Municipal Employees Retirement System of Michigan Sells 770 Shares of NewMarket Corporation (NEU)
Municipal Employees Retirement System of Michigan lessened its holdings in NewMarket Corporation (NYSE:NEU) by 21.6% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,800 shares of the specialty chemicals company’s stock after selling 770 shares during the quarter. Municipal Employees Retirement System of Michigan’s holdings in NewMarket Corporation were worth $1,192,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in NEU. Advisor Group Inc. grew its holdings in NewMarket Corporation by 6.7% in the second quarter. Advisor Group Inc. now owns 238 shares of the specialty chemicals company’s stock worth $110,000 after purchasing an additional 15 shares during the period. Shine Investment Advisory Services Inc. purchased a new stake in shares of NewMarket Corporation during the second quarter valued at approximately $128,000. YorkBridge Wealth Partners LLC grew its holdings in shares of NewMarket Corporation by 1.4% during the second quarter. YorkBridge Wealth Partners LLC now owns 286 shares of the specialty chemicals company’s stock valued at $131,000 after buying an additional 4 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of NewMarket Corporation by 24.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 416 shares of the specialty chemicals company’s stock valued at $192,000 after buying an additional 81 shares during the last quarter. Finally, TrimTabs Asset Management LLC grew its holdings in shares of NewMarket Corporation by 105.5% during the second quarter. TrimTabs Asset Management LLC now owns 561 shares of the specialty chemicals company’s stock valued at $258,000 after buying an additional 288 shares during the last quarter. Institutional investors and hedge funds own 56.36% of the company’s stock.
Shares of NewMarket Corporation (NEU) opened at $394.73 on Tuesday. NewMarket Corporation has a fifty-two week low of $382.04 and a fifty-two week high of $483.86. The company has a current ratio of 2.74, a quick ratio of 1.50 and a debt-to-equity ratio of 0.97. The company has a market cap of $4,680.00, a P/E ratio of 20.05 and a beta of 0.80.
NewMarket Corporation (NYSE:NEU) last posted its quarterly earnings results on Wednesday, October 25th. The specialty chemicals company reported $5.04 EPS for the quarter, missing the Zacks’ consensus estimate of $5.70 by ($0.66). NewMarket Corporation had a net margin of 10.85% and a return on equity of 41.70%. The firm had revenue of $584.41 million for the quarter, compared to analysts’ expectations of $546.40 million. During the same quarter in the previous year, the company earned $6.00 EPS. The company’s quarterly revenue was up 13.2% compared to the same quarter last year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 15th will be issued a dividend of $1.75 per share. This represents a $7.00 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date is Thursday, December 14th. NewMarket Corporation’s payout ratio is 35.73%.
Separately, BidaskClub cut shares of NewMarket Corporation from a “hold” rating to a “sell” rating in a report on Saturday, August 5th.
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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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