunters could buy shares of NewMarket Corp (NYSE:NEU) and achieve a cost basis even cheaper than Gambill, with shares changing hands as low as $255.16 per share. NewMarket Corp shares are currently trading off about 0.9% on the day. The chart below shows the one year performance of NEU shares, versus its 200 day moving average:
Looking at the chart above, NEU's low point in its 52 week range is $172.50 per share, with $291.10 as the 52 week high point — that compares with a last trade of $256.15. By comparison, below is a table showing the prices at which insider buying was recorded over the last six months:
The current annualized dividend paid by NewMarket Corp is $3.00/share, currently paid in quarterly installments, and its most recent dividend ex-date was on 12/05/2012. Below is a long-term dividend history chart for NEU, which can be of good help in judging whether the most recent dividend with approx. 1.2% annualized yield is likely to continue.
According to the ETF Finder at ETF Channel, NEU makes up 1.19% of the Dynamic Basic Materials Sector Portfolio ETF (AMEX:PYZ) which is trading lower by about 1.1% on the day Monday. See what other ETFs contain NEU » Special Offer: Free Sample Issue to the Preferred Stock List Newsletter plus 20% OFF your subscription
Find the right mix of model portfolios today at PortfolioChannel.com
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One Reason For Insiders to Buy
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