Csenge Advisory Group Makes New $1.53 Million Investment in NewMarket Corporation $NEU

Csenge Advisory Group purchased a new stake in NewMarket Corporation (NYSE:NEU) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 1,930 shares of the specialty chemicals company’s stock, valued at approximately $1,527,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC bought a new stake in shares of NewMarket during the 4th quarter worth approximately $25,000. International Assets Investment Management LLC bought a new position in NewMarket in the fourth quarter valued at approximately $27,000. Trust Co. of Vermont bought a new position in NewMarket in the second quarter valued at approximately $28,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake 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 valued at $44,000 after acquiring an additional 39 shares during the last quarter. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA raised its position in NewMarket by 50.0% during the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 75 shares of the specialty chemicals company’s stock valued at $52,000 after purchasing an additional 25 shares in the last quarter. 61.09% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of NewMarket from a “hold” rating to a “buy” rating in a research note on Saturday, August 1st. Weiss Ratings raised NewMarket from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, June 12th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy”.

NewMarket Stock Performance

Shares of NewMarket stock opened at $930.04 on Thursday. The business has a 50-day simple moving average of $820.59 and a 200 day simple moving average of $722.97. NewMarket Corporation has a one year low of $580.03 and a one year high of $981.66. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.25 and a quick ratio of 1.23. The firm has a market capitalization of $8.56 billion, a price-to-earnings ratio of 20.01 and a beta of 0.56.

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

NewMarket Announces Dividend

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

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.