Longboard Asset Management LP Takes $269,000 Position in NewMarket Corporation $NEU

Longboard Asset Management LP purchased a new stake in shares of NewMarket Corporation (NYSE:NEU) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 389 shares of the specialty chemicals company’s stock, valued at approximately $269,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. MassMutual Private Wealth & Trust FSB raised its holdings in shares of NewMarket by 557.1% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 46 shares of the specialty chemicals company’s stock valued at $26,000 after purchasing an additional 39 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its holdings in shares of NewMarket by 587.5% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 55 shares of the specialty chemicals company’s stock worth $31,000 after buying an additional 47 shares during the period. Private Trust Co. NA grew its stake in NewMarket by 185.2% in the 1st quarter. Private Trust Co. NA now owns 77 shares of the specialty chemicals company’s stock valued at $44,000 after buying an additional 50 shares during the last quarter. Whipplewood Advisors LLC grew its stake in NewMarket by 7,700.0% in the 1st quarter. Whipplewood Advisors LLC now owns 78 shares of the specialty chemicals company’s stock valued at $44,000 after buying an additional 77 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in NewMarket by 100.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78 shares of the specialty chemicals company’s stock valued at $44,000 after buying an additional 39 shares during the last quarter. Institutional investors own 61.09% of the company’s stock.

NewMarket Trading Up 1.9%

Shares of NEU stock opened at $831.54 on Thursday. NewMarket Corporation has a 12-month low of $480.00 and a 12-month high of $854.75. The company has a market capitalization of $7.82 billion, a P/E ratio of 16.48 and a beta of 0.49. The firm has a 50-day moving average price of $767.28 and a 200 day moving average price of $664.03. The company has a quick ratio of 1.43, a current ratio of 2.66 and a debt-to-equity ratio of 0.52.

NewMarket (NYSE:NEU) last announced its quarterly earnings results on Wednesday, July 30th. The specialty chemicals company reported $11.84 earnings per share (EPS) for the quarter. NewMarket had a net margin of 17.28% and a return on equity of 32.25%. The firm had revenue of $698.51 million during the quarter.

NewMarket Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 15th will be issued a $2.75 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $11.00 dividend on an annualized basis and a dividend yield of 1.3%. NewMarket’s dividend payout ratio (DPR) is currently 21.80%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded shares of NewMarket from a “buy” rating to a “hold” rating in a report on Saturday, August 30th.

About NewMarket

NewMarket Corporation, through its subsidiaries, primarily engages in the manufacture and sale of petroleum additives. 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, and other applications where metal-to-metal moving parts are utilized; engine oil additives designed for passenger cars, motorcycles, on and off-road heavy duty commercial equipment, locomotives, and engines in ocean-going vessels; driveline additives designed for products, such as transmission fluids, axle fluids, and off-road powertrain fluids; and industrial additives designed for products for industrial applications consisting of hydraulic fluids, grease, industrial gear fluids, and industrial specialty applications, such as turbine oils.