OxFORD Asset Management LLP Trims Holdings in NewMarket Co. (NEU)
OxFORD Asset Management LLP cut its holdings in shares of NewMarket Co. (NYSE:NEU) by 25.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,566 shares of the specialty chemicals company’s stock after selling 1,232 shares during the quarter. OxFORD Asset Management LLP’s holdings in NewMarket were worth $1,523,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Nomura Holdings Inc. acquired a new stake in shares of NewMarket in the 2nd quarter valued at $309,000. Shell Asset Management Co. acquired a new stake in shares of NewMarket in the 3rd quarter valued at $4,578,000. First Quadrant L P CA acquired a new stake in shares of NewMarket in the 3rd quarter valued at $2,070,000. Legal & General Group Plc raised its holdings in shares of NewMarket by 24.0% in the 2nd quarter. Legal & General Group Plc now owns 10,354 shares of the specialty chemicals company’s stock valued at $4,766,000 after purchasing an additional 2,002 shares in the last quarter. Finally, SG Americas Securities LLC raised its holdings in shares of NewMarket by 95.1% in the 2nd quarter. SG Americas Securities LLC now owns 3,771 shares of the specialty chemicals company’s stock valued at $1,736,000 after purchasing an additional 1,838 shares in the last quarter. Institutional investors own 58.80% of the company’s stock.
Shares of NewMarket Co. (NEU) traded up $2.04 on Monday, hitting $383.27. 78,300 shares of the stock were exchanged, compared to its average volume of 34,602. NewMarket Co. has a fifty-two week low of $377.27 and a fifty-two week high of $483.86. The firm has a market cap of $4,542.90, a price-to-earnings ratio of 19.57 and a beta of 0.80. 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 (NYSE:NEU) last announced its quarterly earnings data on Wednesday, October 25th. The specialty chemicals company reported $5.04 earnings per share for the quarter, missing the Zacks’ consensus estimate of $5.70 by ($0.66). The firm had revenue of $584.41 million during the quarter, compared to analyst estimates of $546.40 million. NewMarket had a net margin of 10.85% and a return on equity of 41.70%. NewMarket’s revenue for the quarter was up 13.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $6.00 earnings per share.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 15th will be given a $1.75 dividend. This represents a $7.00 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date of this dividend is Thursday, December 14th. NewMarket’s dividend payout ratio (DPR) is 35.75%.
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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