Martingale Asset Management L P lifted its position in NewMarket Corporation (NYSE:NEU) by 3.9% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 13,200 shares of the specialty chemicals company’s stock after purchasing an additional 500 shares during the period. Martingale Asset Management L P owned 0.11% of NewMarket Corporation worth $6,080,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Waldron LP purchased a new stake in NewMarket Corporation during the first quarter worth $225,000. Russell Investments Group Ltd. lifted its holdings in NewMarket Corporation by 74.1% during the first quarter. Russell Investments Group Ltd. now owns 23,071 shares of the specialty chemicals company’s stock worth $10,456,000 after buying an additional 9,823 shares during the period. BB&T Corp lifted its holdings in NewMarket Corporation by 9.0% during the first quarter. BB&T Corp now owns 567 shares of the specialty chemicals company’s stock worth $257,000 after buying an additional 47 shares during the period. Canada Pension Plan Investment Board purchased a new stake in NewMarket Corporation during the first quarter worth $1,813,000. Finally, Great West Life Assurance Co. Can lifted its holdings in NewMarket Corporation by 3.4% during the first quarter. Great West Life Assurance Co. Can now owns 5,588 shares of the specialty chemicals company’s stock worth $2,529,000 after buying an additional 183 shares during the period. Hedge funds and other institutional investors own 55.53% of the company’s stock.
NewMarket Corporation (NEU) opened at 421.73 on Wednesday. The stock’s 50 day moving average price is $432.61 and its 200-day moving average price is $450.58. NewMarket Corporation has a 12 month low of $386.90 and a 12 month high of $483.86. The firm has a market capitalization of $5.00 billion, a P/E ratio of 20.50 and a beta of 0.75.
NewMarket Corporation (NYSE:NEU) last issued its quarterly earnings results on Wednesday, August 2nd. The specialty chemicals company reported $5.29 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $5.73 by ($0.44). NewMarket Corporation had a net margin of 11.57% and a return on equity of 46.94%. The business had revenue of $547.20 million during the quarter, compared to analysts’ expectations of $570.10 million. During the same period in the prior year, the business earned $5.50 EPS. The business’s quarterly revenue was up 4.9% on a year-over-year basis. Equities analysts forecast that NewMarket Corporation will post $20.23 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 15th will be given a $1.75 dividend. The ex-dividend date is Thursday, September 14th. This represents a $7.00 annualized dividend and a yield of 1.66%. NewMarket Corporation’s dividend payout ratio is presently 34.03%.
Separately, BidaskClub lowered NewMarket Corporation from a “buy” rating to a “hold” rating in a report on Saturday, June 24th.
About NewMarket Corporation
NewMarket Corporation is a holding company. The Company is the parent company of Afton Chemical Corporation (Afton), Ethyl Corporation (Ethyl), NewMarket Services Corporation (NewMarket Services), and NewMarket Development Corporation (NewMarket Development). The Company operates through petroleum additives segment, which is primarily represented by Afton.
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