10,735 Shares in NewMarket Corporation $NEU Bought by Legal & General Group Plc

Key Points

• Legal & General Group Plc purchased 10,735 NewMarket shares worth approximately $8.5 million, giving it a 0.12% stake. Institutional investors collectively own 61.09% of the company.
• Analysts have become more bullish, with Weiss Ratings and Wall Street Zen upgrading NewMarket to “buy”; the stock carries an average “Buy” rating.
• NewMarket reported quarterly EPS of $14.54 on $747.09 million in revenue and declared a quarterly dividend of $3.00, or $12.00 annualized, representing a 1.3% yield.

Legal & General Group Plc bought a new position in shares of NewMarket Corporation (NYSE:NEU - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 10,735 shares of the specialty chemicals company's stock, valued at approximately $8,494,000. Legal & General Group Plc owned 0.12% of NewMarket at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in NEU. Vanguard Group Inc. raised its position in shares of NewMarket by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 828,798 shares of the specialty chemicals company's stock worth $569,600,000 after acquiring an additional 15,813 shares during the last quarter. BlackRock Inc. bought a new stake in NewMarket in the second quarter valued at approximately $556,339,000. Dimensional Fund Advisors LP boosted its holdings in NewMarket by 6.7% in the first quarter. Dimensional Fund Advisors LP now owns 194,507 shares of the specialty chemicals company's stock valued at $124,658,000 after acquiring an additional 12,172 shares during the last quarter. Geode Capital Management LLC increased its position in NewMarket by 5.4% during the 4th quarter. Geode Capital Management LLC now owns 175,649 shares of the specialty chemicals company's stock valued at $120,737,000 after purchasing an additional 8,978 shares during the period. Finally, AQR Capital Management LLC increased its position in NewMarket by 196.7% during the 3rd quarter. AQR Capital Management LLC now owns 137,943 shares of the specialty chemicals company's stock valued at $114,246,000 after purchasing an additional 91,458 shares during the period. Institutional investors own 61.09% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on NEU shares. Weiss Ratings upgraded shares of NewMarket from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, June 12th. Wall Street Zen raised shares of NewMarket from a "hold" rating to a "buy" rating in a research note on Saturday, August 1st. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock has an average rating of "Buy".

NewMarket Trading Up 0.5%

Shares of NEU stock opened at $902.39 on Wednesday. NewMarket Corporation has a fifty-two week low of $580.03 and a fifty-two week high of $981.66. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.23 and a current ratio of 2.25. The stock has a 50 day simple moving average of $843.32 and a two-hundred day simple moving average of $736.87. The company has a market cap of $8.30 billion, a P/E ratio of 19.41 and a beta of 0.55.

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

NewMarket Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th will be paid 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 payout ratio is 25.82%.

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.

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