Strategic Global Advisors LLC Makes New Investment in NewMarket Corporation $NEU

Strategic Global Advisors LLC bought a new stake in NewMarket Corporation (NYSE:NEU) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,666 shares of the specialty chemicals company’s stock, valued at approximately $2,109,000.

Other institutional investors also recently modified their holdings of the company. BlackRock Inc. acquired a new stake in NewMarket in the 2nd quarter worth about $556,339,000. Norges Bank acquired a new position in shares of NewMarket during the 4th quarter worth approximately $64,654,000. Caisse de depot et placement du Quebec bought a new position in shares of NewMarket during the second quarter worth approximately $72,517,000. AQR Capital Management LLC increased its holdings in shares of NewMarket by 196.7% during the third quarter. AQR Capital Management LLC now owns 137,943 shares of the specialty chemicals company’s stock worth $114,246,000 after purchasing an additional 91,458 shares during the period. Finally, Corient Private Wealth LLC raised its position in shares of NewMarket by 7,743.0% in the fourth quarter. Corient Private Wealth LLC now owns 75,763 shares of the specialty chemicals company’s stock valued at $52,069,000 after buying an additional 74,797 shares in the last quarter. Institutional investors own 61.09% of the company’s stock.

Analyst Ratings Changes

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

NewMarket Trading Down 0.5%

NEU opened at $926.11 on Thursday. NewMarket Corporation has a twelve month low of $580.03 and a twelve month high of $981.66. The company has a 50-day simple moving average of $833.01 and a 200 day simple moving average of $731.36. The company has a quick ratio of 1.23, a current ratio of 2.25 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $8.52 billion, a price-to-earnings ratio of 19.92 and a beta of 0.56.

NewMarket (NYSE:NEU) last released its earnings results on Wednesday, July 29th. The specialty chemicals company reported $14.54 EPS for the quarter. The firm had revenue of $747.09 million for 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 declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 15th will be given a dividend of $3.00 per share. The ex-dividend date is Tuesday, September 15th. This represents a $12.00 annualized dividend and a dividend yield of 1.3%. NewMarket’s dividend payout ratio (DPR) is currently 25.82%.

NewMarket 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.