Gotham Asset Management LLC raised its stake in shares of NewMarket Corporation (NYSE:NEU – Free Report) by 33.6% in the 4th quarter, Holdings Channel reports. The firm owned 59,599 shares of the specialty chemicals company’s stock after acquiring an additional 14,989 shares during the period. Gotham Asset Management LLC’s holdings in NewMarket were worth $40,960,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC lifted its position in shares of NewMarket by 6.8% in the fourth quarter. GAMMA Investing LLC now owns 235 shares of the specialty chemicals company’s stock worth $162,000 after buying an additional 15 shares in the last quarter. OneDigital Investment Advisors LLC increased its stake in NewMarket by 5.8% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 329 shares of the specialty chemicals company’s stock worth $273,000 after acquiring an additional 18 shares during the last quarter. Great Lakes Advisors LLC raised its holdings in shares of NewMarket by 5.5% during the 4th quarter. Great Lakes Advisors LLC now owns 366 shares of the specialty chemicals company’s stock worth $252,000 after acquiring an additional 19 shares in the last quarter. Abel Hall LLC raised its holdings in shares of NewMarket by 6.3% during the 4th quarter. Abel Hall LLC now owns 335 shares of the specialty chemicals company’s stock worth $230,000 after acquiring an additional 20 shares in the last quarter. Finally, Janney Montgomery Scott LLC boosted its position in shares of NewMarket by 4.1% during the 4th quarter. Janney Montgomery Scott LLC now owns 553 shares of the specialty chemicals company’s stock valued at $380,000 after acquiring an additional 22 shares during the last quarter. Hedge funds and other institutional investors own 61.09% of the company’s stock.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings raised shares of NewMarket from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, June 12th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy”.
NewMarket Price Performance
NYSE:NEU opened at $763.22 on Thursday. The firm has a market capitalization of $7.02 billion, a price-to-earnings ratio of 17.43 and a beta of 0.56. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.55 and a quick ratio of 1.37. The business has a 50 day simple moving average of $717.13 and a 200-day simple moving average of $686.74. NewMarket Corporation has a 1 year low of $580.03 and a 1 year high of $875.97.
NewMarket (NYSE:NEU – Get Free Report) last released its quarterly earnings results on Wednesday, April 22nd. The specialty chemicals company reported $12.62 earnings per share for the quarter. The company had revenue of $669.72 million for the quarter. NewMarket had a return on equity of 24.12% and a net margin of 15.25%.
NewMarket Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th will be paid a $3.00 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $12.00 annualized dividend and a dividend yield of 1.6%. NewMarket’s dividend payout ratio is currently 27.41%.
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.
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