Corient Private Wealth LP Takes Position in NewMarket Corporation $NEU

Corient Private Wealth LP purchased a new position in shares of NewMarket Corporation (NYSE:NEU) during the 2nd quarter, Holdings Channel reports. The institutional investor purchased 1,416 shares of the specialty chemicals company’s stock, valued at approximately $1,120,000.

A number of other hedge funds have also bought and sold shares of the company. Los Angeles Capital Management LLC bought a new stake in NewMarket in the fourth quarter valued at about $25,000. International Assets Investment Management LLC acquired a new stake in shares of NewMarket during the 4th quarter valued at approximately $27,000. Trust Co. of Vermont bought a new position in NewMarket during the second quarter worth $28,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in NewMarket by 100.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78 shares of the specialty chemicals company’s stock valued at $44,000 after purchasing an additional 39 shares during the last quarter. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA raised its holdings in shares of NewMarket by 50.0% during the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 75 shares of the specialty chemicals company’s stock worth $52,000 after purchasing an additional 25 shares during the period. 61.09% of the stock is currently owned by institutional investors and hedge funds.

NewMarket Stock Down 1.5%

NEU stock opened at $886.60 on Friday. The company has a fifty day simple moving average of $849.57 and a 200 day simple moving average of $742.26. NewMarket Corporation has a 1 year low of $580.03 and a 1 year high of $981.66. The company has a current ratio of 2.25, a quick ratio of 1.23 and a debt-to-equity ratio of 0.47. The firm has a market cap of $8.16 billion, a PE ratio of 19.07 and a beta of 0.55.

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

NewMarket Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders 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 dividend on an annualized basis and a yield of 1.4%. NewMarket’s dividend payout ratio (DPR) is 25.82%.

Analyst Ratings Changes

Several research firms recently weighed in on NEU. Wall Street Zen upgraded shares of 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 report on Friday, June 12th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, NewMarket has a consensus 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.