Suntrust Banks Inc. raised its stake in NewMarket Corporation (NYSE:NEU) by 95.1% during the first quarter, according to its most recent filing with the SEC. The fund owned 1,270 shares of the specialty chemicals company’s stock after buying an additional 619 shares during the period. Suntrust Banks Inc.’s holdings in NewMarket Corporation were worth $575,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of NEU. Allianz Asset Management AG bought a new stake in NewMarket Corporation during the fourth quarter valued at about $264,000. First Republic Investment Management Inc. increased its stake in NewMarket Corporation by 38.2% in the fourth quarter. First Republic Investment Management Inc. now owns 4,197 shares of the specialty chemicals company’s stock valued at $1,779,000 after buying an additional 1,161 shares during the last quarter. Thrivent Financial for Lutherans boosted its position in NewMarket Corporation by 9.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 1,590 shares of the specialty chemicals company’s stock valued at $674,000 after buying an additional 140 shares during the period. Glen Harbor Capital Management LLC boosted its position in NewMarket Corporation by 73.7% in the first quarter. Glen Harbor Capital Management LLC now owns 1,122 shares of the specialty chemicals company’s stock valued at $508,000 after buying an additional 476 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in NewMarket Corporation by 3.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 62,761 shares of the specialty chemicals company’s stock valued at $26,602,000 after buying an additional 2,267 shares during the period. Hedge funds and other institutional investors own 56.62% of the company’s stock.
NewMarket Corporation (NYSE NEU) opened at 466.51 on Friday. The firm’s 50-day moving average price is $465.67 and its 200 day moving average price is $444.70. NewMarket Corporation has a 1-year low of $385.66 and a 1-year high of $483.86. The stock has a market cap of $5.53 billion, a PE ratio of 22.52 and a beta of 0.75.
NewMarket Corporation (NYSE:NEU) last issued its quarterly earnings data on Wednesday, April 26th. The specialty chemicals company reported $5.39 EPS for the quarter, topping the consensus estimate of $4.04 by $1.35. The firm had revenue of $542.80 million during the quarter, compared to the consensus estimate of $509 million. NewMarket Corporation had a return on equity of 51.17% and a net margin of 11.79%. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the business posted $5.42 earnings per share. Equities research analysts expect that NewMarket Corporation will post $20.56 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 3rd. Investors of record on Thursday, June 15th will be given a dividend of $1.75 per share. This represents a $7.00 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date is Tuesday, June 13th. NewMarket Corporation’s payout ratio is 33.80%.
In related news, insider Robert A. Shama sold 230 shares of the stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $458.60, for a total transaction of $105,478.00. Following the completion of the sale, the insider now directly owns 1,850 shares of the company’s stock, valued at $848,410. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 16.83% of the company’s stock.
About NewMarket Corporation
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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