Park Avenue Securities LLC Takes $1.10 Million Position in NewMarket Corporation $NEU

Park Avenue Securities LLC bought a new stake in shares of NewMarket Corporation (NYSE:NEU) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 1,322 shares of the specialty chemicals company’s stock, valued at approximately $1,095,000.

A number of other large investors have also bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of NewMarket by 100.0% during 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 purchasing an additional 39 shares during the period. ST Germain D J Co. Inc. bought a new stake in NewMarket in the 2nd quarter valued at about $83,000. MAI Capital Management raised its stake in NewMarket by 20.8% during the 2nd quarter. MAI Capital Management now owns 122 shares of the specialty chemicals company’s stock worth $84,000 after buying an additional 21 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in NewMarket by 88.8% in the second quarter. EverSource Wealth Advisors LLC now owns 151 shares of the specialty chemicals company’s stock worth $104,000 after acquiring an additional 71 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC boosted its holdings in NewMarket by 31.6% in the second quarter. Steward Partners Investment Advisory LLC now owns 154 shares of the specialty chemicals company’s stock worth $107,000 after acquiring an additional 37 shares in the last quarter. 61.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “buy (b-)” rating on shares of NewMarket in a research note on Monday, December 29th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy”.

NewMarket Trading Down 1.5%

NYSE NEU opened at $710.05 on Wednesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.68 and a quick ratio of 1.43. The stock has a market capitalization of $6.67 billion, a price-to-earnings ratio of 15.00 and a beta of 0.49. The business’s fifty day moving average is $740.37 and its 200-day moving average is $762.22. NewMarket Corporation has a one year low of $480.57 and a one year high of $875.97.

NewMarket (NYSE:NEU) last posted its quarterly earnings results on Thursday, October 30th. The specialty chemicals company reported $10.67 earnings per share for the quarter. The company had revenue of $690.31 million during the quarter. NewMarket had a return on equity of 28.53% and a net margin of 16.33%.

NewMarket Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Monday, December 15th were paid a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Monday, December 15th. This is an increase from NewMarket’s previous quarterly dividend of $2.75. NewMarket’s dividend payout ratio is currently 25.35%.

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.