685 Shares in NewMarket Corporation $NEU Acquired by L2 Asset Management LLC

L2 Asset Management LLC bought a new position in NewMarket Corporation (NYSE:NEU) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 685 shares of the specialty chemicals company’s stock, valued at approximately $543,000.

Several other large investors have also recently made changes to their positions in NEU. Cibc World Market Inc. bought a new stake in shares of NewMarket in the 2nd quarter worth approximately $234,000. Sanctuary Advisors LLC bought a new position in shares of NewMarket during the 2nd quarter valued at $208,000. Elevation Point Wealth Partners LLC purchased a new position in NewMarket in the 2nd quarter worth $518,000. Northwestern Mutual Wealth Management Co. bought a new stake in NewMarket in the second quarter worth $275,000. Finally, Evolve Private Wealth LLC bought a new stake in NewMarket in the second quarter worth $240,000. 61.09% of the stock is owned by hedge funds and other institutional investors.

NewMarket Stock Down 0.3%

Shares of NewMarket stock opened at $933.73 on Wednesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.23 and a current ratio of 2.25. NewMarket Corporation has a 52-week low of $580.03 and a 52-week high of $981.66. The company’s 50 day moving average price is $829.75 and its 200-day moving average price is $729.86. The stock has a market capitalization of $8.59 billion, a price-to-earnings ratio of 20.09 and a beta of 0.56.

NewMarket (NYSE:NEU) last posted its quarterly earnings results on Wednesday, July 29th. The specialty chemicals company reported $14.54 EPS for the quarter. The company had revenue of $747.09 million during the quarter. NewMarket had a net margin of 15.80% and a return on equity of 24.62%.

NewMarket Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th will be given a $3.00 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 1.3%. NewMarket’s payout ratio is presently 25.82%.

Wall Street Analyst Weigh In

Several research firms have issued reports on NEU. Weiss Ratings upgraded shares of NewMarket from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, June 12th. Wall Street Zen upgraded NewMarket from a “hold” rating to a “buy” rating in a report on Saturday, August 1st. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock has an average rating of “Buy”.

NewMarket Company Profile

NewMarket Corporation is a specialty chemicals and lubricants company headquartered in Richmond, Virginia. Through its Valvoline business, the company markets a broad portfolio of automotive aftermarket products, including engine oils, transmission fluids, greases and vehicle care solutions. Valvoline products are distributed through retail and commercial channels as well as a network of quick-lube service centers that provide oil changes, preventive maintenance and related services.

In its chemical additives segment, NewMarket develops, manufactures and sells performance additives for fuels, lubricants and industrial fluids.