NewMarket Corporation $NEU Shares Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp lifted its position in NewMarket Corporation (NYSE:NEU) by 3.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 92,886 shares of the specialty chemicals company’s stock after acquiring an additional 2,727 shares during the period. Bank of New York Mellon Corp’s holdings in NewMarket were worth $64,171,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd lifted its holdings in NewMarket by 587.5% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 55 shares of the specialty chemicals company’s stock valued at $31,000 after purchasing an additional 47 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of NewMarket by 100.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78 shares of the specialty chemicals company’s stock worth $44,000 after buying an additional 39 shares in the last quarter. ST Germain D J Co. Inc. acquired a new position in NewMarket during the second quarter worth about $83,000. Northwestern Mutual Wealth Management Co. grew its stake in NewMarket by 13.1% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 198 shares of the specialty chemicals company’s stock valued at $112,000 after acquiring an additional 23 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in NewMarket by 12.6% in the 2nd quarter. GAMMA Investing LLC now owns 205 shares of the specialty chemicals company’s stock valued at $142,000 after acquiring an additional 23 shares during the last quarter. 61.09% of the stock is owned by institutional investors and hedge funds.

NewMarket Stock Performance

NewMarket stock opened at $775.16 on Monday. The firm has a 50 day simple moving average of $802.75 and a 200-day simple moving average of $730.32. The stock has a market cap of $7.28 billion, a price-to-earnings ratio of 15.36 and a beta of 0.46. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.66 and a quick ratio of 1.43. NewMarket Corporation has a 1-year low of $480.00 and a 1-year high of $875.97.

NewMarket (NYSE:NEU) last released its quarterly earnings data on Thursday, October 30th. The specialty chemicals company reported $10.67 EPS for the quarter. The firm had revenue of $690.31 million for the quarter. NewMarket had a return on equity of 32.25% and a net margin of 17.28%.

NewMarket Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 15th will be given a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Monday, December 15th. This is a positive change from NewMarket’s previous quarterly dividend of $2.75. NewMarket’s dividend payout ratio is 25.35%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Weiss Ratings restated a “buy (b+)” rating on shares of NewMarket in a report on Wednesday, October 8th. Wall Street Zen downgraded NewMarket from a “buy” rating to a “hold” rating in a research report on Saturday, August 30th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock has an average rating of “Buy”.

NewMarket Profile

NewMarket Corporation, through its subsidiaries, primarily engages in the manufacture and sale of petroleum additives. 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, and other applications where metal-to-metal moving parts are utilized; engine oil additives designed for passenger cars, motorcycles, on and off-road heavy duty commercial equipment, locomotives, and engines in ocean-going vessels; driveline additives designed for products, such as transmission fluids, axle fluids, and off-road powertrain fluids; and industrial additives designed for products for industrial applications consisting of hydraulic fluids, grease, industrial gear fluids, and industrial specialty applications, such as turbine oils.