UBS Asset Management Americas Inc. raised its stake in shares of NewMarket Corp. (NYSE:NEU) by 7.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,426 shares of the company’s stock after buying an additional 591 shares during the period. UBS Asset Management Americas Inc. owned about 0.07% of NewMarket Corp. worth $3,491,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of the stock. Norges Bank acquired a new stake in NewMarket Corp. during the fourth quarter valued at about $39,412,000. Glenmede Trust Co. NA raised its stake in NewMarket Corp. by 7.6% in the first quarter. Glenmede Trust Co. NA now owns 5,038 shares of the company’s stock worth $1,995,000 after buying an additional 358 shares during the period. Commonwealth Equity Services Inc raised its stake in NewMarket Corp. by 6.0% in the first quarter. Commonwealth Equity Services Inc now owns 743 shares of the company’s stock worth $294,000 after buying an additional 42 shares during the period. Aperio Group LLC raised its stake in NewMarket Corp. by 10.3% in the first quarter. Aperio Group LLC now owns 2,623 shares of the company’s stock worth $1,039,000 after buying an additional 246 shares during the period. Finally, Virginia Retirement System purchased a new stake in NewMarket Corp. during the first quarter worth $911,000. 58.47% of the stock is currently owned by institutional investors.
Shares of NewMarket Corp. (NYSE:NEU) traded up 0.32% during trading on Monday, hitting $430.69. 12,132 shares of the stock were exchanged. The firm has a 50 day moving average of $428.46 and a 200-day moving average of $412.62. NewMarket Corp. has a 52-week low of $322.54 and a 52-week high of $447.97. The stock has a market cap of $5.10 billion, a PE ratio of 21.29 and a beta of 0.93.
NewMarket Corp. (NYSE:NEU) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $5.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.45 by $0.05. The company had revenue of $521.80 million for the quarter, compared to the consensus estimate of $556.60 million. NewMarket Corp. had a net margin of 11.80% and a return on equity of 62.23%. The firm’s revenue was down 6.9% compared to the same quarter last year. During the same quarter last year, the firm posted $4.65 earnings per share. Equities research analysts anticipate that NewMarket Corp. will post $20.30 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Saturday, October 1st. Investors of record on Thursday, September 15th were issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date of this dividend was Tuesday, September 13th. NewMarket Corp.’s payout ratio is 31.64%.
A number of analysts recently weighed in on NEU shares. Zacks Investment Research lowered shares of NewMarket Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, September 28th. BMO Capital Markets lowered shares of NewMarket Corp. from an “outperform” rating to a “market perform” rating in a report on Friday. Finally, Longbow Research lowered shares of NewMarket Corp. from a “buy” rating to a “neutral” rating in a report on Friday, July 29th.
NewMarket Corp. Company Profile
NewMarket Corporation is a holding company. The Company is the parent company of Afton Chemical Corporation (Afton), Ethyl Corporation (Ethyl), NewMarket Services Corporation (NewMarket Services) and NewMarket Development Corporation (NewMarket Development). It operates in petroleum additives segment, which is primarily represented by Afton.
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