QRG Capital Management Inc. Has $1.60 Million Position in NewMarket Corporation $NEU

QRG Capital Management Inc. raised its position in NewMarket Corporation (NYSE:NEU) by 324.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,504 shares of the specialty chemicals company’s stock after purchasing an additional 1,914 shares during the period. QRG Capital Management Inc.’s holdings in NewMarket were worth $1,605,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the company. Natixis Advisors LLC raised its position in shares of NewMarket by 16.4% during the third quarter. Natixis Advisors LLC now owns 28,785 shares of the specialty chemicals company’s stock worth $23,840,000 after purchasing an additional 4,059 shares during the period. Robeco Institutional Asset Management B.V. boosted its holdings in shares of NewMarket by 28.3% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 16,087 shares of the specialty chemicals company’s stock valued at $11,056,000 after buying an additional 3,550 shares during the period. Northwestern Mutual Wealth Management Co. increased its position in shares of NewMarket by 4,647.9% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 5,555 shares of the specialty chemicals company’s stock worth $3,818,000 after acquiring an additional 5,438 shares in the last quarter. SG Americas Securities LLC increased its position in shares of NewMarket by 104.9% during the fourth quarter. SG Americas Securities LLC now owns 4,855 shares of the specialty chemicals company’s stock worth $3,337,000 after acquiring an additional 2,486 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of NewMarket by 1.2% during the third quarter. Dimensional Fund Advisors LP now owns 179,702 shares of the specialty chemicals company’s stock worth $148,820,000 after acquiring an additional 2,049 shares during the period. 61.09% of the stock is currently owned by institutional investors and hedge funds.

NewMarket Trading Up 0.1%

NewMarket stock opened at $797.70 on Wednesday. The company has a market cap of $7.34 billion, a price-to-earnings ratio of 18.22 and a beta of 0.56. The firm has a 50-day moving average of $756.23 and a 200-day moving average of $690.34. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.55 and a quick ratio of 1.37. NewMarket Corporation has a one year low of $580.03 and a one year high of $875.97.

NewMarket (NYSE:NEU) last released its earnings results on Wednesday, April 22nd. The specialty chemicals company reported $12.62 earnings per share (EPS) for the quarter. NewMarket had a return on equity of 24.12% and a net margin of 15.25%.The business had revenue of $669.72 million for the quarter.

NewMarket Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Monday, June 15th were paid a $3.00 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $12.00 annualized dividend and a dividend yield of 1.5%. NewMarket’s dividend payout ratio (DPR) is currently 27.41%.

Analysts Set New Price Targets

Separately, Weiss Ratings raised shares of NewMarket from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, June 12th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of “Buy”.

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.