Ieq Capital LLC acquired a new stake in NewMarket Corporation (NYSE:NEU – Free Report) during the second quarter, Holdings Channel.com reports. The institutional investor acquired 5,730 shares of the specialty chemicals company’s stock, valued at approximately $4,533,000.
A number of other large investors have also modified their holdings of NEU. Vanguard Group Inc. lifted its holdings in shares of NewMarket by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 828,798 shares of the specialty chemicals company’s stock valued at $569,600,000 after buying an additional 15,813 shares during the period. BlackRock Inc. acquired a new position in NewMarket during the second quarter worth $556,339,000. Dimensional Fund Advisors LP raised its position in NewMarket by 6.7% in the first quarter. Dimensional Fund Advisors LP now owns 194,507 shares of the specialty chemicals company’s stock worth $124,658,000 after acquiring an additional 12,172 shares in the last quarter. Geode Capital Management LLC raised its position in NewMarket by 5.4% in the fourth quarter. Geode Capital Management LLC now owns 175,649 shares of the specialty chemicals company’s stock worth $120,737,000 after acquiring an additional 8,978 shares in the last quarter. Finally, AQR Capital Management LLC raised its position in NewMarket by 196.7% in 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 in the last quarter. 61.09% of the stock is owned by hedge funds and other institutional investors.
NewMarket Stock Performance
Shares of NEU stock opened at $939.22 on Monday. The stock has a fifty day moving average price of $824.45 and a 200 day moving average price of $726.62. 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 stock has a market cap of $8.64 billion, a PE ratio of 20.21 and a beta of 0.56. NewMarket Corporation has a 1 year low of $580.03 and a 1 year high of $981.66.
NewMarket Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 15th will be given a $3.00 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $12.00 annualized dividend and a dividend yield of 1.3%. NewMarket’s payout ratio is currently 25.82%.
Analyst Upgrades and Downgrades
Several equities research analysts have commented on NEU shares. Weiss Ratings upgraded shares of NewMarket from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, June 12th. Wall Street Zen upgraded shares of NewMarket from a “hold” rating to a “buy” rating in a report on Saturday, August 1st. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy”.
Check Out Our Latest Research Report on NewMarket
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.
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