Swiss National Bank Has $10.64 Million Stake in NewMarket Corporation $NEU

Swiss National Bank reduced its stake in shares of NewMarket Corporation (NYSE:NEU) by 2.5% in the second quarter, HoldingsChannel.com reports. The firm owned 15,400 shares of the specialty chemicals company’s stock after selling 400 shares during the period. Swiss National Bank’s holdings in NewMarket were worth $10,639,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the stock. Impala Asset Management LLC purchased a new position in shares of NewMarket during the first quarter valued at approximately $36,819,000. American Century Companies Inc. boosted its holdings in NewMarket by 120.3% during the 1st quarter. American Century Companies Inc. now owns 105,120 shares of the specialty chemicals company’s stock worth $59,545,000 after acquiring an additional 57,403 shares during the last quarter. LSV Asset Management boosted its holdings in NewMarket by 27.8% during the 2nd quarter. LSV Asset Management now owns 262,148 shares of the specialty chemicals company’s stock worth $181,108,000 after acquiring an additional 57,101 shares during the last quarter. Brandywine Global Investment Management LLC bought a new stake in shares of NewMarket in the 1st quarter worth $19,348,000. Finally, Geode Capital Management LLC raised its holdings in shares of NewMarket by 20.1% in the second quarter. Geode Capital Management LLC now owns 156,613 shares of the specialty chemicals company’s stock valued at $108,212,000 after purchasing an additional 26,254 shares during the last quarter. Institutional investors own 61.09% of the company’s stock.

Wall Street Analysts Forecast Growth

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

NewMarket Stock Down 0.2%

NewMarket stock opened at $763.53 on Friday. NewMarket Corporation has a twelve month low of $480.00 and a twelve month high of $875.97. The firm has a 50 day moving average price of $784.05 and a 200-day moving average price of $743.73. The company has a market capitalization of $7.17 billion, a P/E ratio of 15.13 and a beta of 0.46. 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 posted its quarterly earnings results on Thursday, October 30th. The specialty chemicals company reported $10.67 EPS for the quarter. NewMarket had a net margin of 17.28% and a return on equity of 32.25%. The company had revenue of $690.31 million for the quarter.

NewMarket Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 15th will be given a dividend of $3.00 per share. The ex-dividend date of this dividend is Monday, December 15th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 1.6%. This is a boost from NewMarket’s previous quarterly dividend of $2.75. NewMarket’s payout ratio is currently 25.35%.

NewMarket 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.