Walleye Capital LLC Invests $2.38 Million in NewMarket Corporation $NEU

Walleye Capital LLC purchased a new position in NewMarket Corporation (NYSE:NEU) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 3,446 shares of the specialty chemicals company’s stock, valued at approximately $2,381,000.

Several other institutional investors and hedge funds also recently made changes to their positions in NEU. Caitong International Asset Management Co. Ltd boosted its position in 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 valued at $31,000 after buying an additional 47 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in NewMarket by 100.0% in 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 in the last quarter. ST Germain D J Co. Inc. purchased a new stake in shares of NewMarket in the 2nd quarter worth about $83,000. MAI Capital Management increased its stake in shares of NewMarket by 20.8% in the 2nd quarter. MAI Capital Management now owns 122 shares of the specialty chemicals company’s stock worth $84,000 after acquiring an additional 21 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of NewMarket by 88.8% during the second quarter. EverSource Wealth Advisors LLC now owns 151 shares of the specialty chemicals company’s stock valued at $104,000 after purchasing an additional 71 shares during the last quarter. Institutional investors own 61.09% of the company’s stock.

NewMarket Price Performance

Shares of NEU stock opened at $765.38 on Monday. NewMarket Corporation has a 1-year low of $480.00 and a 1-year high of $875.97. The company has a market cap of $7.19 billion, a P/E ratio of 16.17 and a beta of 0.49. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.68 and a quick ratio of 1.43. The stock’s 50-day moving average is $777.97 and its 200 day moving average is $749.18.

NewMarket (NYSE:NEU) last issued its quarterly earnings results on Thursday, October 30th. The specialty chemicals company reported $10.67 earnings per share for the quarter. The company had revenue of $690.31 million for the quarter. NewMarket had a net margin of 16.33% and a return on equity of 28.53%.

NewMarket Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 15th will be issued a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Monday, December 15th. This is a boost from NewMarket’s previous quarterly dividend of $2.75. NewMarket’s payout ratio is presently 23.24%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on NEU. Weiss Ratings reaffirmed a “buy (b)” rating on shares of NewMarket in a research report on Monday, December 1st. Wall Street Zen downgraded shares of NewMarket from a “buy” rating to a “hold” rating in a research report on Saturday, August 30th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company has an average rating of “Buy”.

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.