Van ECK Associates Corp Reduces Stock Holdings in NewMarket Corporation $NEU

Van ECK Associates Corp reduced its position in shares of NewMarket Corporation (NYSE:NEU) by 9.9% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,735 shares of the specialty chemicals company’s stock after selling 740 shares during the quarter. Van ECK Associates Corp owned 0.07% of NewMarket worth $5,329,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Strs Ohio boosted its holdings in shares of NewMarket by 12.7% in the first quarter. Strs Ohio now owns 151 shares of the specialty chemicals company’s stock worth $97,000 after buying an additional 17 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in NewMarket by 0.3% during the first quarter. The Manufacturers Life Insurance Company now owns 5,253 shares of the specialty chemicals company’s stock valued at $3,367,000 after buying an additional 17 shares during the last quarter. Kesler Norman & Wride LLC increased its holdings in NewMarket by 1.6% during the first quarter. Kesler Norman & Wride LLC now owns 1,227 shares of the specialty chemicals company’s stock valued at $786,000 after buying an additional 19 shares during the last quarter. Great Lakes Advisors LLC raised its position in NewMarket by 5.5% in the fourth 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 during the period. Finally, Abel Hall LLC raised its position in NewMarket by 6.3% in the fourth quarter. Abel Hall LLC now owns 335 shares of the specialty chemicals company’s stock worth $230,000 after acquiring an additional 20 shares during the period. Hedge funds and other institutional investors own 61.09% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on NEU. Weiss Ratings raised shares of NewMarket from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, June 12th. Wall Street Zen upgraded NewMarket from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, NewMarket currently has a consensus rating of “Buy”.

NewMarket Trading Up 0.9%

NewMarket stock opened at $911.16 on Thursday. NewMarket Corporation has a 12-month low of $580.03 and a 12-month high of $981.66. The firm has a market capitalization of $8.38 billion, a price-to-earnings ratio of 19.60 and a beta of 0.55. The firm has a 50 day moving average of $845.70 and a 200 day moving average of $739.08. The company has a current ratio of 2.25, a quick ratio of 1.23 and a debt-to-equity ratio of 0.47.

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

NewMarket Dividend Announcement

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 paid a dividend of $3.00 per share. The ex-dividend date is Tuesday, September 15th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 1.3%. NewMarket’s payout ratio is 25.82%.

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.