Aviva PLC Raises Stock Holdings in NewMarket Corporation $NEU

Aviva PLC increased its holdings in shares of NewMarket Corporation (NYSE:NEU) by 37.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,529 shares of the specialty chemicals company’s stock after purchasing an additional 416 shares during the period. Aviva PLC’s holdings in NewMarket were worth $1,056,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd grew its stake in shares of NewMarket by 587.5% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 55 shares of the specialty chemicals company’s stock valued at $31,000 after purchasing an additional 47 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of NewMarket by 100.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78 shares of the specialty chemicals company’s stock worth $44,000 after purchasing an additional 39 shares during the period. ST Germain D J Co. Inc. purchased a new position in NewMarket in the 2nd quarter valued at $83,000. Northwestern Mutual Wealth Management Co. increased its stake in NewMarket by 13.1% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 198 shares of the specialty chemicals company’s stock valued at $112,000 after buying an additional 23 shares during the period. Finally, GAMMA Investing LLC increased its stake in NewMarket by 12.6% in the 2nd quarter. GAMMA Investing LLC now owns 205 shares of the specialty chemicals company’s stock valued at $142,000 after buying an additional 23 shares during the period. 61.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NEU has been the topic of several analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of NewMarket in a report on Tuesday. Wall Street Zen lowered NewMarket from a “buy” rating to a “hold” rating in a report on Saturday, August 30th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy”.

NewMarket Price Performance

Shares of NYSE:NEU opened at $787.14 on Thursday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.43 and a current ratio of 2.66. The business’s fifty day moving average price is $800.37 and its two-hundred day moving average price is $733.17. The stock has a market cap of $7.40 billion, a PE ratio of 15.60 and a beta of 0.46. NewMarket Corporation has a one year low of $480.00 and a one year high of $875.97.

NewMarket (NYSE:NEU) last announced its earnings results on Thursday, October 30th. The specialty chemicals company reported $10.67 earnings per share for the quarter. The firm had revenue of $690.31 million during 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 declared a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 15th will be issued a $3.00 dividend. This is a boost from NewMarket’s previous quarterly dividend of $2.75. The ex-dividend date is Monday, December 15th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 1.5%. NewMarket’s dividend payout ratio (DPR) is 25.35%.

NewMarket Company Profile

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.