Allianz Asset Management GmbH Purchases 4,595 Shares of NewMarket Corporation $NEU

Allianz Asset Management GmbH increased its position in NewMarket Corporation (NYSE:NEU) by 115.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,588 shares of the specialty chemicals company’s stock after acquiring an additional 4,595 shares during the quarter. Allianz Asset Management GmbH owned about 0.09% of NewMarket worth $5,933,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of NEU. Ritholtz Wealth Management raised its stake in NewMarket by 2.4% in the second quarter. Ritholtz Wealth Management now owns 1,110 shares of the specialty chemicals company’s stock valued at $767,000 after purchasing an additional 26 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new stake in NewMarket in the second quarter valued at approximately $331,000. MGO One Seven LLC purchased a new stake in NewMarket in the second quarter valued at approximately $213,000. CWM LLC raised its stake in NewMarket by 48.1% in the second quarter. CWM LLC now owns 431 shares of the specialty chemicals company’s stock valued at $298,000 after purchasing an additional 140 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its stake in NewMarket by 30.6% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 751 shares of the specialty chemicals company’s stock valued at $519,000 after purchasing an additional 176 shares in the last quarter. 61.09% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Weiss Ratings reissued a “buy (b+)” rating on shares of NewMarket in a research note on Wednesday, October 8th. Wall Street Zen downgraded shares of NewMarket from a “buy” rating to a “hold” rating in a research note on Saturday, August 30th. One research analyst has rated the stock with a Buy rating, According to MarketBeat, NewMarket currently has a consensus rating of “Buy”.

NewMarket Stock Down 1.1%

Shares of NYSE NEU opened at $750.24 on Thursday. The company has a quick ratio of 1.43, a current ratio of 2.66 and a debt-to-equity ratio of 0.52. NewMarket Corporation has a 52 week low of $480.00 and a 52 week high of $875.97. The firm’s fifty day moving average is $811.04 and its 200 day moving average is $709.37. The company has a market cap of $7.05 billion, a price-to-earnings ratio of 14.87 and a beta of 0.45.

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

NewMarket Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Monday, September 15th were issued a $2.75 dividend. The ex-dividend date was Monday, September 15th. This represents a $11.00 annualized dividend and a yield of 1.5%. NewMarket’s payout ratio is 21.80%.

NewMarket Company Profile

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.