1,497 Shares in NewMarket Corporation $NEU Bought by Redwood Investment Management LLC

Key Points

• Redwood Investment Management acquired 1,497 shares of NewMarket Corporation in the second quarter, valued at approximately $1.185 million. Institutional investors and hedge funds collectively own 61.09% of the company.
• NewMarket shares opened at $926.11, down 0.5%, with the stock trading near its one-year high of $981.66. The company reported quarterly EPS of $14.54 on revenue of $747.09 million.
• NewMarket declared a quarterly dividend of $3.00 per share, equal to $12.00 annually and a 1.3% yield. Analysts maintain an overall “Buy” rating, with recent upgrades from “Hold.”

Redwood Investment Management LLC acquired a new stake in NewMarket Corporation (NYSE:NEU - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,497 shares of the specialty chemicals company's stock, valued at approximately $1,185,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Los Angeles Capital Management LLC bought a new position in shares of NewMarket during the fourth quarter worth about $25,000. International Assets Investment Management LLC bought a new stake in NewMarket in the fourth quarter valued at approximately $27,000. Trust Co. of Vermont acquired a new stake in NewMarket during the 2nd quarter valued at approximately $28,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in 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 period. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA raised its holdings in 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 last quarter. 61.09% of the stock is owned by institutional investors and hedge funds.

NewMarket Trading Down 0.5%

NYSE NEU opened at $926.11 on Thursday. The stock has a market capitalization of $8.52 billion, a P/E ratio of 19.92 and a beta of 0.56. The business has a 50 day simple moving average of $833.01 and a 200 day simple moving average of $731.36. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.25 and a quick ratio of 1.23. NewMarket Corporation has a one year low of $580.03 and a one year high of $981.66.

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. The firm 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 Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 15th will be paid a dividend of $3.00 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $12.00 annualized dividend and a yield of 1.3%. NewMarket's dividend payout ratio is currently 25.82%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Weiss Ratings upgraded 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 research note on Saturday, August 1st. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, NewMarket currently has an average rating of "Buy".

NewMarket 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.

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