NewMarket Corporation (NEU) Position Decreased by Ameriprise Financial Inc.
Ameriprise Financial Inc. lessened its holdings in NewMarket Corporation (NYSE:NEU) by 46.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,860 shares of the specialty chemicals company’s stock after selling 27,856 shares during the period. Ameriprise Financial Inc. owned about 0.27% of NewMarket Corporation worth $14,675,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in NewMarket Corporation by 18.0% in the first quarter. Vanguard Group Inc. now owns 857,386 shares of the specialty chemicals company’s stock valued at $388,594,000 after acquiring an additional 130,543 shares during the last quarter. BlackRock Inc. lifted its stake in NewMarket Corporation by 12,325.0% during the first quarter. BlackRock Inc. now owns 715,310 shares of the specialty chemicals company’s stock worth $324,200,000 after purchasing an additional 709,553 shares in the last quarter. State Street Corp lifted its stake in NewMarket Corporation by 2.6% during the first quarter. State Street Corp now owns 227,987 shares of the specialty chemicals company’s stock worth $103,327,000 after purchasing an additional 5,710 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in NewMarket Corporation by 1.4% during the second quarter. Bank of New York Mellon Corp now owns 110,285 shares of the specialty chemicals company’s stock worth $50,784,000 after purchasing an additional 1,560 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in NewMarket Corporation by 10.3% during the first quarter. Geode Capital Management LLC now owns 69,587 shares of the specialty chemicals company’s stock worth $31,538,000 after purchasing an additional 6,514 shares in the last quarter. Hedge funds and other institutional investors own 55.33% of the company’s stock.
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Shares of NewMarket Corporation (NEU) opened at 432.30 on Friday. NewMarket Corporation has a 52 week low of $386.90 and a 52 week high of $483.86. The firm has a market capitalization of $5.12 billion, a PE ratio of 21.01 and a beta of 0.75. The stock has a 50 day moving average price of $422.95 and a 200 day moving average price of $448.27.
NewMarket Corporation (NYSE:NEU) last issued its quarterly earnings data 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 during the quarter, compared to analyst estimates of $570.10 million. During the same quarter in the prior year, the firm earned $5.50 EPS. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. Equities analysts forecast that NewMarket Corporation will post $20.23 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Friday, September 15th were issued a $1.75 dividend. The ex-dividend date was Thursday, September 14th. This represents a $7.00 dividend on an annualized basis and a yield of 1.62%. NewMarket Corporation’s dividend payout ratio is currently 34.03%.
Separately, BidaskClub cut NewMarket Corporation from a “buy” rating to a “hold” rating in a research note on Saturday, June 24th.
NewMarket Corporation Company 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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