NewMarket Corporation (NEU) Stake Increased by Prudential Financial Inc.
Prudential Financial Inc. raised its position in NewMarket Corporation (NYSE:NEU) by 2.6% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 5,992 shares of the specialty chemicals company’s stock after acquiring an additional 152 shares during the period. Prudential Financial Inc. owned approximately 0.05% of NewMarket worth $2,551,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the company. Old Mutual Global Investors UK Ltd. lifted its stake in shares of NewMarket by 695.8% in the 3rd quarter. Old Mutual Global Investors UK Ltd. now owns 50,456 shares of the specialty chemicals company’s stock worth $21,481,000 after acquiring an additional 44,116 shares during the period. Copeland Capital Management LLC lifted its stake in shares of NewMarket by 0.9% in the third quarter. Copeland Capital Management LLC now owns 48,720 shares of the specialty chemicals company’s stock valued at $20,743,000 after purchasing an additional 434 shares during the period. Crossmark Global Holdings Inc. acquired a new stake in shares of NewMarket in the third quarter valued at about $719,000. First Quadrant L P CA acquired a new stake in shares of NewMarket in the third quarter valued at about $2,070,000. Finally, Aperio Group LLC lifted its stake in shares of NewMarket by 67.3% in the third quarter. Aperio Group LLC now owns 6,037 shares of the specialty chemicals company’s stock valued at $2,570,000 after purchasing an additional 2,429 shares during the period. Institutional investors own 58.81% of the company’s stock.
Shares of NewMarket Corporation (NYSE:NEU) traded down $3.89 during midday trading on Monday, hitting $396.63. 33,600 shares of the company traded hands, compared to its average volume of 34,370. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.74 and a quick ratio of 1.50. NewMarket Corporation has a 12-month low of $382.04 and a 12-month high of $483.86. The firm has a market capitalization of $4,701.30, a PE ratio of 20.26 and a beta of 0.80.
NewMarket (NYSE:NEU) last announced its quarterly earnings data on Wednesday, October 25th. The specialty chemicals company reported $5.04 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $5.70 by ($0.66). NewMarket had a net margin of 10.85% and a return on equity of 41.70%. The company had revenue of $584.41 million during the quarter, compared to analyst estimates of $546.40 million. During the same quarter last year, the business earned $6.00 EPS. The firm’s revenue for the quarter was up 13.2% on a year-over-year basis.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 15th will be paid a $1.75 dividend. This represents a $7.00 annualized dividend and a dividend yield of 1.76%. The ex-dividend date is Thursday, December 14th. NewMarket’s dividend payout ratio (DPR) is 35.75%.
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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). The Company operates through petroleum additives segment, which is primarily represented by Afton.
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