479 Shares in NewMarket Corporation $NEU Purchased by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC purchased a new position in shares of NewMarket Corporation (NYSE:NEU) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 479 shares of the specialty chemicals company’s stock, valued at approximately $331,000.

A number of other hedge funds have also bought and sold shares of NEU. SG Americas Securities LLC bought a new position in NewMarket during the first quarter worth about $399,000. Wealth Enhancement Advisory Services LLC increased its holdings in NewMarket by 45.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 718 shares of the specialty chemicals company’s stock valued at $407,000 after buying an additional 223 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in NewMarket by 8.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 185,858 shares of the specialty chemicals company’s stock valued at $105,300,000 after buying an additional 15,155 shares during the period. DAVENPORT & Co LLC increased its holdings in NewMarket by 5.9% in the 1st quarter. DAVENPORT & Co LLC now owns 70,846 shares of the specialty chemicals company’s stock valued at $40,131,000 after buying an additional 3,967 shares during the period. Finally, Private Trust Co. NA increased its holdings in NewMarket by 185.2% in the 1st quarter. Private Trust Co. NA now owns 77 shares of the specialty chemicals company’s stock valued at $44,000 after buying an additional 50 shares during the period. 61.09% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

NewMarket Stock Up 1.4%

Shares of NYSE NEU opened at $760.26 on Wednesday. The company has a market capitalization of $7.14 billion, a P/E ratio of 15.07 and a beta of 0.45. NewMarket Corporation has a 52-week low of $480.00 and a 52-week high of $875.97. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.43 and a current ratio of 2.66. The company’s 50 day moving average price is $811.49 and its 200-day moving average price is $709.08.

NewMarket (NYSE:NEU) last released its quarterly earnings data on Wednesday, July 30th. The specialty chemicals company reported $11.84 earnings per share for the quarter. The company had revenue of $698.51 million during the quarter. NewMarket had a net margin of 17.28% and a return on equity of 32.25%.

NewMarket Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th were paid a $2.75 dividend. The ex-dividend date was Monday, September 15th. This represents a $11.00 annualized dividend and a dividend yield of 1.4%. NewMarket’s payout ratio is currently 21.80%.

About NewMarket

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.