SCS Capital Management LLC Acquires Shares of 7,613 NewMarket Corporation $NEU

SCS Capital Management LLC acquired a new position in shares of NewMarket Corporation (NYSE:NEU) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 7,613 shares of the specialty chemicals company’s stock, valued at approximately $6,047,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of NewMarket by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 828,798 shares of the specialty chemicals company’s stock worth $569,600,000 after purchasing an additional 15,813 shares during the period. Dimensional Fund Advisors LP increased its stake in NewMarket by 6.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 194,507 shares of the specialty chemicals company’s stock valued at $124,658,000 after buying an additional 12,172 shares during the period. Geode Capital Management LLC raised its position in NewMarket by 5.4% during the 4th quarter. Geode Capital Management LLC now owns 175,649 shares of the specialty chemicals company’s stock worth $120,737,000 after buying an additional 8,978 shares during the last quarter. AQR Capital Management LLC raised its position in NewMarket by 196.7% during the 3rd quarter. AQR Capital Management LLC now owns 137,943 shares of the specialty chemicals company’s stock worth $114,246,000 after buying an additional 91,458 shares during the last quarter. Finally, Caisse de depot et placement du Quebec raised its position in NewMarket by 16.9% during the 4th quarter. Caisse de depot et placement du Quebec now owns 116,002 shares of the specialty chemicals company’s stock worth $79,724,000 after buying an additional 16,746 shares during the last quarter. 61.09% of the stock is currently owned by hedge funds and other institutional investors.

NewMarket Stock Down 0.3%

NEU opened at $959.36 on Monday. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.25 and a quick ratio of 1.23. The business has a 50 day simple moving average of $812.96 and a 200-day simple moving average of $716.88. The stock has a market capitalization of $8.83 billion, a P/E ratio of 20.64 and a beta of 0.56. NewMarket Corporation has a 12 month low of $580.03 and a 12 month high of $961.98.

NewMarket (NYSE:NEU) last announced its quarterly earnings data 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 for the quarter. NewMarket had a return on equity of 24.62% and a net margin of 15.80%.

NewMarket Dividend Announcement

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 given a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Tuesday, September 15th. NewMarket’s payout ratio is presently 25.82%.

Analyst Upgrades and Downgrades

NEU has been the topic of several analyst reports. Wall Street Zen raised shares of NewMarket from a “hold” rating to a “buy” rating in a report on Saturday, August 1st. Weiss Ratings upgraded 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, NewMarket presently has a consensus rating of “Buy”.

NewMarket Company 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.