Impact Partnership Wealth LLC Buys New Position in NewMarket Corporation $NEU

Impact Partnership Wealth LLC bought a new stake in NewMarket Corporation (NYSE:NEU) in the 2nd quarter, Holdings Channel reports. The institutional investor bought 420 shares of the specialty chemicals company’s stock, valued at approximately $290,000.

Several other institutional investors have also recently added to or reduced their stakes in NEU. Wealth Enhancement Advisory Services LLC increased its position in NewMarket by 45.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 718 shares of the specialty chemicals company’s stock worth $407,000 after purchasing an additional 223 shares during the last quarter. Private Trust Co. NA boosted its stake in shares of NewMarket by 185.2% in the first quarter. Private Trust Co. NA now owns 77 shares of the specialty chemicals company’s stock valued at $44,000 after purchasing an additional 50 shares during the period. Teacher Retirement System of Texas boosted its stake in shares of NewMarket by 9.2% in the first quarter. Teacher Retirement System of Texas now owns 8,610 shares of the specialty chemicals company’s stock valued at $4,877,000 after purchasing an additional 722 shares during the period. Envestnet Asset Management Inc. boosted its stake in shares of NewMarket by 4.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 38,585 shares of the specialty chemicals company’s stock valued at $21,857,000 after buying an additional 1,584 shares during the last quarter. Finally, Crossmark Global Holdings Inc. purchased a new position in shares of NewMarket during the 1st quarter valued at approximately $257,000. Institutional investors and hedge funds own 61.09% of the company’s stock.

NewMarket Stock Up 0.2%

Shares of NYSE:NEU opened at $744.48 on Friday. The stock has a market capitalization of $7.00 billion, a price-to-earnings ratio of 14.76 and a beta of 0.45. NewMarket Corporation has a 1-year low of $480.00 and a 1-year high of $875.97. The company’s fifty day moving average is $807.88 and its two-hundred day moving average is $719.42. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.43 and a current ratio of 2.66.

NewMarket (NYSE:NEU) last issued its earnings results on Thursday, October 30th. The specialty chemicals company reported $10.67 earnings per share for the quarter. NewMarket had a net margin of 17.28% and a return on equity of 32.25%.

NewMarket Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 15th will be given a $3.00 dividend. This is a boost from NewMarket’s previous quarterly dividend of $2.75. This represents a $12.00 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Monday, December 15th. NewMarket’s dividend payout ratio is 21.80%.

Wall Street Analyst Weigh In

Several research firms have recently commented on NEU. Wall Street Zen cut NewMarket from a “buy” rating to a “hold” rating in a research note on Saturday, August 30th. Weiss Ratings reiterated a “buy (b+)” rating on shares of NewMarket in a research note on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy”.

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.