Empowered Funds LLC Makes New Investment in NewMarket Corporation $NEU

Empowered Funds LLC bought a new stake in shares of NewMarket Corporation (NYSE:NEUFree Report) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 1,817 shares of the specialty chemicals company’s stock, valued at approximately $1,438,000.

Other large investors also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of NewMarket by 100.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78 shares of the specialty chemicals company’s stock valued at $44,000 after buying an additional 39 shares during the last quarter. NewEdge Advisors LLC lifted its holdings in NewMarket by 1,442.4% in the first quarter. NewEdge Advisors LLC now owns 509 shares of the specialty chemicals company’s stock worth $288,000 after acquiring an additional 476 shares during the last quarter. United Services Automobile Association acquired a new position in NewMarket in the first quarter valued at approximately $266,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in NewMarket by 9.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 22,268 shares of the specialty chemicals company’s stock valued at $12,614,000 after acquiring an additional 1,995 shares during the period. Finally, Jane Street Group LLC grew its holdings in shares of NewMarket by 1,081.3% during the first quarter. Jane Street Group LLC now owns 10,974 shares of the specialty chemicals company’s stock valued at $6,216,000 after purchasing an additional 10,045 shares during the last quarter. 61.09% of the stock is currently owned by institutional investors.

NewMarket Price Performance

Shares of NEU opened at $900.04 on Friday. NewMarket Corporation has a one year low of $580.03 and a one year high of $981.66. The stock’s fifty day moving average is $847.66 and its 200-day moving average is $741.25. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.23 and a current ratio of 2.25. The firm has a market capitalization of $8.28 billion, a price-to-earnings ratio of 19.36 and a beta of 0.55.

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

NewMarket Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 15th will be paid a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Tuesday, September 15th. NewMarket’s dividend payout ratio (DPR) is currently 25.82%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on NEU shares. Weiss Ratings upgraded NewMarket from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, June 12th. Wall Street Zen upgraded NewMarket from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock currently has an average rating of “Buy”.

Get Our Latest Analysis on NEU

NewMarket Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for NewMarket (NYSE:NEU)

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