NewMarket Corp (NEU) has been rated in the top 25% of dividend stocks by Dividend Channel based on its strong fundamentals and attractive valuation. On Thursday, NEU shares fell to $281.99, entering oversold territory with a Relative Strength Index (RSI) reading of 27.5, compared to an average RSI of 41.2 for its coverage universe. This decline presents a potential buying opportunity for investors, especially given NEU’s annualized dividend of $8.40, equating to a dividend yield of 2.92% based on a recent share price of $287.21.
With the current RSI indicating a potential exhaustion of selling pressure, bullish investors may see it as a timely entry point. Evaluating NEU’s dividend history could help investors assess its reliability as a dividend stock moving forward.
