First Quadrant L P CA acquired a new position in NewMarket Co. (NYSE:NEU) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 3,665 shares of the specialty chemicals company’s stock, valued at approximately $1,469,000.
A number of other hedge funds also recently made changes to their positions in the business. Martingale Asset Management L P boosted its stake in shares of NewMarket by 28.6% in the 1st quarter. Martingale Asset Management L P now owns 900 shares of the specialty chemicals company’s stock valued at $391,000 after purchasing an additional 200 shares in the last quarter. WINTON GROUP Ltd raised its holdings in NewMarket by 10.1% during the 2nd quarter. WINTON GROUP Ltd now owns 59,603 shares of the specialty chemicals company’s stock valued at $23,897,000 after buying an additional 5,461 shares during the last quarter. Rockefeller Capital Management L.P. bought a new stake in NewMarket during the 1st quarter valued at $673,000. Great West Life Assurance Co. Can raised its holdings in NewMarket by 28.2% during the 1st quarter. Great West Life Assurance Co. Can now owns 7,004 shares of the specialty chemicals company’s stock valued at $3,032,000 after buying an additional 1,539 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in NewMarket by 5.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 95,846 shares of the specialty chemicals company’s stock valued at $39,495,000 after buying an additional 4,644 shares during the last quarter. 54.62% of the stock is currently owned by institutional investors and hedge funds.
Shares of NewMarket stock traded up $20.20 during trading on Tuesday, hitting $468.08. The company’s stock had a trading volume of 3,539 shares, compared to its average volume of 98,555. NewMarket Co. has a 52 week low of $352.89 and a 52 week high of $470.98. The business’s fifty day moving average price is $419.34. The firm has a market capitalization of $4.98 billion, a P/E ratio of 23.00 and a beta of 0.52. The company has a debt-to-equity ratio of 1.22, a current ratio of 2.93 and a quick ratio of 1.60.NewMarket (NYSE:NEU) last announced its quarterly earnings results on Wednesday, July 31st. The specialty chemicals company reported $6.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.16 by $1.47. The firm had revenue of $563.42 million for the quarter. NewMarket had a net margin of 11.70% and a return on equity of 47.25%. As a group, equities research analysts anticipate that NewMarket Co. will post 23.63 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 16th will be issued a dividend of $1.90 per share. This represents a $7.60 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date is Friday, September 13th. This is an increase from NewMarket’s previous quarterly dividend of $1.75. NewMarket’s dividend payout ratio (DPR) is presently 34.41%.
A number of equities research analysts recently commented on NEU shares. Buckingham Research upgraded shares of NewMarket from an “underperform” rating to a “neutral” rating and set a $420.00 price objective for the company in a report on Friday, August 2nd. Zacks Investment Research upgraded shares of NewMarket from a “hold” rating to a “strong-buy” rating and set a $512.00 price objective for the company in a report on Friday.
NewMarket Corporation, through its subsidiaries, engages in the petroleum additives businesses. 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, metalworking fluids, and other applications where metal-to-metal moving parts are utilized; and engine oil, driveline, and industrial additives.
Featured Story: What is the downside to momentum investing?
Receive News & Ratings for NewMarket Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for NewMarket and related companies with MarketBeat.com’s FREE daily email newsletter.