Bank of New York Mellon Corp Makes New Investment in NewMarket Corporation $NEU

Bank of New York Mellon Corp acquired a new position in shares of NewMarket Corporation (NYSE:NEUFree Report) in the second quarter, Holdings Channel reports. The institutional investor acquired 71,085 shares of the specialty chemicals company’s stock, valued at approximately $56,245,000.

Several other hedge funds also recently bought and sold shares of the stock. Los Angeles Capital Management LLC acquired a new stake in shares of NewMarket in the fourth quarter valued at $25,000. International Assets Investment Management LLC acquired a new position in NewMarket in the 4th quarter valued at about $27,000. Quarry LP acquired a new position in NewMarket in the 3rd quarter valued at about $52,000. Towarzystwo Funduszy Inwestycyjnych PZU SA grew its position in NewMarket by 50.0% in the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 75 shares of the specialty chemicals company’s stock valued at $52,000 after acquiring an additional 25 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of NewMarket by 100.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78 shares of the specialty chemicals company’s stock worth $44,000 after purchasing an additional 39 shares in the last quarter. Hedge funds and other institutional investors own 61.09% of the company’s stock.

Wall Street Analyst Weigh In

NEU has been the subject of several recent research reports. Weiss Ratings raised shares of NewMarket from a “hold (c+)” rating to a “buy (b-)” rating in a research note 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 MarketBeat.com, the company presently has a consensus rating of “Buy”.

Check Out Our Latest Report on NEU

NewMarket Stock Performance

Shares of NewMarket stock opened at $926.11 on Thursday. The business has a 50-day simple moving average of $833.01 and a 200-day simple moving average of $731.36. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.23 and a current ratio of 2.25. NewMarket Corporation has a one year low of $580.03 and a one year high of $981.66. The company has a market cap of $8.52 billion, a PE ratio of 19.92 and a beta of 0.56.

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

NewMarket Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders 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 of this dividend is Tuesday, September 15th. NewMarket’s payout ratio is 25.82%.

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.

Further Reading

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Institutional Ownership by Quarter for NewMarket (NYSE:NEU)

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