Dynamic Capital Management Ltd acquired a new position in NewMarket Co. (NYSE:NEU) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 519 shares of the specialty chemicals company’s stock, valued at approximately $225,000.
Other large investors have also modified their holdings of the company. Berman Capital Advisors LLC purchased a new position in shares of NewMarket in the 4th quarter worth $25,000. O Shaughnessy Asset Management LLC purchased a new position in shares of NewMarket during the 1st quarter worth about $26,000. Oppenheimer Asset Management Inc. purchased a new position in shares of NewMarket during the 4th quarter worth about $37,000. Ellis Investment Partners LLC purchased a new position in shares of NewMarket during the 1st quarter worth about $46,000. Finally, Contravisory Investment Management Inc. purchased a new position in shares of NewMarket during the 1st quarter worth about $117,000. 55.34% of the stock is owned by institutional investors and hedge funds.
NEU stock opened at $405.75 on Thursday. NewMarket Co. has a 12 month low of $352.89 and a 12 month high of $452.54. The company has a debt-to-equity ratio of 1.53, a current ratio of 3.29 and a quick ratio of 1.77. The stock has a market cap of $4.53 billion, a P/E ratio of 19.47 and a beta of 0.51.
NewMarket (NYSE:NEU) last released its quarterly earnings results on Wednesday, April 24th. The specialty chemicals company reported $5.57 EPS for the quarter, missing analysts’ consensus estimates of $5.81 by ($0.24). NewMarket had a return on equity of 44.09% and a net margin of 10.57%. The firm had revenue of $536.62 million for the quarter. As a group, research analysts expect that NewMarket Co. will post 21.41 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 17th will be paid a dividend of $1.75 per share. The ex-dividend date is Friday, June 14th. This represents a $7.00 dividend on an annualized basis and a dividend yield of 1.73%. NewMarket’s dividend payout ratio is presently 34.41%.
Separately, Buckingham Research initiated coverage on shares of NewMarket in a research note on Monday, April 1st. They set an “underperform” rating and a $380.00 price target for the company.
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NewMarket Corporation, through its subsidiaries, engages in the petroleum additives businesses. The company offers lubricant additives for use in various vehicle and industrial applications, including engine oils, transmission fluids, off-road powertrain and hydraulic systems, gear oils, hydraulic oils, turbine oils, metalworking fluids, and other applications where metal-to-metal moving parts are utilized; and engine oil, driveline, and industrial additives.
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