Hsbc Holdings PLC Boosts Holdings in NewMarket Corporation $NEU

Hsbc Holdings PLC boosted its stake in shares of NewMarket Corporation (NYSE:NEU) by 1,992.7% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 5,148 shares of the specialty chemicals company’s stock after purchasing an additional 4,902 shares during the period. Hsbc Holdings PLC’s holdings in NewMarket were worth $3,556,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Caitong International Asset Management Co. Ltd raised its position in NewMarket by 10,687.5% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 863 shares of the specialty chemicals company’s stock valued at $593,000 after acquiring an additional 855 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in NewMarket by 1,469.5% in the fourth quarter. Pacer Advisors Inc. now owns 30,636 shares of the specialty chemicals company’s stock valued at $21,055,000 after acquiring an additional 28,684 shares during the period. Virtu Financial LLC purchased a new stake in NewMarket in the 4th quarter worth approximately $1,195,000. MV Capital Management Inc. purchased a new stake in NewMarket in the 4th quarter worth approximately $92,000. Finally, Invesco Ltd. grew its stake in shares of NewMarket by 11.6% during the 4th quarter. Invesco Ltd. now owns 75,496 shares of the specialty chemicals company’s stock worth $51,885,000 after purchasing an additional 7,863 shares during the period. Hedge funds and other institutional investors own 61.09% of the company’s stock.

NewMarket Stock Performance

NYSE:NEU opened at $791.31 on Monday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 2.55. The stock has a market capitalization of $7.28 billion, a PE ratio of 18.07 and a beta of 0.56. NewMarket Corporation has a fifty-two week low of $580.03 and a fifty-two week high of $875.97. The company has a fifty day moving average of $737.15 and a two-hundred day moving average of $688.08.

NewMarket (NYSE:NEU) last announced its earnings results on Wednesday, April 22nd. The specialty chemicals company reported $12.62 earnings per share (EPS) for the quarter. NewMarket had a net margin of 15.25% and a return on equity of 24.12%. The business had revenue of $669.72 million for the quarter.

NewMarket Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 15th will be paid a $3.00 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $12.00 dividend on an annualized basis and a yield of 1.5%. NewMarket’s dividend payout ratio (DPR) is currently 27.41%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised shares of NewMarket from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, June 12th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of “Buy”.

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.