QRG Capital Management Inc. Buys 1,914 Shares of NewMarket Corporation $NEU

QRG Capital Management Inc. lifted its stake in shares of NewMarket Corporation (NYSE:NEUFree Report) by 324.4% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 2,504 shares of the specialty chemicals company’s stock after buying an additional 1,914 shares during the quarter. QRG Capital Management Inc.’s holdings in NewMarket were worth $1,605,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Norges Bank bought a new position in NewMarket in the 4th quarter valued at about $64,654,000. AQR Capital Management LLC lifted its position in NewMarket by 196.7% during the third quarter. AQR Capital Management LLC now owns 137,943 shares of the specialty chemicals company’s stock worth $114,246,000 after acquiring an additional 91,458 shares during the last quarter. Caisse de depot et placement du Quebec boosted its holdings in shares of NewMarket by 376.4% during the third quarter. Caisse de depot et placement du Quebec now owns 99,256 shares of the specialty chemicals company’s stock worth $82,205,000 after acquiring an additional 78,422 shares during the period. Corient Private Wealth LLC boosted its holdings in shares of NewMarket by 7,743.0% during the fourth 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. Finally, Invesco Ltd. grew its position in shares of NewMarket by 112.4% in the third quarter. Invesco Ltd. now owns 67,633 shares of the specialty chemicals company’s stock valued at $56,014,000 after purchasing an additional 35,789 shares during the last quarter. Institutional investors own 61.09% of the company’s stock.

Analyst Ratings Changes

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

Check Out Our Latest Stock Analysis on NewMarket

NewMarket Price Performance

NewMarket stock opened at $797.70 on Wednesday. The firm has a market cap of $7.34 billion, a PE ratio of 18.22 and a beta of 0.56. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.55 and a quick ratio of 1.37. The stock’s fifty day moving average price is $756.23 and its two-hundred day moving average price is $690.34. NewMarket Corporation has a one year low of $580.03 and a one year high of $875.97.

NewMarket (NYSE:NEUGet Free Report) last released its earnings results on Wednesday, April 22nd. The specialty chemicals company reported $12.62 earnings per share for the quarter. NewMarket had a return on equity of 24.12% and a net margin of 15.25%.The firm had revenue of $669.72 million during the quarter.

NewMarket Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th were paid a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Monday, June 15th. NewMarket’s dividend payout ratio is presently 27.41%.

NewMarket 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.

Further Reading

Want to see what other hedge funds are holding NEU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NewMarket Corporation (NYSE:NEUFree Report).

Institutional Ownership by Quarter for NewMarket (NYSE:NEU)

Receive News & Ratings for NewMarket Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NewMarket and related companies with MarketBeat.com's FREE daily email newsletter.