NewMarket Corporation (NEU) Shares Bought by Principal Financial Group Inc.
Principal Financial Group Inc. boosted its position in shares of NewMarket Corporation (NYSE:NEU) by 4.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,380 shares of the specialty chemicals company’s stock after buying an additional 1,705 shares during the period. Principal Financial Group Inc. owned 0.33% of NewMarket Corporation worth $18,134,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. US Bancorp DE increased its position in NewMarket Corporation by 2.5% during the first quarter. US Bancorp DE now owns 245 shares of the specialty chemicals company’s stock worth $111,000 after buying an additional 6 shares during the period. Shine Investment Advisory Services Inc. acquired a new position in NewMarket Corporation during the second quarter worth approximately $128,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in NewMarket Corporation by 38.4% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 335 shares of the specialty chemicals company’s stock worth $152,000 after buying an additional 93 shares during the period. Waldron LP acquired a new position in NewMarket Corporation during the first quarter worth approximately $225,000. Finally, Timber Hill LLC acquired a new position in NewMarket Corporation during the first quarter worth approximately $234,000. 55.53% of the stock is currently owned by institutional investors.
NewMarket Corporation (NEU) opened at 418.39 on Friday. NewMarket Corporation has a 52-week low of $386.90 and a 52-week high of $483.86. The firm’s 50-day moving average price is $427.60 and its 200 day moving average price is $449.82. The firm has a market cap of $4.96 billion, a price-to-earnings ratio of 20.34 and a beta of 0.75.
NewMarket Corporation (NYSE:NEU) last released its earnings results on Wednesday, August 2nd. The specialty chemicals company reported $5.29 EPS for the quarter, missing analysts’ consensus estimates of $5.73 by ($0.44). NewMarket Corporation had a return on equity of 46.94% and a net margin of 11.57%. The firm had revenue of $547.20 million for the quarter, compared to the consensus estimate of $570.10 million. During the same period in the prior year, the business earned $5.50 EPS. The company’s quarterly revenue was up 4.9% on a year-over-year basis. On average, equities research analysts forecast that NewMarket Corporation will post $20.23 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 15th will be issued a dividend of $1.75 per share. This represents a $7.00 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date is Thursday, September 14th. NewMarket Corporation’s dividend payout ratio is presently 34.03%.
Separately, BidaskClub lowered NewMarket Corporation from a “buy” rating to a “hold” rating in a research report on Saturday, June 24th.
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NewMarket Corporation Profile
NewMarket Corporation is a holding company. The Company is the parent company of Afton Chemical Corporation (Afton), Ethyl Corporation (Ethyl), NewMarket Services Corporation (NewMarket Services), and NewMarket Development Corporation (NewMarket Development). The Company operates through petroleum additives segment, which is primarily represented by Afton.
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