Virtu Financial LLC Makes New Investment in NewMarket Corporation $NEU

Virtu Financial LLC bought a new position in shares of NewMarket Corporation (NYSE:NEU) in the 4th quarter, Holdings Channel.com reports. The fund bought 1,740 shares of the specialty chemicals company’s stock, valued at approximately $1,195,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. MV Capital Management Inc. acquired a new stake in NewMarket in the fourth quarter valued at $92,000. Invesco Ltd. lifted its holdings in shares of NewMarket by 11.6% during the fourth quarter. Invesco Ltd. now owns 75,496 shares of the specialty chemicals company’s stock worth $51,885,000 after purchasing an additional 7,863 shares during the period. Corient Private Wealth LLC lifted its stake in shares of NewMarket by 7,743.0% in the 4th quarter. Corient Private Wealth LLC now owns 75,763 shares of the specialty chemicals company’s stock worth $52,069,000 after acquiring an additional 74,797 shares during the period. EP Wealth Advisors LLC purchased a new stake in NewMarket in the 4th quarter valued at approximately $223,000. Finally, NewEdge Advisors LLC boosted its stake in shares of NewMarket by 60.5% in the fourth quarter. NewEdge Advisors LLC now owns 1,250 shares of the specialty chemicals company’s stock valued at $859,000 after buying an additional 471 shares in the last quarter. 61.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded NewMarket from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, June 12th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy”.

NewMarket Stock Performance

Shares of NYSE:NEU opened at $777.28 on Friday. The business has a 50-day moving average of $722.47 and a two-hundred day moving average of $687.47. The firm has a market capitalization of $7.15 billion, a PE ratio of 17.75 and a beta of 0.56. NewMarket Corporation has a 12 month low of $580.03 and a 12 month high of $875.97. 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 (NYSE:NEU) last announced its quarterly earnings results on Wednesday, April 22nd. The specialty chemicals company reported $12.62 earnings per share for the quarter. NewMarket had a net margin of 15.25% and a return on equity of 24.12%. The firm had revenue of $669.72 million during the quarter.

NewMarket Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th will be paid a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Monday, June 15th. NewMarket’s dividend payout ratio is 27.41%.

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.