Man Group plc Acquires New Holdings in NewMarket Corporation $NEU

Man Group plc bought a new stake in NewMarket Corporation (NYSE:NEU) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 2,214 shares of the specialty chemicals company’s stock, valued at approximately $1,752,000.

Several other hedge funds also recently bought and sold shares of NEU. Los Angeles Capital Management LLC bought a new position in shares of NewMarket during the fourth quarter worth $25,000. Trust Co. of Vermont bought a new stake in shares of NewMarket in the 2nd quarter valued at $28,000. International Assets Investment Management LLC bought a new stake in shares of NewMarket in the 4th quarter valued at $27,000. Quarry LP acquired a new stake in NewMarket during the 3rd quarter worth $52,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA raised its stake in NewMarket by 50.0% during the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 75 shares of the specialty chemicals company’s stock worth $52,000 after buying an additional 25 shares during the period. 61.09% of the stock is currently owned by institutional investors and hedge funds.

NewMarket Stock Up 0.5%

Shares of NewMarket stock opened at $902.39 on Wednesday. The firm has a market cap of $8.30 billion, a PE ratio of 19.41 and a beta of 0.55. The business’s 50 day simple moving average is $843.32 and its 200 day simple moving average is $736.87. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.23 and a current ratio of 2.25. NewMarket Corporation has a 52-week low of $580.03 and a 52-week high of $981.66.

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

NewMarket Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 15th will be issued a dividend of $3.00 per share. The ex-dividend date is Tuesday, September 15th. This represents a $12.00 annualized dividend and a yield of 1.3%. NewMarket’s dividend payout ratio is presently 25.82%.

Wall Street Analysts Forecast Growth

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

About NewMarket

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.