Martingale Asset Management L P boosted its stake in shares of NewMarket Corporation (NYSE:NEU) by 3.9% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund 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 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. US Bancorp DE lifted its position in shares of NewMarket Corporation by 2.5% in the first quarter. US Bancorp DE now owns 245 shares of the specialty chemicals company’s stock valued at $111,000 after buying an additional 6 shares during the last quarter. Shine Investment Advisory Services Inc. acquired a new stake in shares of NewMarket Corporation in the second quarter valued at approximately $128,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of NewMarket Corporation by 38.4% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 335 shares of the specialty chemicals company’s stock valued at $152,000 after buying an additional 93 shares during the last quarter. Waldron LP acquired a new stake in NewMarket Corporation during the 1st quarter worth approximately $225,000. Finally, Bronfman E.L. Rothschild L.P. acquired a new stake in NewMarket Corporation during the 1st quarter worth approximately $231,000. 55.33% of the stock is owned by hedge funds and other institutional investors.
Separately, BidaskClub cut NewMarket Corporation from a “buy” rating to a “hold” rating in a report on Saturday, June 24th.
NewMarket Corporation (NEU) opened at 425.74 on Wednesday. The stock has a 50 day moving average price of $425.36 and a 200 day moving average price of $449.78. NewMarket Corporation has a 52 week low of $386.90 and a 52 week high of $483.86. The company has a market cap of $5.05 billion, a price-to-earnings ratio of 20.69 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 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $5.73 by ($0.44). The business had revenue of $547.20 million for the quarter, compared to analysts’ expectations of $570.10 million. NewMarket Corporation had a return on equity of 46.94% and a net margin of 11.57%. The company’s revenue was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $5.50 EPS. On average, equities analysts forecast that NewMarket Corporation will post $20.23 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 15th will be paid a dividend of $1.75 per share. This represents a $7.00 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date of this dividend is Thursday, September 14th. NewMarket Corporation’s dividend payout ratio (DPR) is 34.03%.
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NewMarket Corporation Company Profile
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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