NewEdge Wealth LLC Purchases New Shares in NewMarket Corporation $NEU

NewEdge Wealth LLC purchased a new position in shares of NewMarket Corporation (NYSE:NEU) during the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 3,684 shares of the specialty chemicals company’s stock, valued at approximately $2,915,000.

A number of other institutional investors have also added to or reduced their stakes in NEU. Los Angeles Capital Management LLC bought a new position in shares of NewMarket during the 4th quarter worth approximately $25,000. International Assets Investment Management LLC bought a new position in NewMarket in the 4th quarter valued at $27,000. Trust Co. of Vermont purchased a new stake in shares of NewMarket during the 2nd quarter valued at $28,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of NewMarket by 100.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78 shares of the specialty chemicals company’s stock valued at $44,000 after purchasing an additional 39 shares during the last quarter. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA raised its stake in shares of NewMarket by 50.0% during the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 75 shares of the specialty chemicals company’s stock worth $52,000 after purchasing an additional 25 shares during the period. 61.09% of the stock is owned by institutional investors.

NewMarket Trading Down 0.2%

Shares of NEU stock opened at $928.99 on Friday. The stock has a market capitalization of $8.55 billion, a price-to-earnings ratio of 19.99 and a beta of 0.56. NewMarket Corporation has a 1 year low of $580.03 and a 1 year high of $981.66. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.25 and a quick ratio of 1.23. The company’s fifty day simple moving average is $822.32 and its two-hundred day simple moving average is $724.79.

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

NewMarket Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th will be issued a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Tuesday, September 15th. NewMarket’s dividend payout ratio (DPR) is presently 25.82%.

Analyst Upgrades and Downgrades

NEU has been the topic of several research reports. Weiss Ratings raised shares of NewMarket from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, June 12th. Wall Street Zen raised shares of NewMarket from a “hold” rating to a “buy” rating in a report on Saturday, August 1st. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy”.

About NewMarket

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.